Nursing home costs for father threaten to make mother broke

Question: Dad will need a nursing home soon. He is 80 and his Alzheimer’s is starting to progress. Mom is much younger then he. She’s just 61. Paying for his care would make her broke quickly, and she needs her assets and income to sustain her for the rest of her life. If Dad is able to qualify for Medicaid benefits, how much money would that leave my mother? What about the house? Will she lose it? Last, will all her income have to be given to the nursing home?

Answer: First, let me urge you to counsel your parents to see a Florida Bar certified elder law attorney as soon as possible. Proper Medicaid planning may allow your mom to preserve a good portion of her assets so she can avoid being impoverished by nursing home costs. Please do not go with a non-attorney or non-specialist in this area. It could cost your mother a great deal in the long run.

Now to your specific questions. Currently, here are the Florida Medicaid rules. If your mother has her own income, she can keep it all. If your mom’s income is below $2,030 per month (the current Minimum Monthly Maintenance Needs Allowance), a portion of whatever income your dad has can be diverted to her to bring her up to that amount. Joseph Karp

The Karp Law Firm, P.A.

Your mother doesn’t have to worry about losing the house. The homestead is considered an exempt asset if the Medicaid recipient’s spouse resides there.

As to assets, under current Medicaid guidelines, the spouse may retain up to $123,600 in assets. In addition, she also gets to keep exempt, non-available and incomeproducing assets.

There are ways that are totally legal and aboveboard to save more. Thus, it is urgent that they meet with the attorney as soon as possible, while Dad is still competent to help preserve assets for your mother.

Joseph Karp, a member of the Florida and New York Bars, is a Nationally and Florida Bar Certified Elder Law Attorney and founder of The Karp Law Firm, located in Palm Beach and St. Lucie counties. The firm assists clients with wills, trusts, Medicaid and VA benefits planning, special needs planning, asset preservation, probate/trust administration and estate litigation.