In the state on OHIO/ Is there a way to protect a elder husband and wife''s life long savings account if one of them must have home care/nursing home??

It is common for one spouse to need nursing home care while the other spouse remains at home. It is also common for the spouse in the nursing home to need Medicaid benefits to help pay the cost of care. In Ohio, nursing home costs can be several thousand dollars per month and many couples do not have enough assets to pay these costs on their own. When completing an application to qualify for Medicaid, the couple must provide a detailed list of assets and monthly income. Additionally, a five-year look back period will apply, where past financial transactions will be reviewed. In particular, the Medicaid Office will be looking for monetary gifts and transfers/sales of property for less than fair market value that have occurred during the past five years. The couple could be subject to a penalty for any monetary gifts or transfers of property made during the look back period. The length of the penalty will be based on the amount of the gifts/transfers. During the penalty period, they will not qualify for Medicaid and will be expected to pay their own care expenses. The spouse remaining at home will be allowed to keep a portion of the assets to maintain his/her lifestyle at home, and a portion of the assets will need to be used for care of the spouse in the nursing home. An Elder Law attorney can help by reviewing your situation and helping to decide how to meet the needs of both spouses. The Medicaid rules are complex and change often, so you should not try to sort this out on your own. Tonya R. Coles Elder Law -- Estate Planning -- Probate 614-228-6600 www.tonyacoles.com