“Thought for the Day” #813 – by Stephen R. Elville, J.D., LL.M.

September 29, 2016

Despite the tax and other advantages of marriage, for older couples there are other considerations unrelated to the conventional protection of assets, such as the realities associated with how the Medicaid laws treat assets owned by individual spouses. Although this treatment varies from state to state, in Maryland the rigorous segregation of spousal assets over the years and cautionary measures such as pre-nuptial agreements are ignored for these purposes. Although unlikely to dissuade one from marriage, a healthy awareness of these issues by wealthier persons contemplating marriage later in life is essential.