January 1, 1900
A client approached RCO Law seeking advice when she feared she was no longer able to meet her husband’s medical and safety needs at home because he was suffering with advanced Alzheimer’s. With nursing home care demanding a considerable monthly expense, and with significant medical needs of her own, our client needed to preserve the family’s assets – accumulated over a lifetime with her spouse – in order to cover her own monthly living expenses.
The decision to move a spouse to a long term care facility is difficult and often heartbreaking. Adding to that stress is the daunting financial commitment that nursing home care requires. By creating a “Solely for the Benefit” Trust, preparing the Medicaid application, and guiding our client through the qualification process, we preserved the vast majority of the family’s life savings and allowed the husband to quickly qualify for Medicaid assistance rather than depleting the family’s assets.
The husband was quickly qualified for Medicaid, which covered the cost of the nursing home. Our client was allowed to keep her husband’s Social Security income each month and was able to keep the majority of the couple’s life savings, allowing her to remain in their home and meet the expenses of her own care.