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Eldercare
Reply to "Divorcing to protect assets? "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]The legal expectation is that no more than 50% of joint assets in a (intact) marriage needs to be used for care - of the one person. No need to divorce. Spend-down and document the 50%[/quote] I believe it is state based. In some states the community spouse can keep the house, but is only allowed a monthly allowance, which frequently doesn't cover all expenses for upkeep of the house, much less themselves. [/quote] In my state, Medicaid will take assets including SSI, and provide the house (up to X value) and allowance only to the spouse.[/quote] The community spouse allowance amount is the same across all states even if one applies to their state to receive Medicaid LTC. And the community spouse can remain in the house. IDK what PP means here by "up to X value".[/quote]
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