Medicaid Planning: Protect Your Spouse
We see sad cases all the time:
- A couple spends over $80,000 on nursing home care after the wife could have qualified for Medicaid.
- Another couple spends down half of their life savings after being denied Medicaid. Then the husband dies, leaving his wife to live on Social Security and diminished savings. With proper planning, the spent money could have been used to provide future income for the wife.
- Countless other avoidable cases of future insecurity due to lost savings and income.
We’re here to help you find a better way.
- map out how you can pay for nursing home care
- look for ways to protect life savings and boost future income for the wife or husband still at home
- where some spend-down is necessary, find ways that will benefit you or your spouse
- see whether there is a penalty-free way to transfer property or assets to a disabled child, caregiver son or daughter, or other family members
- search for other ways to provide greater security, peace of mind, and asset protection.
Call now to discuss your situation: (412) 531-7123
Related Medicaid Planning Posts
Federal law provides a number of protections for a Medicaid applicant’s spouse (also known as a “community spouse”). Problem is, too few people know of these protections and too many couples fail to take advantage of them.
A Medicaid applicant’s spouse shouldn’t become impoverished, according to federal law. One protection for the spouse is the community spouse resource allowance. (Another is the monthly maintenance needs allowance (or MMNA) which you can read about here.) The community spouse resource allowance (CSRA) gets its name because it is an allowance of resources (money or other […]