If you’re married, and you or your spouse needs to go into a nursing home, your home is exempt from Medicaid’s calculation of what your contribution to the cost of care should be. If you are single (unmarried or widowed) and you go into a nursing home, your house may be exempt if you follow certain procedures. Married people must be careful, however. If one spouse dies, the home may become available to Medicaid if you have not made adequate plans prior to that.

Medicaid law provides specific rules for determining the amount (if any) you may be asked to contribute to the cost of nursing home care for your spouse. While it may be necessary to legally protect some portion of your assets, there is no reason to give them away. Through the use of our exclusive MPS™ trademarked Medicaid trusts, Estate Planning Law Center can help you retain control over your assets, now and in the future, without them being at risk to Medicaid.

This is a common misunderstanding. Think of it this way: When you go to qualify for Medicaid, picture yourself bringing a box with you. In that box is every financial transaction you’ve made for the previous 36 months. That is all you need to account for – if you made a transaction 37 months ago, it’s not in the box. So 36 months is just the size of the “box”…it’s that simple. There is an exception: with transactions made to or from trusts, the size of the “box” is 60 months.

However, this has nothing to do with determining your qualification for Medicaid. It is what Medicaid sees in the “box” that determines whether you will qualify. If you make the proper planning decisions, you may qualify immediately even if the “box” contains information that might otherwise make you ineligible for Medicaid. Rule of thumb: Never apply for Medicaid until you are certain you qualify. Otherwise, you may have to wait longer than thirty-six months. Contact us today for complete information.

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