Welcome to LEGACY LESSON, where real-life-inspired scenarios meet experienced legal insights. In our latest episode, we dive into the story of Alice and Bob, a couple facing the immense challenges of chronic illness and its impact on their finances. After 30 years together, they confront a new reality—mounting medical bills that threaten their future stability.
Enter the intriguing strategy proposed during a consultation with financial advisors: could a legal divorce be a viable way to protect their assets? This episode explores the complexities of such a decision. Is it even legal? What are the ethical implications? And crucially, would it actually work?
Guiding us through these tangled questions is Shawn McClelland, Partner in our Tax, Trusts and Estates Practice Group with decades of experience in estate planning, elder law, and Medicaid planning. His insights shed light on the often overlooked or misunderstood aspects of asset protection.
Don’t miss this compelling episode of LEGACY LESSON. Join us as we unravel the possibilities and pitfalls of using divorce as a financial strategy in the face of life’s unexpected turns.
You can reach Shawn at smcclelland@mblawfirm.com or 973-974-9405