Medicaid
What happens to joint accounts if my mother goes into a nursing home?
If my brother and I are named as co-owners along with my 80 year old Mother on all bank accounts (cash around $200,000) and property deeds (property $600,000 4 in Pa, 2 in Fl no mortgages on anything). What can be taken if our Mother goes in a nursing home?
How can we make our estate Medicaid eligible for nursing home care?
We are thinking of putting our estate in our children's names or in irrevocable trusts to make us Medicaid eligible if entered into a nursing home Please advise as to steps we should take. Information required on forms necessary to make our estates eligible for Medicaid assistance if nursing home care is deemed necessary in the future.
Can Medicaid count the sale proceeds of my mother's home as her assets?
I bought a home for my mother. The home was sold and she went to assisted living. Two years later she now is going to skilled nursing. For Medicaid purposes can they count the money from the sale as part of her assets if I bought the home with my money? My mom provided no money for the home.
Can Medicaid place liens on property after a deed revocation?
2 years ago my mother signed a transfer of deed for her property to me and gave me instructions on how to divide at her time of death she has had 2 strokes from July and August and now is incapable of making decisions but i have just learned from a sibling that she had the deed revoked to go back to the heirs of estate with no instruction on how to divide and the main question does this now leave the property in jeopardy for any medical institutions or Medicaid to put liens on. any info would be appreciated this land is in New Mexico.
Are Medicaid income trusts typically irrevocable and how are they managed?
This question is regarding medicaid income trusts. Are these trusts normally irrevocable? Is the grantor's social security number allowed to be used when setting up a bank account in the name of the medicaid income trust? Is this also known as a supplemental needs trust? What liability does the bank have if accepting the medicaid income trust to set up a trust account? Would the bank have to monitor what type of monies are deposited into the trust? i.e. the medicaid recipient's income only?