Nov 18, 2015 - 09:51 AM
Mr. Nolan provided a good answer. I will add a little to that. Each state has differences in amounts but these items should apply to everyone. You can keep the house if the value is below $500,000. You can keep one vehicle. You can keep half of the money. If the money and other assets total below $27,000 (could be higher) you can keep it all. Assets include life insurance, retirement accounts, equipment, and any property that is not your house, You can keep your income plus enough of his to get you to approximately $2,000 per month total. That is if he has enough income to get you there. He will keep $30 (could be higher) for his personal needs. You should find an attorney in your area who has experience with Medicaid applications. There are many options and ways to protect as much as possible for you. An attorney can help prepare you for one of the most difficult times in life.