“How do I deal with spending down assets, what is the best strategy? We have $100,000 in IRAs and 401ks put together, $1,000 cash in the bank, $5,000 a month in Social Security, a free and clear house that’s worth $200,000, my wife has urgent need for medical care. I can’t take care of her […]

It is a specialized, immediate annuity that converts a countable asset (like your IRA savings) into a non-countable income stream for the community spouse (you), allowing the other spouse to qualify for Medicaid much faster. Think of it as a financial “switch”: you take a lump sum of cash and turn it into a predictable […]