Pooled trusts & how well they work will really imho be interdependent on the nonprofit organization that is managing the trust. Pooled are so far only happening in a handful of states. really carefully shop around to see what the nonprofit is like.
I have a ? for you.....you are the community spouse & it's only your hubs who needs care, correct? & you are hoping to have him apply for Medicaid so that you do not find yourself becoming impoverished later on by paying for his care? and right now, there is just too much money for him to qualify?
If this is kinda your situation, you may want to meet with a NAELA certified elder as atty as to if a pooled trust is best or if you could structure changes to joint finances to get him eligible for traditional NH Medicaid. Only hubs has to be impoverished to qualify for Medicaid. You as the CS do not. If hubs has too much income, he may be able to do a Miller trust for the overage. You need to look into your CSRA /MMNA (community spouse resource allowance & monthly maintenance needs assessment) as well. If you all have lots of assets, so way way over the 117k allowed for a CS, you might be able to do a SPIA; or pay down debt to reduce your future expenses as a CS or widow. But whatever is done has to be worked thorough before the Medicaid application is done.
Medicaid for a widow or widower is pretty straightforward....they have to be impoverished. Its alot of info, but based on a set of required documents. It a DIY by their kids or grandkids. But for couples, it's way way way more complex. Then add into this is that your focus is on the day to day care of your spouse. Really you need someone knowledgeable as to how the system works for CS in your state. Some states have the CS CSRA/MMNA really high (like TX is almost 3k) so for those, getting it maxed could be the better way to deal with income. Its things like this thats why an atty can be invaluable.
I have a ? for you.....you are the community spouse & it's only your hubs who needs care, correct? & you are hoping to have him apply for Medicaid so that you do not find yourself becoming impoverished later on by paying for his care? and right now, there is just too much money for him to qualify?
If this is kinda your situation, you may want to meet with a NAELA certified elder as atty as to if a pooled trust is best or if you could structure changes to joint finances to get him eligible for traditional NH Medicaid. Only hubs has to be impoverished to qualify for Medicaid. You as the CS do not. If hubs has too much income, he may be able to do a Miller trust for the overage. You need to look into your CSRA /MMNA (community spouse resource allowance & monthly maintenance needs assessment) as well. If you all have lots of assets, so way way over the 117k allowed for a CS, you might be able to do a SPIA; or pay down debt to reduce your future expenses as a CS or widow. But whatever is done has to be worked thorough before the Medicaid application is done.
Medicaid for a widow or widower is pretty straightforward....they have to be impoverished. Its alot of info, but based on a set of required documents. It a DIY by their kids or grandkids. But for couples, it's way way way more complex. Then add into this is that your focus is on the day to day care of your spouse. Really you need someone knowledgeable as to how the system works for CS in your state. Some states have the CS CSRA/MMNA really high (like TX is almost 3k) so for those, getting it maxed could be the better way to deal with income. Its things like this thats why an atty can be invaluable.