When one spouse needs long-term care, many families worry about losing their savings. Attorney Maxx Forti of McLario Helm & Bertling explains that Medicaid planning strategies, including the Community Spouse Exemption, may help protect certain assets and income for the spouse who remains at home.
Understanding which assets are countable, such as bank accounts and investments, and which may be protected, including a primary residence and one vehicle, is an important part of the planning process. The exemption can also allow a community spouse to retain a portion of income needed for everyday living expenses. Proper planning before a long-term care crisis can help families preserve financial stability while navigating Medicaid eligibility requirements.
For more information, contact McLario Helm & Bertling at (262) 251-4210 or visit mclario.com.