Good morning from southeast Georgia,
I'm Doug, and I'm very sorry to hear of you and your husband's situation, Peggy. My goal is to provide you with excellent service today.
The very first thing that needs to be done is that your husband needs to either transfer the title of the property into your name, or at least add you to the deed as a Joint Tenant with Right's of Survivorship. Even though he may well be applying for MediCaid very soon, the law completely allows him to deed the property to you, and still allows him to qualify for MediCaid.
Equally important is that if he predeceases you, if you are already a Joint Tenant, you do not have to spend thousands of dollars probating his will just to get title to the property---because with a joint tenancy, the property passes to you automatically on his death. This is very important to arrange so consider doing it very soon.
Medicaid allows a number of exemptions and based upon your statement of the facts, I see no reason that even with the home, he will immediately qualify for MediCaid---and you will be allowed to keep all of your things.
Under the Georgia MediCaid regulations, you may have the following assets and your husband will still qualify for MediCaid:
1. Your home and all adjoining land and all buildings on the property so long as the equity in the property you have does not exceed $525,000.
2. You may keep all of your household items including furniture, decorations, art, and appliances are excluded.
3. The two of you can have burial expenses prepaid up to can each have up to $10,000, which includes a prepaid funeral contract with a funeral home or funds designated for burial in a bank account. Likewise, burial plots for your husband and the immediate family are excluded as well as certain other items at the burial site.
4. You are allowed to keep one vehicle, regardless of value and whether or not it is in use.
5. Both yours, and his, personal items such as clothing and jewelry are excluded.
6. Finally, any retirement vehicles you have such as IRA's or 401K's are exempt as well, so long as they are paying you periodic payments.
The only thing I see that could be possibly problematic is the lot, if it is worth a lot of money and will make the value of the non exempted assets increase above $109,560. However, if the lot is earning monthly income, then it will be allowed. If the lot is not earning income, and is worth a lot of money, then you might consider selling it and using the money for things that are exempt.
Finally, as the spouse of the person applying for MediCaid for Nursing Home benefits, you may have $109,560 in assets of your own---including the home, a car, and the other exemptions that I mentioned.
So, based on the assets you say that you have, I see no reason that your husband cannot qualify for MediCaid right now and you will be able to keep everything that you have. The only thing that you will want to immediately do is have the house either transferred fully into your name, or have it transferred to you as a Joint Tenant with Rights of Survivorship so that you can avoid having to go to probate court, spend thousands and wait months just to have the house transferred to you through his will.
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I wish you the best in your future.