Will I be Required to Sell my House to pay for Nursing Care if my Spouse Becomes Sick and Requires a Stay in a Nursing Home?
If you need Medicaid assistance to pay for nursing home care for your spouse, the marital residence will be an exempt asset, up to an equity value of $858,000, as long as you (the “community” spouse) continue to live there. Additionally, if a mortgage or home equity loan is outstanding against the residence, excess resources can be used to pay down those loans without resulting in a penalty period for the Medicaid applicant.
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