In other words, if one spouse dies, his or her share will pass automatically to the other spouse regardless of the terms of a will. With tenants by the entirety, property cannot be sold or auctioned to settle a debt of only one spouse so long as both spouses are living. If the indebted spouse dies first, the surviving spouse keeps the property and doesn't have to pay the debt. If however, both spouses owe the debt, then a creditor may sue to obtain the property. As we begin to age, we may find ourselves in a position where we can no longer care for ourselves and we face the prospect of entering a nursing home.
Nursing homes can be very expensive.
Most people over age 65 have Medicare. The major public program that helps to pay for nursing home care is called Medical Assistance or Medicaid. Unfortunately the rules that determine whether you are eligible to receive Medicaid assistance for nursing home costs are complex and subject to change. If you are concerned about this, you may want to contact a lawyer to discuss your particular situation. The long-term care offices of DHS are another source of information.