Asset Calculator

Your Asset Summary

Countable Assets $0

Asset Limit $2,000

Status Under the limit by $2,000

Total Exempt Assets: $0

Are you married with a spouse staying at home (not entering the nursing home)?

Yes No

Bank Accounts

Include all checking, savings, CDs, and money market accounts. These are countable assets.

Account type

Balance

$

Cash on Hand

Cash kept at home or anywhere outside a bank account. This is a countable asset.

$

Stocks, Bonds, and Investments

Total value of stocks, bonds, mutual funds, and other investments. These are countable assets.

$

Real Estate

Primary Home — Equity Value

$

Exempt if equity is under $713,000 and a spouse or dependent lives there (or you intend to return).

Other Real Estate (total value)

$

Rental property, vacation home, land, etc. These are countable assets.

Vehicles

Your primary vehicle is exempt. Additional vehicles are countable assets.

Primary Vehicle Value

$

Exempt — one vehicle is not counted regardless of value.

Additional Vehicles (total value)

$

Life Insurance

Total Face Value of All Policies

$

If total face value is $1,500 or less, the cash value is exempt.

Total Cash Surrender Value

$

Only counted if total face value exceeds $1,500. Term life policies have no cash value.

Burial and Funeral Funds

Prepaid funeral or burial plan value

$

Irrevocable prepaid funeral plans are fully exempt.

Designated burial fund (bank account set aside)

$

Up to $1,500 per person is exempt if designated for burial.

Personal Property of Value

Jewelry, collectibles, or other valuable personal property. Household furnishings and everyday personal belongings are exempt.

$

Any Other Assets

Anything else of value not listed above (annuities, inheritance, money owed to you, etc.).

$

Spend-Down Strategies

You are over the asset limit. Here are some legitimate ways to spend down excess assets:

Prepay funeral and burial expenses — An irrevocable prepaid funeral plan is fully exempt and can cover a significant amount.
Make home repairs or modifications — Roof repairs, accessibility modifications, new furnace, etc. are all legitimate expenses.
Pay off debts — Pay off credit cards, medical bills, car loans, or mortgage. Reducing debt is always a good use of assets.
Purchase exempt items — A new or better vehicle (only one is exempt), household furnishings, personal items you need.
Pay for medical care or equipment — Dental work, hearing aids, glasses, medical equipment not covered by insurance.
Consult an elder law attorney — An attorney experienced in Medicaid planning can identify additional strategies specific to your situation. This is especially important for larger amounts.

Important: Do not simply give assets away. Gifts and transfers for less than fair market value trigger a penalty period under the 5-year look-back rule. Learn more about the look-back period.

What Assets Are Exempt?

These assets are NOT counted toward the $2,000 limit:

Primary home — If equity is under $713,000 and a spouse, dependent, or disabled child lives there (or you intend to return)
One vehicle — Regardless of value
Personal belongings and household furnishings — Clothing, furniture, appliances
Burial funds — Up to $1,500 per person if designated, plus irrevocable prepaid funeral plans
Life insurance — If total face value of all policies is $1,500 or less
Wedding and engagement rings