| It isn't just the US Government waiting
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| | furnishings and personal effects. In
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| out there to grab a chunk of your hard
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| | some states, the remaining spouse's IRAs
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| earned estate when you become
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| | are exempted, as well. The non-ailing
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| incapacitated or die. Strangely enough,
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| | spouse is then entitled to half of any
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| state coffers are frequently enlarged
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| | remaining assets, subject to minimum and
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| through the mechanism of Medicaid. When
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| | maximum limits, while the other half must
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| someone requires long-term care in a
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| | be spent on the nursing home care.
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| nursing home, unless he or she has a
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| | In addition, income like Social Security,
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| private long-term care insurance policy,
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| | some pensions, and some interest
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| their whole estate may belong to the
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| | dividends are subject to "maintenance
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| state when they pass on.
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| | allowance," rules designed to allow the
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| Nursing home care is not free, even in
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| | healthy spouse enough money to live on.
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| county or state operated facilities.
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| | If, for example, the Social Security
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| Someone, somewhere, has to foot the bill.
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| | Income or other pension income is in the
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| If you, or your family, does not have
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| | remaining spouse's name, he or she is
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| resources to pay for the care, Medicaid
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| | entitled to keep it for living expenses.
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| steps in. While Medicaid is a federal
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| | In some cases, the spouse at home can
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| program, funds are allocated to the
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| | receive more than half of the marital
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| states for administrative purposes and
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| | assets, particularly if his/her income
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| are subject to state rules and
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| | falls below minimum levels.
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| regulations.
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| | If there is no spouse, in many states the
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| People who apply for Medicare aren't
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| | individual requiring nursing home care is
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| always aware of exactly how the program
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| | required to sign over his or her home to
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| works, but even more sadly, most people
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| | the state to reimburse Medicare. When
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| who are forced to apply for Medicare
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| | the nursing home stay is not permanent,
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| really have no other choice, so it
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| | the Medicaid recipient is allowed to live
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| doesn't matter how it works. By the same
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| | in the house until death, but cannot pass
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| token, Medicaid rules have been revised
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| | it on to children or other heirs, because
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| so that if one half of a married couple
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| | it actually belongs to the state, not to
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| requires nursing home care, the other
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| | the individual.
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| spouse doesn't have to sell the house and
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| | Estate planning, particularly if it
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| live on the street.
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| | involves some sort of long-term care
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| Under the most recent Medicaid rulings,
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| | insurance, can alleviate or eliminate
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| when one spouse has to be in a nursing
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| | some of the worries associated with the
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| home for 30 days or more, the couple's
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| | potential for requiring nursing home
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| assets are assessed and some assets are
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| | care. Talk to your attorney or other
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| excluded by virtue of "spousal
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| | estate planner about what can be done to
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| impoverishment" rules. The couple's
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| | protect your remaining assets if you have
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| residence is excluded from the asset
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| | to go to a nursing home.
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| evaluation, along with household
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