80K asset include both husband and wife?

Discussion in 'General Discussion' started by chaplainchris, Dec 2, 2008.

  1. chaplainchris

    chaplainchris Newbie

    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,
  2. gary

    gary Newbie

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

    Patty Newbie

    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.


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