My husband and I have been married 34 years. The last 5 years he has been in stage 5 renal failure. He has congestive heart failure, heart attacks, severe back issues and lung problems..
We live in NC which is a 50/50 state
We are 63 and 64 respectively in age and last November I lost my job and insurance.
Counseling has not helped, so I am concerning divorce.
We have been living off my savings as I have yet been unable to find work. The only income is his disable check, which he spends on himself. I am using my savings to pay all bills and keep food on the table. He pays for his own medical bills.
Last year due to his high medical bills, over $108,000 a month for dialysis (his final total for the year that was billed to the insurance company was 2.9 million), my attorney advised that we set up a trust. He advised for me not sign any admissions slips when my husband was admitted to the hospital. To keep my signature off any of his obligations. NC has a law called the Doctrine of Necessity. So if I sign anything and my spouse passes, I am responsible for the bill. At which point creditors could come after the home and other assets. Reason the trust was set up was mainly for my protection. So the trust contains all the assets (house, cars, checking accounts, etc which are in my name) and a special needs trust for my spouse in case something happens to me.
I was the high end bread winner so my 401 k is 4x times his. I have 30000.00 in credit card debit and he has about 12000.00
My questions are these:
1- Currently he has to have a supplemential insurance due to the end state renal failure. I have retired from the state, but he has to pay the 425.00 a month for the insurance. I don't have a job so I can't pay. If we divorce will he be able to stay on the insurance? Will I be forced to pay?
2- If I don't have a job, most companies won't hire a 64 women, will I have to pay him alimony?
3- What happens if he dies before we divorce and we had agreed about splitting the assets? Will the assets come back to me?
4- He will more than likely have to live with someone, will I need to pay anything to that individual?
5- Because we set up the trust, will the assets still need to be divide, especially since there is a special needs trust set up for him.
Your post appears to be utterly about money! What about his feelings?! He sounds pretty sick. It’s your prerogative and right to divorce him of course and I don’t know the dynamics of your relationship, but money can’t hug you...