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You should not rely on these figures in your planning until you have verified the current figures.) Probably not.Under the 60-month Lookback Rule, eligibility for Medicaid may be denied if the person going into the nursing home transferred assets for less than fair market value within 60 months before his or her application for Medicaid benefits.The spouse outside of the nursing home can retain half of otherwise non-excludible assets, up to a maximum (of around 0,000, an amount that changes annually), plus the residence, plus some personal property, plus burial reserve, plus automobile, and other miscellaneous items.
The next few months were spent dealing with estate issues.
And be very careful about giving away assets; once you have given away your assets, you cannot get them back by legal action.
Don't rely on your children to "do the right thing" and hold the assets for you in case you need them.
Some veterans are entitled to veterans benefits to pay for their nursing home care.
The answer usually depends upon your marital status, and whether you are already in the nursing home or you anticipate a lengthy stay in the nursing home.