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My wife has Alzheimer disease and will eventually require nursing home care. Is my 401k exempt from payments if she is qualified for Medicaid?

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For Medicaid purposes, the income and assets of both spouses is fully counted. Your IRA will be considered as part of the couple's assets. But there is a much higher allowance -- things that are considered exempt -- for couples than for an individual. Medicaid intends not to impoverish the community spouse.

To see how this would apply to you, you might find it useful to contact an Elder Law attorney.

Dementia is a cruel disease, for the person who has it and for all of the family. Doing a little planning now with an expert may at least reduce the financial distress when placement in a facility is needed.
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Check with an elder law attorney that specializes in Medicaid planning.
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