If I remarry, and my spouse needs long term care in the way of a nursing home, for example, will I have to liquidate all of my accounts in order to pay for his care?
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If I remarry, and my spouse needs long term care in the way of a nursing home, for example, will I have to liquidate all of my accounts in order to pay for his care?
I am currently widowed and have the following accounts in my name: annuity, stock, IRA, savings account (ING), checking account.
Asked on September 27, 2011 under Family Law, Pennsylvania
Answers:
MD, Member, California Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
If you remarry and your spouse goes into a nursing home, indeed you may wind up having liens placed on real property you have and garnishment on your accounts unless you can show that those are not joint assets, which would be difficult to show and quite expensive to prove. Ultimately, you would be responsible possibly for both your care and his if he does not have separate assets already set aside for such expenses. Ultimately, you would want to confer with an estate planning attorney who handles long term care expenses in such estate plans to see if your separate assets could be used for your separate care without worry.
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