When your spouse needs nursing home care, the financial side of managing this issue can be almost as stressful as the medical side. Many couples in this situation have spent 40 years building savings, paying off the house, and putting money away for retirement. Suddenly, they find themselves looking at a nursing home bill that costs more than they ever could have imagined.
The good news is that Illinois Medicaid rules do not require a married couple to go broke before one spouse can receive help with long-term care. There are specific protections for the husband or wife who remains at home. There may also be additional long-term care estate planning steps you can take to protect your property.
That being said, moving money or changing ownership of large assets without understanding the Medicaid rules can make matters worse. Our Kendall County estate planning attorneys help families understand the rules before making large gifts, transferring real estate, or trying to rearrange accounts for long-term care purposes.