What  amount of assets may my spouse retain?

The income and resources of married couples are treated differently than those for single persons so that the spouse who remains living at home (the "community spouse") will not be impoverished. The spouse who is or will be receiving skilled nursing care is referred to as the "institutionalized spouse." The process of protecting a couple's assets is complex and requires the knowledge of an experienced Elder Law Attorney.

According to current Medicaid law, the community spouse is allowed up to $2,541 in monthly income and one-half of the couple's available resources up to a maximum of $101,640. The resource amount is referred to as the Community Spouse Resource Allowance ("CSRA"), and the income amount is referred to as the Minimum Monthly Maintenance Needs Allowance ("MMMNA"). Through proper advocacy, however, the community spouse may retain more than these amounts in both income and resources

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Last modified: 12/21/06

Mark G. Aberasturi, a New York elder law lawyer and estate planning attorney, focuses his law practice on Elder Law and Probate, Estates, Wills and Medicaid Trusts, Living Trusts, Supplemental Needs Trusts, Living Wills and Estate Tax.  Mr. Aberasturi provides legal advice on matters involving Medicaid, Medicare and nursing homes.  Mr. Aberasturi is a member of the National Academy of Elder Law Attorneys, The New York State Bar Association Elder Law Section, and is former chairman of the Orange County, New York Bar Association Elder Law Committee.  His practice is located in Goshen, Orange County New York.

 

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