It is likely my husband will enter a nursing home within five years. I am the well-spouse and have been sole caregiver for six years now. Our last child just moved out of the house, and although I would love to down-size, I am not selling the house/downsizing due to the fact that Medicaid would treat any profit as assets which would need to be spent down. Our house is on two acres and with working 40+ hours a week and being my husbands's caregiver 24x7, I have very little time to keep up the house and lot. What would the Medicaid ramifications be of selling the house, getting something smaller, with less acreage, but not making a profit on the sale?
Depending on your State Medicaid, maybe you could take half of the proceeds from the house to use for your new residence, and the other half be placed in a fund for your husband to use for his care. I would think you are entitled to one half of the house. That is something the Attorney can sort out.