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My husband has dementia and very little savings. At the moment I am still managing to care for him at home. When he needs AL or nursing home care, it will eat his savings very quickly. When his savings are gone will I have to spend the savings and investments I very carefully put away for my later years? I fear that he will not qualify for Medicaid after his savings are gone, because of my savings that are supposed to support me for the next 20 years. Our savings are separate because ours was a late in life marriage. What should I do?

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I’d try to get an atty that is CELA or NAELA level of elder law atty. & I’d try to do this soon. At 71 you are still within actuarial tables for doing stuff that would be for your benefit that requires them to be actuarially sound & medicaid compliant to be ok as an income source of yours that does not effect his LTC Medicaid eligibility. LTC Medicaid is sticky in that all assets are viewed jointly, whether or not in his name or your name or held jointly. But - and this is important- income is viewed independently of each other for his LTC Medicaid eligibility.

Community spouse issues are not simple. Plus your likely overwhelmed with day to day caregiving. Really you need an atty. Whatever you do, it has to be Medicaid compliant & that is a pretty narrow path. Not a DIY.
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Reply to igloo572
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Find an elder care attorney and make sure your finances are properly set up to provide for you as the Community Spouse if he will Medicaid in the future.
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Reply to vegaslady
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