On balance, the answer is “no.” Once married, both spouse’s assets must be counted for purposes of Medicaid eligibility. It is better to live in sin. However, as love does not have an age limit, many couples decide to marry despite the legal and financial consequences. We recommend those couples enter into a prenuptial agreement and maintain separate trusts. By doing so, they can minimize potential conflict in the event of death or divorce. However, as Medicaid and other government benefits do not recognize prenuptials or the separate titling of assets, the couple should also be prepared to divorce in the event that one of them needs long term care.
This Newsletter is considered general information and is not intended to constitute individual legal advice. Please contact us if you think the information herein impacts you directly. We look forward to speaking with you soon.
