Because my husband doesn't qualify for assistance due to 'too many' assets, he thinks we should get a dissolution to our marriage. If it works, I'm okay with taking this avenue. Has anyone tried or done this? I'm a bit younger (10 yrs) than him and he doesn't want me to be left with nothing when he passes. He has MS and may live another 10+ years cause he is otherwise, healthy as a horse. He's 70.
Take care,
Carol
On the other hand, which assets each spouse brought into the marriage or inherited or received as gifts from their relatives, all play a part in which assets each spouse can receive under the divorce laws. As you can see, it gets complicated, which is why you need two attorneys working together to accomplish this.
I address the issue of a Medicaid-planning divorce in my book. Good luck!
Um. I'm almost too flabbergasted to comment other than that. Why not visit an elder care lawyer or specialist financial advisor together and take advice?
I also worked with people at the bottom rungs of income, who could not marry or the combined assets would disqualify them from medicaid (by very little income) even though their medical expenses were huge.
Keep in mind that hospitals are not above going after your home and other assets to cover bills. Again, potentially wiping out the surviving spouse.
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