Preserving Resources for Well-Spouse
Question: I was told that my ALTCS application was denied because I,
the “well spouse”, had more than the one-half of the marital resources that
ALTCS allows a well spouse to keep. We are now in the process of reapplying,
but now that I have spent my spouse’s one-half, I will also spend much of my
spouse’s one-half during the months in which the new application
processes. Could this dilemma been prevented?
Answer: Given that ALTCS can take several months to process an application,
the issue of who will pay for care while the application processes oftentimes
arises. In cases in which the applicant is married, the concerns are at
least two-fold: Obtaining care for the applicant is of paramount importance,
but it is also critical that the well spouse preserves enough funds to sustain
the quality of life to which he or she is accustomed.
The best way to preserve resources for a well spouse is to make sure that
everything is in order before submitting the application. It could take
ALTCS several months to process an application, whether or not the application
is ultimately approved. And if ALTCS denies the application, you will
have lost those months in which the application processed, and have to start
the process anew.
While the general rule is that a well spouse can keep about one-half of the
marital assets, there are oftentimes planning strategies to help the
well-spouse maximize his or her resources. But here again, the best way
for a well spouse to accomplish this goal is to be proactive and engage in
planning well before submitting the application to ALTCS.
For more information about Jackson White Elder Law, or to download any of their free resources, feel free to visit us at:
http://www.arizonaseniorlaw.com/resource,
http://www.arizonalongtermcare.com or
http://www.myAltcs.com
