Is there a way of protecting my assets if my husband has to go into a nursing home?

I just went through this too. Same age difference. I am 71 husband is 80. I had to spend all my money on the house. You can't give a cent to your grandchildren if you hope to get on Medicaid. They did look back 5 years, but I heard it is going to 7 year look back soon. Start now.. See a lawyer and don't throw anything away....paperwork. The nursing home helped me do all the paperwork. It was so time consuming, worrisome and nerve-wracking. But I just had to trust in God to help me along. I have finally been approved after 5 months wait. The state of MD will pay for everything from now on. Of course I have nothing but my home, and car. No savings at all. Well a little in a Bank account that they let me keep. I can't apply for Medicaid for myself until 5 years now. But I am healthy. And I still have my own life insurance policy. I am beginning to get my life back in order. Bill has had AD for 11 years now and I was confined to the house with him for the last three years of his life here at home. He couldn't go out at all. It was pretty lonely! Please get a lawyer right away and start saving all your paperwork. Taxes, real estate taxes, bills, bank accounts (they will get that together for you) . You are allowed to pre-pay his and your funerals and count it as one of your expenses using up your money. It is a lengthy process.

Agree with everyone, go see an Elder Attorney ASAP. I am in a similar position, my husband is 20 years older than me. He has been in a Long Term Care Facility for over a year and prior to that received home based care all paid for by medicaid. I was able to keep the house, in both names, and my IRA but his IRA needed to be spent down. Although it is a federal program laws are different in each state. A good attorney can help you immensely. Act fast but with counsel.

Spellcheck!! There goes a WAD...not was.

See an elder care lawyer. Of course, there goes a was just for consulting but if you don't; good luck later.

Take a deep breath, form a support system to help you with care giving, and consult an eldercare attorney.

Talk to an attorney with expertise in this area. Medicaid has very strict look-back rules, going back 5 years I think. Also, if you get divorced and put most of the assets in your name, they will not accept that. I checked into this, because I am in a similar situation. If I put my husband in a nursing home, where will be the money to care for me when I need it? Home care is the same thing. It can cost more than a nursing home if you have it 24/7. This is a real dilemma. Please see an attorney. Maybe someone else can tell you the specific kind of attorney to see.

Call a certified Elder Law attorney today! There is a 5 year look back for Medicaid and there are still some ways to protect more than half of your assets but you need to act sooner than later.

We just went through this with my mom and dad. You need to see a lawyer specializing in elder care asap. They can help.