Q. How can I live on only my Social Security? Doesn’t Medicaid take all of my Husband’s income?
NO. Your income is completely protected from Medicaid. If your gross income is less than $2,841 a month, you get to keep a portion of your husband’s monthly income.
Q: If I have too many assets to qualify, but I need Medicaid NOW, can I still protect any of those assets?
YES, you can still protect the assets. While you may have lost the opportunity to use some planning strategies, it is never too late to protect most, if not all, of the remaining assets.
Q. Is my home counted as an Asset?
NO. You can keep your house. The first $500,000 in a home value is not counted as an asset as long as the owner has an intent to return home someday.
Q. Should I wait until I actually need Medicaid before seeing an Elder Law attorney?
NO. Many of the options available to protect your assets are very time sensitive. The sooner you begin planning before the need arises, the more options you have to preserve more assets.
Q. Do you need an Elder Law attorney help you qualify for Medicaid benefits?
Only an Elder Law attorney can bring together the necessary (and legal) Medicaid planning, estate planning, and incapacity planning skills to comprehensively solve the issues presented by a prolonged stay in a nursing home.