Life’s curve balls can mess with the best-intentioned plans.

Take Peter, whose wife Irene has dementia. Irene has always looked after the family’s financial affairs. Peter learns the financial ropes from Irene at the first signs of dementia. He also ensures that Irene appoints him as attorney under a power of attorney document.

He learns that having familiar surroundings is helpful for those suffering from dementia. He resolves to keep Irene with him in their home for as long as possible. The couple has sufficient assets that they can afford to bring in outside help in addition to whatever level of support is provided though the public medical system.

Anticipating Irene’s dementia will eventually progress to the point that a care facility is inevitable, Irene transfers her assets to Peter so her income will be low. They have learned that a patient’s cost of being in cared for in a facility is........

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