80K asset include both husband and wife?

[chaplainchris]

Greetings all,
Eligibility threshold for A and A is $80,000, not including auto and home.  Please weigh in on two senerios -

1.  What if a vet  has $60,000 in his name and his wife has $250,000 in her name (such as in a trust which doesn't name him as a beneficiary and for which he has no care or control)?  Is he eligible?

2.  What if another couple has $150,000 in joint assets.  Is the vet eligible, since his share of the assets is $75,000, or does A and A take into account all the couples assets?

Thanks in advance,
CT

[gary]

Did you find anything out about assets?  I'd like to see how you can legally have your parents assets taken below the limits.

[Patty]

Hi Gary and Chris,
It could be I am speaking out of turn here, but since I know Debbie is occupied right now, I am going to go out on a limb and say the site is not really about giving advice on how to shelter assets.  There are many things to consider - and they have legal ramifications - such as the impact on the current need of the veteran and/or his spouse to have access to their funds and the potential for the need of Medicaid in the future - just two things sheltering assets can impact.  Therefore, if you are lucky enough to be in that situation, you need to speak with a reputable Elder Lawyer Attorney in the applicant's state.  This site is not for legal and financial planning advise.

Patty