Details for PRUITT LAW OFFICES S.C. / RETAIL - Ad from 2020-05-20

ask the lawyer by John Zabkowicz Attorney at Law tItle XIX aND asset PreserVatION What do you do when your spouse has an unfortunate set back and has to enter an assisted living facility or nursing home? The last thing you should do is panic or worry about the potential expenses that could occur from their stay. With Title XIX, the community spouse (the healthy spouse) is entitled to keep a certain level of countable assets, which is determined initially at the first date of institutionalization. Countable assets include checking accounts, savings accounts, investments, life insurance policies, etc. The healthy spouse is entitled to keep between $50,000 and $126,420 of countable assets. This does not include the homestead, any pre-paid funerals, one vehicle, or the healthy spouse’s retirement or IRA accounts. For more questions on Title XIX and asset preservation, please contact Pruitt Law Offices at 262-633-8301 or through our website at pruittlawoffices. com. We are your partners for professional service. Advertisement

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