If I ever have to go into a nursing home can they take any of my IRA money in addition to my social security money which I know they get all of except 30 or 35 dollars a month? I live in Florida if that makes any difference to the answer.
1 Answer from Attorneys
Yes, depending on the amount of your IRA, SS, and other income and assets, to be eligible foe Medicaid in Florida and other states, you must give up SS, pensions, retirement income,and other income and assets. Otherwise, you are not deemed in need of Medicaid. SO, it is advised to analyze your situation to determine whether you are eligible or whether you will need Medicaid and other govt. assistance.
Related Questions & Answers
I have a big problem regarding my Uncle who is 86 years old, has dementia and has... Asked 5/08/13, 11:48 pm in United States Florida Elder Law
Why can't I access my answer? I am a Florida resident with a living trust written... Asked 3/22/13, 10:48 pm in United States Florida Elder Law
I am a legal resident in Florida and have property in Illinois. May my Illinois... Asked 3/22/13, 1:08 pm in United States Florida Elder Law
I am POA on my mothers estate, POA Living will, POA Surrogate Medical, POA Durrable... Asked 3/04/13, 10:18 am in United States Florida Elder Law
Specific to the State of Florida, at my parents' request, while they are both... Asked 12/27/12, 4:32 am in United States Florida Elder Law