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RayAnswers, Lawyer
Category: Family Law
Satisfied Customers: 42218
Experience:  30 years as a family law lawyer .
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My husband has alzheimer disease. He is 12 years older than

Customer Question

My husband has alzheimer disease. He is 12 years older than I am. I am still working. I have one year left before retirment. During this past year he declined quite a bit and I am worried about the future. I was going to apply for medicade now so there isn't a delay when we get to the point that he needs more help than I can provide. I will probably outlive him because I am a woman in good health and 12 years younger. My fear is that his care will crush me financially. Should I apply for medicade now or wait untill I no longer work? My teacher's pension will be adequte for us to live on but not enough to pay thousands of dollars a month in care. What would be the best way to procede? Also would it make sense to sell my house and buy something smaller and put it in my daughter's name and rent from her so that I don't loose my home in my old age?
Submitted: 1 year ago.
Category: Family Law
Expert:  RayAnswers replied 1 year ago.

Hi and welcome to JA. Ray here to help you today.

You really need some estate planning here to shelter these assets.You are above the resource limits and maybe income too.A NAELA lawyer, National Academy of Elder Lawyers specializes in such shelters.Gifting anything to relatives is an absolute no -no, there is a 5 year look back when you apply here.

NAELA lawyer for you here.

The Ombudsman can help you locate a facility when the time comes.

I appreciate the chance to help you today.Thanks again.

Expert:  RayAnswers replied 1 year ago.

Medicaid covers elderly, blind, and disabled residents living in the community (at home or with friends or relatives) with income up to 100% of the federal poverty level (FPL). In 2014, that is $973/month for a household of one or $1,311/month for a household of two.

Expert:  RayAnswers replied 1 year ago.

To qualify for AABD Medical, you must have less than $2,000 in resources. Resources are assets like money and property. If you have a dependent or spouse in your household, you can have $3,000 in resources together.

Some property does not count toward the resource limit. Your home is not counted as an asset for Medicaid in Illinois. Your personal belongings and household goods of reasonable value are exempt. One car is also exempt is someone in your family uses it to get to work or to get attend medical appointments, if it is modified to transport a disabled person, or if it is needed for essential daily activities.

If you have resources that exceed the limit but need AABD Medical in order to move into a nursing home, you can spend-down your assets and qualify.

If you are going to sell the house it needs to be sold for fair market value, medicaid will review the sale and no gifts here, they would penalize him eligibility wise for such gifts.

Thanks again.