Recently, I looked into what to do to get my husband to qualify for Medicaid in a long term memory care facility. I spoke to an eldercare lawyer who assured me I would be able to keep my pension, my social security, my house, my cars (all at least 10 years old) and my savings, which are under $28,000. That is all we have. I decided not to do it yet. However, people keep telling me that the lawyer is wrong, I will lose my house, or 1/2 the value of it, I will have to sell cars. These people are telling me from the position of having to do it for their parents. They are telling me horror stories of what happened to them, and that the lawyer is wrong. This has been very upsetting, to get counsel and then be told that the counsel is wrong, and I must "protect myself." I think these people may have had many more assets than we do. Does anyone of modest means like myself have any experience with putting a spouse in long term care, and losing their house by doing so?
If you have assets over your monthly income and SS, you can have them split. Insurance policies with cash in value need too be cashed in. This can be used to prepay a funeral, which is what I did. Is the 28k in both your names? Then it will need to be split. In your name only, I am not sure about. You will become the Community Spouse. As such, you can remain in the home and have one car. What you get from your combined monthly SS and pensions will depend on what you need to live on. You will probably get yours and part or all of his. The CS can not be made impoverished. When DH passes, a lean for the cost of his care will be placed on the house. Upon your death, the house will need to be sold to satisfy the lean. Even if you sell before that time, the lean will need to be satisfied. If someone in the family wants the home, they will need to pay the lean. Like I said, just the basics here. In your State you maybe able to keep both cars.
I have never understood why the first thing people say when Medicaid is involved is see an elder lawyer. I made an appt with a Medicaid caseworker. I sat down and he actually filled out the application asking me questions. I was given a list of things I needed to provide. I did have a lawyer but only for the house which is an exempt asset. Thats because the house was for sale in a bad market and I had a nephew living there. But, I did all the work getting things needed and dealing with the caseworker. Mom only had 20k to her name over and above her SS and small pension. I took the 20k and paid the NH privately for two months. The 3rd month, Medicaid Started.
Remember I said each State is different.
Also, know that administrative or business staff at care facilities are not always knowledgeable, although they may offer valuable information based on their experience.
I can't even count the number of times I've been given wrong "advice" by people who either thought they were helping, or thought they were qualified to provide expert information. And that isn't just on medical or caring issues.
In the decades I worked in law, whether at a court level or for law firms, I've only twice (that I can remember) encountered attorneys who were unqualified, but it was on the basis of integrity as opposed to misinformation to clients.
You, as the Community Spouse, are protected from impoverishment. The house will be subject to a lien from Medicaid when YOU die or sell the house if it is in both of your names.
I have a suggestion; do you have a trusted friend you can take with you to the lawyer for the next appointment? Two sets of ears is MUCH better than one.
Makes sense that you get to keep your pension and social security. His would go to the facility.
When you say "my" savings, is it all your own money? Is husband joint? Does he have his own savings?
Sounds like a nightmare. Sorry you are getting conflicting advice.