Medicaid and 401K pensions

Follow
Share

My husband has just been diagnosed with early Alzheimer's. Neither of us have traditional pensions which provide a monthly payment. We both have 401K's which have been rolled over into traditional IRA's. We take small amounts every year from the 401K/IRA for living expenses to supplement our Social Security checks. If he eventually needs nursing home care, will Medicaid require that I spend down my 401k/IRA too? I won't be able to live on just social security. Is there some way to protect my 401k/IRA which is really my pension just not a monthly one?

This discussion has been closed for comment. Start a New Discussion.
Find Care & Housing
2

Comments

Show:
What did you figure out with your 401K?
(0)
Report

You need to make an appointment right a way with an elder lawyer -he will know the local rules and will be able to help with the extensive paperwor involved with medicaide you need help and he or she will be able to tell you what to do legally good luck and I hope you come back to this site to let us know your progress you will be able to help other as you go-we all need each other and your experiences will help others more than you will ever know-good luck and try to relax it will all work it's self out in due time.
(1)
Report

Related
Questions