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%

Anonymous wrote:I would think if you put your assets in a trust controlled by the kids, you could accomplish the same thing.

Of course, you have to be certain the kids will support you.

Only if it's irrevocable.

I know it’s possible this is the right financial thing to do but dang, it’s a marriage. It would be hard for me to not go down with the ship.

A 50/50 split is not necessarily what would happen. You need to talk to an attorney to understand whether this would be beneficial and figure out if your dad is competent, because that would greatly impact asset division. There isn’t a blanket answer.

The other thing is considering whether Medicaid will continue. Look at what’s being proposed look at the P2025 tracker and make an informed decision.

My grandparents did this.

Consult an attorney in the relevant jurisdiction who is affiliated with the National Academy of Elder Law Attorneys (NAELA).

This is tricky stuff. Not for amateurs or dabblers.

Anonymous wrote:I would think if you put your assets in a trust controlled by the kids, you could accomplish the same thing.

Of course, you have to be certain the kids will support you.

Medicaid has a five year look back period so unless you wouldn’t need it until way in the future this is a terrible suggestion. Really this is something you do before you get an end of life disease.

If they divorced, assets would be split 50/50. That includes the house. Under Medicaid rules, a house does not have to be included in spend down assets if it’s jointly owned. So in some circumstances it’s possible to protect assets by divorcing and in others, the couple screws themselves by trying this. The two biggest questions in the equation are life expectancy and amount and nature of the assets.

Also remember Medicaid has a five year look back period so you can’t give assets away either.

I would think if you put your assets in a trust controlled by the kids, you could accomplish the same thing.

Of course, you have to be certain the kids will support you.

I have a family member who did this. Then they put EXH in a medicaid nursing home.

Alzheimer’s definitely runs in his family.

Hard to say. He has an MRI scheduled but they’ve been in denial for at least 3 years. He’s lost his car insurance (too many accidents) and doesn’t like to have conversations or socialize. Just lays down and watches tv. Forgets/doesn’t shower.

My mom is in good shape for a 79 yo.

At 79 how good of shape is he in?

I think it's what works.

My 79 yo mother just called to get my advice on divorcing my dad to protect assets. She went to an Alzheimer’s support group and one advice was to divorce so that her assets would be protected in a worst case scenario and she’d be able to continue to support him. There’s got to be other options, right? He’s still early stage so still cogent to be able to sign papers and agree/disagree.