The prospect of your spouse entering a nursing home for long-term care can be overwhelming, especially with all of the logistical issues and care coordination concerns that accompany such a move. Financial planning for Medicaid eligibility can add more stress since there are strict asset and income limits that must be adhered to by both… Read more
Using an Annuity to Help the Spouse of a Medicaid Applicant
Be cautious whenever an annuity is described as helping a person to qualify for Medicaid. Any deferred annuity purchased as a planning measure – that is, an annuity that will build in value and is purchased before a person goes into a nursing home – will be considered a countable asset. However there on particular North… Read more