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He loved his new home, and the other two dogs who already lived with the Glassners. The balance of $349 ($1,800 - $1,451) will have to be paid to the nursing home. For example, some assets, such as the primary residence of the community spouse, is a non-countable resource for Medicaid eligibility. Resources held by either the institutionalized (the spouse that needs care) or community (the spouse that does not need care) spouse shall be considered available to the institutionalized spousal however, certain exclusions apply to various assets. When one spouse has to go into a nursing home, couples can save assets from Medicaid by purchasing an immediate annuity. And if you go to the Medicaid Office for help, you’ll likely hear that you need to spend half of your money (or more!) Their Florida home was worth $500,000, with approximately $200,000 owed on the mortgage. Protecting Assets When A Spouse Enters A Nursing Home As an Elder Law attorney, I often see the devastating toll the cost of nursing care can have on a married couple’s assets. Medicaid applicants with too much money or assets are denied coverage for long-term care and have to pay their own nursing home bills. I'll start by mentioning that this is likely the number one concern of all people who consult with me about an elder law or Medicaid planning issue. Anything over half the assets plus $2000 must … North Carolina Will and Estate Attorney Says, “When It Comes to Cryptocurrency, Estate Planning Is a Must!”, ← Review Your Insurance Needs When You Retire, Protect Yourself and Your Family through Smart Estate Planning →. Some factors that can increase difficult feelings after nursing home placement might include the disappointment of not being able to care for a spouse at home as originally planned, the perception (accurate or not) that others expect you to have been able to care for the person at home, and the acknowledgment that the person's disease is advancing. If your own income exceeds the allowance set by Medicaid you do not need to pay the difference to the nursing home; you can keep all of your income no matter how high. We’ve published other relevant articles that readers may want to review prior to this one, specifically on Medicaid eligibility for nursing home care and how much … The Virginia Medicaid manual has a blanket exemption for transfers between spouses. Sign Up To Receive The Elderlaw Firm Newsletter, The Elderlaw Firm for North Carolina Elder Law Estate Planning 403 W. Fisher Ave, Greensboro North Carolina 27401. Naming you as the life tenant and … However, dealing with a missing foot was causing stress on his hips and spine. This will probably require selling your home, and your spouse or partner will most likely have to move. The focus of this article is how to get a loved one into a nursing home that accepts Medicaid payments. For couples with one spouse in a nursing home, your family’s future depends on these 4 letters: “CSRA.” That stands for the Community Spouse Resource Allowance. In fact, I’ve even written you an excused “Late Pass” so you won’t feel tardy! Married and one spouse moving to a nursing home When your spouse moves into a Medicaid funded nursing home, you are considered the community spouse, and as the community spouse, you are entitled to keep your home. It’s the amount of money that a healthy spouse can keep and still qualify the ill spouse for Medicaid in the nursing home. The tough analysis associated with these transfers include whether someone has the legal authority to transfer assets to the community spouse (via a power of attorney or conservatorship that expressly permits such gifts) and what tax implications, if any, would result in such a transfer. The unlucky part is that a couple of years ago he was in an accident, and had to have his back right foot amputated. While protecting one’s assets from nursing home costs, an Income Only Trust is still able – as the name suggests – to provide income to the individual establishing the trust. The POA can be written to go into effect only if the patient enters a … The institutionalized spouse can also deem money over to the community spouse up to around $2800 a month. The planning, as previously mentioned, requires the conversion of countable resources to non-countable resources or a new income stream and does not require the impoverishment of the community spouse. For instance, if you purchase an annuity that doesn’t pay out for a number of years, and one spouse goes into a nursing home before the payout begins – that’s a problem. It’s a difficult time. When assessing a loved one’s need for a nursing home, consider the amount of autonomy your loved one is able to perform. (Robyn Sidersky, “ECPI students accomplish a real feat, and an amputee dogs gets a prosthetic limb,” The Virginian-Pilot, November 3, 2017, pg. Since the majority of persons in nursing homes for long term care utilize Medicaid to pay the bill, this article is relevant to most families. (Remember, these are all approximate numbers.) When your spouse enters a nursing home that is paid for by Medicaid, he or she is only able to keep a small part of their monthly income. Naturally it’s best to plan ahead. Myth – Medicaid is going to take my house. and apply again later after you’ve spent much of your hard-earned retirement assets. This can be a key tool for evaluation. The questioner was 67 years old and in fairly good health. The fact remains, that while the house may need to be sold or when the house sells, Medicaid may be entitled to some of the proceeds, Medicaid does not actually take the home. This holds true regardless of the equity value in your home. The plan should be custom tailored to each couple, and what works for one, may not work for another. Both are short of the cost of assisted living. Need to get started today? Currently, the community spouse resource allowance is 50% of the total countable resources of the couple up to $120,900, with a floor set at $24,180. The CSRA amount, which the healthy spouse can keep by law, is one-half of the countable assets up … So thanks to ECPI students, who used their ingenuity and technical smarts, Ray Ray is enjoying life once more as a four-legged canine! The new leg is supported by a harness and wheel combination that allows Ray Ray to make turns. But there may come a time when the scales tip and a nursing home is the best choice. These rules are commonly known as the spousal impoverishment rules. Even it's another 10 years until your spouse goes into a nursing home, Medicaid will still need to establish the assets owned as of the time 10 years earlier when the CPI was first established. Susan had a friend who worked at ECPI’s Virginia Beach campus, Nadine Newhart, who contacted the Richmond campus for her. His first bit of luck was to be adopted by Susan and Phil Glassner of Norfolk. We are a member of the Special Needs Alliance (SNA), a by invitation only national network of attorneys serving disabled persons and their families. Instead, the Medicaid considers the primary residence of a community a non-countable, or exempt, resource when determining eligibility. Content by elder law attorney, Andrew Hook and the Hook Law Center staff. 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