Years ago my husband and I set up a living trust. We have our bank account and house in the trust. I found out that the annuities we have were never added to the trust. I know there's a look back period for Medicaid/VA regarding this.
My husband now has Alzheimer's. It's becoming difficult for me to take care of all his daily needs along with mine. He's 76, I'm 74. He also has other health issues. I have severe DJD with a fused neck and back. I've had to call 911 several times when he has fallen. He has hurt his back, and now suffers leg weakness.
I need to live also if I have to put him in AL or a VA facility. This is where the annuities come in. His military retirement, VA pension and SS would llikely cover an AL. I only have a bit over $1000 SS coming in. This would not allow me to make a house payment, gas, groceries and other necessities. If the annuities are placed in the trust and I begin drawing an allowance on them, does Medicaid/VA take this into consideration or would I have to pay for his care out of the annuities event though they're in the trust?
A look back for Medicaid will consider your needs as well as his. There are certain expenses that you can pay like for good medical insurance and a prepaid funeral. His income has to be in the $2k to $3k ballpark to receive medicaid. There are ways to address that which require an elder care attorney.
A good elder care attorney will give you a 1 hour consultation without charging you so start there.
The VA will help tremendously as well. In Texas, most counties provide a VA expert for residents free of charge so that should be your second call. If he makes enough to cover assisted living, he likely won’t qualify for Medicaid. There are tons of experts in navigating VA care who are funded by grants so you shouldn’t have to pay for that at all.
It is time to gather all your income and assets stats, yours and your husbands, and see a good attorney who can give you your options. If you are here long enough to know Igloo you will know she is pretty much an expert at this sort of thing, but she herself will often say "this isn't DIY in many cases". I suspect your own case is one of them.