There is a set amount that can be retained for the benefit of the spouse who doesn't need Medicaid. (It is much more generous and realistic than it was when my husband needed it.) You can probably find the amount on your state's Medicaid web site. Or contact Agency on Aging as FF suggests.
Once you've researched the basic information, I strongly urge you to consult an attorney who specializes in Elder Law and knows Medicaid inside and out. If there are any ways to set aside more of your assets for your use later such a lawyer will be able to advise you and keep you from making mistakes that can backfire. For example, you can set aside money for a funeral or other final arrangements for each of you and that won't be counted as part of your assets. The attorney can also advise you how best to spend down your assets. Does your house need a new roof? Is your car on its last legs? You are not going to have a whole lot of money for these kinds of things after hubby is on Medicaid. So plan ahead and do major purchases now.
Again, I strongly urge you to consult an Elder Law attorney.
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Once you've researched the basic information, I strongly urge you to consult an attorney who specializes in Elder Law and knows Medicaid inside and out. If there are any ways to set aside more of your assets for your use later such a lawyer will be able to advise you and keep you from making mistakes that can backfire. For example, you can set aside money for a funeral or other final arrangements for each of you and that won't be counted as part of your assets. The attorney can also advise you how best to spend down your assets. Does your house need a new roof? Is your car on its last legs? You are not going to have a whole lot of money for these kinds of things after hubby is on Medicaid. So plan ahead and do major purchases now.
Again, I strongly urge you to consult an Elder Law attorney.
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