Let's talk for a minute about how your estate plan might need to change if you're a caregiving spouse. In my opinion if you're a caregiving spouse, you should be holding all the assets in your own revocable living trust of which your spouse is not a beneficiary. This doesn't matter while you're both alive. You as the one who is in charge of the money is going to be taking care of yourself and your spouse.
What this does for you by segregating the assets in the caregiving spouse's name is allow you to direct the assets if you die before your spouse to a qualified supplemental needs trust which is exempt from Medicaid. This is important because without you here, your spouse maybe in the long-term care system, incurring substantial costs.
We invite you to call our office to schedule an appointment to talk through the details of your estate plan.