When a spouse needs long term-care, the fear is immediate: will everything we worked for be lost? Many people assume that Medicaid requires spending down nearly all assets. In reality, there are protections for the healthy spouse, often called the “community spouse.”
In a Medicaid crisis, proper planning can help preserve a substantial portion of the couple’s assets for the community spouse by using the spousal impoverishment rules. Additional strategies may be available to protect more than families expect, even after a nursing home admission.
Every month of delay can cost thousands in unnecessary private-pay expenses. If your spouse has recently entered long-term care, prompt planning can make a significant difference in securing stability and financial dignity for the healthy spouse. Call us to schedule an appointment to see what you can protect.
