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Mom Needs Nursing Home Care - Now What?
By Michelle Beneski, Esq.
It’s a horrible situation faced by so many families. A loved one, husband, wife, mom or dad, is slowing down and can’t live at home any longer. The doctor says Mom needs nursing home care. What do you do? Your neighbor tells you that nursing homes cost $8,000 per month and that you will have to sell the family home to pay for it! You panicked, where will mom live, which nursing home should mom go to, how will you pay for it?
We see this situation almost every day in our office. First take a deep breath and know that there is help available and all is not lost. The Medicaid rules are extremely complex but a good elder law attorney can assist you in qualifying Mom for Medicaid (known as MassHealth in Massachusetts) as quickly as possible while protecting as much of the family assets as possible.
The person who is entering the nursing home is only allowed $2,000 in countable assets. Countable assets are all assets except: the home (with equity of $750,000 or less), a car, a $1,500 burial account, a pre-paid funeral, and whole life insurance with a face value of $1,500 or less. If the person is married, the spouse living at home is known as the community spouse. The community spouse can keep all of the first $101,640 in countable assets. If the couple has more than $101,640 then they have excess assets and must spend down. Many people assume that a spend down must be done by privately paying for the nursing home. For a married couple this often is not necessary. All of the excess assets can usually be protected for the benefit of the community spouse. A good elder law attorney can show you how.
Michelle Beneski, Esq.
Michelle D. Beneski, Esq. is a partner in the Surprenant & Beneski, P.C. located in New Bedford, Massachusetts. The firm concentrates on Elder Law and Estate Planning Issues.
She is a frequent speaker and author on estate planning topics.
Michelle is a graduate of Pepperdine University School of Law, Cum Laude and holds L.L.M. in Taxation from the University of Florida, College of Law. She is a member of the National Academy of Elder Law Attorneys, Wealth Counsel and the Bristol County Estate Planning Council.
We meet with our clients for Free every three years to ensure the documents still work for them. Surprenant & Beneski, P.C. charges $500 for an initial estate planning consultation. However, this consultation fee will be waived if you reference this article.
If you would like more information on Medicaid planning, call for our Free Consumers Guide to Medicaid Planning or our free report 25 Ways You Can Mess Up Your Estate Plan or to make an appointment for a consultation, call our toll free number (800)929-0491 for a recorded message or call our office at 508-994-5200.
Feel free to contact Michelle at 508-994-5200 or visit www.myfamilyestateplanning.com
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