My grandfather recently almost went bankrupt because he according to him and my parents “didn’t have the strongest insurance to take care of my grandmother’s nursing home bills” or something of that effect. Basically he was told he could keep his house, a car, and around 112k in investments or cash but everything else was going to be used to pay for her nursing home stuff.
My question is there a way that you can protect against this? Like an insurance you need or is this just inevitable? Because apparently he had like $700,000 more in net worth before this all happened and if my grandmother would have lived much longer that would have put my grandfather in an even harder position.
Any help would be appreciated.