Archive for the nursing home Category

What You can Keep If Your Spouse Needs Nursing Home Care

On December 1, 2014   /   Asset Protection, Irrevocable Trusts, Medicaid, nursing home, Power of Attorney, Trusts, Wills  

Should it become necessary for one spouse to move to a long term nursing care facility (“Institutionalized Spouse”), the spouse who remains at home (“Community Spouse”) will need to know their rights and planning options.  In order to determine the best approach for protecting assets for the Community Spouse and […]

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Medicaid Homestead Exemption: Contract to Sell Home Does Not Negate Intent to Return to It

On November 24, 2014   /   Elder Law, Medicaid, nursing home  

The Medicaid Homestead Exemption allows a person who has entered a nursing home to apply and qualify for Medicaid even if they still own their home, assuming all other economic thresholds are met.  In order for the Homestead Exemption to apply, the nursing home resident or the […]

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Be Careful Gifting Money back To A Parent!

On November 21, 2014   /   Asset Protection, Elder Law, Gifting, Medicaid, nursing home  

When a parent or loved one gifts assets to you, they will become ineligible to apply for Medicaid for a period of time.  The ineligibility period will begin when the person who made the gift applies for Medicaid.  The length of the ineligibility period will be equal to […]

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