No. In fact, there are protections in place to ensure that the so-called “well spouse” is not impoverished. If you are in need of nursing home care, your spouse will be entitled to keep your home and furnishings, car, and certain other assets without impacting your eligibility for the program’s benefits. The good news is that sensible planning can even enable your spouse to keep more of your family assets. Consult with a competent elder law attorney to gain a better understanding of your rights in this area of the law.
About Alan Augulis, Estate Planning Attorney
Mr. Augulis founded his Warren, New Jersey law firm so that he could focus his practice in the areas of advanced estate planning and tax law. Mr. Augulis has invested considerable time and energy helping to educate others on the topic of estate planning and has become a sought-after speaker in the tax and estate planning arena because of his informative and entertaining seminars.