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Answers to your estate planning questions so you can take care of your family and yourself. Answers to your estate planning questions so you can take care of your family and yourself. Answers to your estate planning questions so you can take care of your family and yourself.
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Archives

Tag Archives for: "community spouse resource allowance"
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 What Happens to Home Sale Proceeds If One Spouse Goes to Nursing Home?
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By Harry Margolis
In Long-Term Care Planning
Posted February 8, 2020

What Happens to Home Sale Proceeds If One Spouse Goes to Nursing Home?

Question: If, as seniors, we sell a jointly-owned primary residence and we split the proceeds, will the assets be protected if one of us ends up in a Medicaid nursing home? Response: I’m [...]

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 Can Community Spouse Keep Proceeds of Sale of Home?
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By Harry Margolis
In Long-Term Care Planning
Posted September 20, 2019

Can Community Spouse Keep Proceeds of Sale of Home?

Question: Spouse is in nursing home on Medicaid. Well spouse is allowed to keep their home. Is the well spouse allowed to sell the home and rent in a cheaper neighborhood or purchase a condo or [...]

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 Can Wife of Medicaid-Covered Nursing Home Resident Sell Rental Property and Give Proceeds to Children?
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By Harry Margolis
In Long-Term Care Planning
Posted December 14, 2018

Can Wife of Medicaid-Covered Nursing Home Resident Sell Rental Property and Give Proceeds to Children?

Question: My husband has been in a nursing home for two years already. I need to sell 5 rental homes that I cannot manage and don’t want any more. Can I sell them if they are on my name? [...]

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 Can Medicaid Applicant Transfer Life Insurance Policy to Spouse?
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By Harry Margolis
In Long-Term Care Planning
Posted January 26, 2018

Can Medicaid Applicant Transfer Life Insurance Policy to Spouse?

Question: Can someone applying for Medicaid transfer a $50,000 fave value universal life policy with a cash value of $1,906 to a spouse under the spousal impoverishment rules? Response: Yes. [...]

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By Harry Margolis
In Long-Term Care Planning
Posted August 11, 2017

Spousal Refusal or “Just Say No”

Federal Medicaid law permits the community spouse to keep all of his or her assets even if they exceed the standard spousal allowance of $130,380 (in 2021) by simply refusing to support the [...]

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  • Health Care Directives (13)
  • Irrevocable Trusts (51)
  • Long-Term Care Planning (173)
  • Non-Traditional Families (16)
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  • Probate (38)
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  • Revocable Trusts (102)
  • Second Marriages (11)
  • Social Security (18)
  • Special Needs Planning (70)
  • Trustee (52)
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  • Wills (50)
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