Everyday Cheapskate

Dear Mary: My husband and I inherited lots of old coins. We would like to know the value of them and possibly sell them. Do you have any advice on how to find an honest, reputable coin dealer? — Christy H., e-mail

Dear Christy: Coin dealers are easy to find. Finding one who is honest and qualified is harder. You want a coin dealer who knows his topic well, who is financially stable, who is respected by his peers, who has demonstrated care for ethics, and from whom you have recourse in case of a dispute. I suggest that you consult the Professional Numismatists Guild, an association of coin dealers who have met a number of strict standards in order to join it. Click on "Find A PNG Dealer" at http://www.PNGdealers.com to find a referral in your area.

Dear Mary: My aging parents are in declining health and may need to have long-term care outside their home in the near future. I want to protect their assets in the event that they have to go to a care facility. Two years ago, they had their wills updated to give me power of attorney (durable and health care), but I am concerned that it's not enough. Could you direct me to where information on this subject is available? — Dan K., South Carolina

Dear Dan: I applaud your desire to help your parents get their affairs and estate in order. It is good that they have been diligent to have their wills and health directives kept current.

I am not sure what you mean by "protect their assets," but something tells me you might be more interested in protecting your inheritance from the costs of their future health care.

Should your parents need assisted living, the cost will be significant. If they do not have long-term care insurance (you might want to look into securing this for them now), someone will have to pay for the cost of their care. If they are without financial assets, they may qualify for Medicaid in their state of residence. However, until their financial assets are exhausted, it is unlikely they can qualify for such assistance.

Doesn't it seem right to you that their money and assets should go to pay for their end-of-life expenses and that they shouldn't expect someone else to cover those costs? Hiding assets in order to qualify for state or federal government assistance is illegal.

That being said, I suggest that you head over to http://www.nolo.com, a terrific Web site that specializes in legal solutions for individuals and families. There is an entire section on wills, trusts and estate planning — information that you can rely upon to be accurate.

Do you have a question for Mary? E-mail her at mary@everydaycheapskate.com, or write to Everyday Cheapskate, P.O. Box 2135, Paramount, CA 90723. Mary Hunt is the founder of www.DebtProofLiving.com and author of 18 books, including "Can I Pay My Credit Card Bill With a Credit Card?" To find out more about Mary and read her past columns, please visit the Creators Syndicate Web page at www.creators.com.

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