What is the name of your state? New Jersey
I recently removed my 80 yr old father from Florida to New Jersey to prevent his wife from locking him away in an Alzheimer's unit of a nursing home. The only liquid asset him and his wife own other than their modest home are life insurance annuities with a death benefit; his wife is benificiary. Medicaid has already told me that if he is separated from his wife he will be considered as a single and will qualify for Medicaid for income qualifications. Will these annuities be considered as part of his net worth if they are only a death benefit? Recently he made her joint owner of these annuities but she will never agree to let him have any of the money even if Medicaid demands it. The same is true of the home. She will never allow him to have his assets. We are basically walking away from all his assets to ensure his well being. Will medicaid agree to this so he can have the care that he needs at home?
I recently removed my 80 yr old father from Florida to New Jersey to prevent his wife from locking him away in an Alzheimer's unit of a nursing home. The only liquid asset him and his wife own other than their modest home are life insurance annuities with a death benefit; his wife is benificiary. Medicaid has already told me that if he is separated from his wife he will be considered as a single and will qualify for Medicaid for income qualifications. Will these annuities be considered as part of his net worth if they are only a death benefit? Recently he made her joint owner of these annuities but she will never agree to let him have any of the money even if Medicaid demands it. The same is true of the home. She will never allow him to have his assets. We are basically walking away from all his assets to ensure his well being. Will medicaid agree to this so he can have the care that he needs at home?