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cheap generic prednisone A lawyer recently asked us to explain how Indiana Medicaid treats marital agreements. The lawyer`s question referred to our blog comments on this topic in the April 2017 article titled: “Married? Get a marital deal first! We thought that our statement of the case may be good information for the blog, so we turn around the topic. This article begins a two-part explanation of how Indiana Medicaid treats the property of a remarried couple when a spouse needs care and the couple has entered into a marital agreement before they marry. Tell them that your client is considering a remarriage and wants to protect the $3 million estate she brings back to the wedding. If you think a marital agreement will be enough to protect fortune, don`t think about the possibility of stroke, Alzheimer`s or even chronic arthritis, which causes a need for long-term care. Many people think that a prenup means that your spouse cannot access funds that are “protected.” While technically correct, Medicaid, the federal social welfare program that pays for long-term care as soon as a person is impoverished, does not honor a prenup. So if this new spouse suffers a stroke at the wedding, the Prenup will do nothing to prevent your clients from paying $96,000 a year from a care home. What happens when we have a married couple and you need nursing, and that couple has a marital contract? Most experienced older lawyers understand how Medicaid treats marital agreements. Lawyers who do not practice older law sometimes employ us as consultants to guide them when their clients need home care.
Our statement to the lawyer, who asked for our blog post on the marital arrangement, began with a statement on how Medicaid treats married couples. They are sometimes seen in first marriage situations. They are more typical in secondary or later marital situations, especially later, when people have married later in life, have their own property and have their own children that they want to care for. The question, then, is whether one of these spouses is asking for Medicaid, whether the state will abide by this marital agreement and will not come according to the spouse`s estate who does not need home care. We`ll explain the rest of The Medicaid`s approval process for Bill and Sue next month. The statement will also explain how Medicaid treats marital agreements, such as those bill and Sue made before their marriage. Second marriages may need a marriage to protect children and save. The Medicaid program aims to contribute to the dizzying cost of long-term care. However, before a couple can qualify, the regulations require that the assets of both spouses be counted for the care of a spouse, even if only one spouse needs the care.
Marital agreements do not matter. Medicaid rules add up the assets of both spouses. Abigail would have the right to keep some of her property for her own use – but that would not be enough for her to maintain her standard of living, to pay for her retirement and to inherit enough of Abigail`s children. In this Elder Law Minute, Wes Coulson talks about whether a marriage protects a spouse`s property if he applies for Medicaid. Planning for long-term care costs is important, especially for seniors. For an older adult, marriage or remarriage can have unintended consequences. While it is worth considering a marriage for many reasons, an agreement does not protect your property from the long-term care costs of your new spouse.