There is a tremendous cost associated with nursing home care for a spouse. Most nursing home facilities charge approximately $12,000 to $13,000 each month for a semi-private room. Medicaid will pay for nursing home care, but only after the family’s…
Read More Medicaid Now Allows the Healthier Spouse More Assets
According to the New Jersey Medicaid regulations, an individual is not allowed to own more than $2,000.00 of resources. A resource includes any bank accounts, checking accounts or other investments that are in the control and accessible to that person. …
Read More Custodial Accounts for Minors Should Be Exempt from Medicaid
When a spouse enters into a long-term care facility, the cost of that care can be catastrophic. Fortunately, there are federal laws that protect the healthier spouse from being impoverished. According to the federal statute, there are two important dates…
Read More Medicaid Has Two Snap-shot Dates for a Married Couple
The cost of long-term care can be catastrophic. Many families deplete their life savings and assets on the cost of this care. Fortunately, there are federal and state laws that protect the healthier spouse from being impoverished. These laws and…
Read More Change in Medicaid Laws Protect More Assets for Married Couple
What happens if the property is sold during the lifetime of the parent? Many individuals protect their home from Medicaid and the cost of long-term care by transferring their property to a family member but retaining a life estate interest. …
Read More Problems When Life Estate Is Sold During a Person’s Lifetime
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