Is divorce an answer to protect my assets if my husband goes into a nursing home?

Its true that medicaid makes a married couple spend down 1/2 of their assets. Its also true that there is a 5 year look back. A house and auto is free and clear to the capable spouse. It is also true that the more money you have the more you get to keep, but there is a maximum cap to be eligible. You are allowed 1500 each in a whole life insurance policy. If you own outside property, you must market it during the application time. If it doesn't sell its yours, only if you have removed your spouses name from it. You must remove your spouses name from all your remaining assets. I agree if one is considering divorce because of large assets, consult an attorney.
Wisconsin - 50/50 State

My husband was diagnosed with a brain tumor & eventually died (17mo later) of it. Three years before the diagnosis of a GBM, AAA of the right pariatal brain (sp) he had been acting extremly weird which I assumed was from being an alcoholic. For two years I threatened divorce if he would not quit drinking & in the third I did. He was diagnosed with the tumor June 6 our divorce was June 21 & he died 9/13/01. I am so happy we were divorced. He continued to live with me & I was the sole caregiver until he died at home in bed with hospice care. He was able to give me a quit claim to the house, all the credit card debit was washed away after he died. he had run up debts with them for stuff he couldn't use but they graciously offered condolences & wrote it all off. I had years before, when stuff started to get funny did my taxes "married but filed singly", then the divorce... so all his tax mess was washed away. Other than dealing with a hoarders collection of crap, the divorce free'd me from all his debts before & after his death. Thank heavens because I could hardly work & was making 17K a year trying to care for him. I'm thinking all old people & maybe not so old should get divorced to protect themselves from these issues. It's a shame but when you can't control crazy behaviour that finacially affects your finances, you are forced to a defensive possition. Just get it done quick. Good luck.

assets in you name. Tranfer car titles into your name or sell any unused items like the extra car . Also i heard that VA nursing homes don't do a look back period. A TRUST is untouchable because the assets won't belong to either you but to the trust. If you do the trust your self hire attorney to look it over and have it notarized it shoud'nt cost that much and worth it. Check into VA pension .gov if hubbies a VET. No divorce it will cut you from most of your husband's benefits in the long run and you don't deserve that. If you can afford get conservatory over husband that will put in control of everything like SS, VA and his health and physical person.That is a must....Last .....research!! this subject on the web there's lots of info there.I hope this helps it has for me. Stay strong you can do this. If all else fails give home to child you trust in a ...(Quick claim Deed) research....E-how on internet. These things must be done before you fill out medicaid claim and place him in home. ..A good Elder Law Attorney is still a fine place to start.... Good Luck

Yes !!! there are things you can do. But it all requires carefull planning. Hiring a elder law can be very helpful....But there are things you can do on your own. First you can do a (interspousal tranfer) look it up on line, of the deed to your house tranfering all property into your name this is not considered a sale so no taxes involed. If you have power of attorney you can order on line Suzy Orman self help series and SET UP your own trust putting all

I was in a similar situation with my husband 3 years ago. I consulted an elder law attorney who helped us to get my husband on Medicaid by putting all of our assets in my name. We live in AZ, but I assume the laws vary from state to state. If you haven't already consultedwith an elder law attorney, I encourage youjto do so.
God bless you.

Check "Caregiver Forum" on this website and look under Money&Legal -- might be some helpful info here -- or one of the "experts" on this site might give you guidance or starting point. Divorce seems expensive and emotionally unnecessary -- better to consult an attorney that is a specialist in eldercare and elder law.

I think you can go to your local Department of Social Services - complete the forms they will send you. They need to know about all income, assets, savings, life insurance, investments, etc. When they have that information, they will determine how much you need to "spend down" until you have spent 1/2 on your spouses medical care. Then you will be able to keep the remaining 1/2, plus one car and your house. I'm not sure how they will factor in the two social security checks, pensions. $2,000 will be kept for your spouse, who will then qualify for medicaid. Not sure about divorce: Would everything be split in 1/2? What about the house that the spouse in the community is living in? Would that have to be sold, the profit be split in 1/2, or would the spouse living in the house retain the house until her death in addition to 1/2 of the finances?

In Iowa there is a process called "attribution of resources" which allows the healthier spouse to maintain the current lifestyle. Certain things are exempt from inclusion, as income generating resources (rental property, home business etc) the home and a vehicle are exempt, then resources are totalled, then split in 1/2. It's required to spend down that 1/2 on medical cares, living needs etc before eligible for medicaid assistance. The intent is to prevent "spousal impoverishment." I would assume many other states have something similar to this and suggest checking with your state medicaid program.

My x husband was in the accident. Sorry had to clarify

What if husband agrees to give all to wife in divorce. I worry about that too. My husband is 10 years older but in much better health than I, but anything can happen. My husband was in an accident (after divorce) and laid in a vegetative state for 9 years. It was a business truck so there was a lawsuit that cared for him until death, but usually it wouldn't be a company in the wrong.
It's a scary question with the costs today.
We have discussed this and are going to ask attorney about maybe putting things in daughters name? DoNt know the answer to this very important question.
Julia I'm glad you brought this up. What about trusts?