CDs and IRAs don’t have to be split in half. When there is a community spouse the is a maximum amount of assets the spouse can keep. In the OPs state, she can keep $66,480. If there are IRAs and they are in payout status then they are probably an exempt asset and don’t have to be cashed but count as income.
I would think with CDs and IRAs it may depend on who owns them. I have an IRA that is a pension buy out I rolled over into an IRA. My husband has an IRA in his name.
You will become the Community Spouse. As such, you will not be made impoverished. If you have any assets, like CDs, IRAs etc, they will be split between you, his portion being spent down for his care. Giving u basics here. Each situation is different as is each state.
If all you have is a monthly income, then I cannot see u getting an elder lawyer. And not sure if your income would play a factor in him receiving Medicaid. I would make an appt with Medicaid and run things by them before I would consult a lawyer. Only get a lawyer if things get sticky.
She needs advice. Some states will allow her to keep all of her income, some will not, but will as you say just limit it such that she does not become impoverished.
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If all you have is a monthly income, then I cannot see u getting an elder lawyer. And not sure if your income would play a factor in him receiving Medicaid. I would make an appt with Medicaid and run things by them before I would consult a lawyer. Only get a lawyer if things get sticky.
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You should make an appointment with a certified eldercare attorney in your state, or make an appointment with Medicaid.
It also depends upon whether you are looking for long term care Medicaid or community Medicaid.