When parents are confronted with the prospect of one spouse entering into a nursing home there are, naturally, a great deal of concerns and questions to answer. There are some options such as home based care, adult day care, and other programs which can help to delay or possibly eliminate the need for nursing home care. A good place to start for his type of information can be found at:
If nursing home care is unavoidable, a significant concern is its high cost since the average cost of nursing home care now exceeds $9,128 per month in New Hampshire.
Fortunately, as long as there is an “at-home spouse” (i.e. the spouse that is not in a nursing home) who continues to reside there, the home is not counted for purposes of Medicaid qualification; nor can the State place any liens on the home while so occupied.
Even though the at-home spouse is entitled to reside in the home for his or her lifetime, it is often advisable to change the title on the home solely into the name of the at-home spouse. If the real estate is held jointly between the spouses, the Medicaid recipient could lose Medicaid eligibility since one-half of the assets would be “owned” by the Medicaid recipient.
Once transferred to the at-home spouse, there are many other planning opportunities that can be considered including the use of life estates, trusts (both revocable and irrevocable), and other estate planning options.
Attorney John Polgrean consults regularly with individuals and families in Nashua and from all Southern New Hampshire on estate planning matters including elder law issues confronting families with aging loved ones. Please contact John at (603) 883-0797 to set up a consultation if you or someone you know has questions/concerns in this area.
This blog is intended for informational use only. The information contained herein should not be construed as offering legal advice or a legal opinion.