Legal Question in Elder Law in New Jersey
ira
I have an ira. if my husband goes to nursing home, is that money considered his and mine. Must that money be used to pay for nursing home care before medicaid pays/ How much do I have to use of it, if any, for medicaid to take over.
Asked on 2/27/02, 9:20 pm
1 Answer from Attorneys
Steven Tarta
Steven Wayne Tarta, Attorney At Law
Re: ira
This issue re IRA and Medicaid was specifically addressed in NJ in the state supreme court in the Mistrick decision(see my website-aticles button-"What is the Mistrick decision etc"; the court stated that the ira fund was an "includable asset" in determining medicaid qualification, and must be fully utilized before a person qualifies.
Hope this info was helpful, Steve Tarta
Answered on 2/28/02, 6:05 pm
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