If I have a joint bank account with my mother can I move her funds to a new account in my name in case she moves into a nursing home?

You should get an elder care attorney to review your & your mom's situation.

Like the others, I'm assuming your thinking that mom is going to need Medicaid to pay for her care in the future??

Each state has it's own Medicaid rules but in general the person has to have an income of under 2K a month, can own a car and a home if the value is under 500K - 750K (although the home is subject to a states Medicaid Estate Recovery Program) and LTC/SNF is medically necessary. If their over the 2K ceiling, they need to spend down, or do a Miller Trust or get a “Medicaid compliant” annuity (irrevocable, non-assignable, has equal payments, and names the state Medicaid program as the primary or contingent beneficiary to the extent of Medicaid benefits provided to the institutionalized individual). Basically get them to poverty level.

Your joint account is "commingling funds", this is sticky and can be a paperwork nightmare if she needs to go on Medicaid and you could find yourself having to document 5 years of paperwork and expenses in a very short period of time in order to have her approved and show what $$ is yours and what $$ is hers.

It seems to be that Medicaid rules does not allow money earned from work or Social Security to be “commingled” with anyone else’s money. The money of a person who is disabled cannot be commingled or deposited along with anyone else’s money if the person wants to maintain eligibility for Medicaid. This seems to mainly affect Special Needs Trust (that parents do for kids that are disabled). But with states all expecting shortfall's in revenue, they may start looking at the elderly's accounts too. You just can't be too careful when going through Medicaid application to having everything be within the requirements. Good luck.

I don't see it as your mom "losing" her life savings to a nursing home. I see it as her using the money she has saved to pay her own way, as she probably has her whole adult life. Maybe the fact that she has that money will help her pay for at-home care that will allow her to stay in her home longer. What good is the money to her in an account she can't touch? If she's been saving it her whole life, now's the time to use it in the ways that will bring her the most comfort and joy.

You really need the advice of a CPA and/or attorney who specializes in elder law.

Are you thinking in terms of having Mom qualify for Medicaid? There is a "look back" period where assets have to be accounted for. If she doesn't need care before that period is up that will be different than if she needs a long term care facility next year.

Seek the advice of an experienced professional. It will be worth the cost.

Yes indeed, I also recommend an elder law attorney to help you with this. In my state (Ohio), the Medicaid look back period is five years. Medicaid will check out any transfer of funds. I hired an elder law attorney and in my situation, I am able to keep half of the funds. That's better than giving the whole amount to the nursing home.

Nice to read expert advice here. I live in NH and was told Mom's house was ok for her to still own and receive medicaid, but, once she passed they take what is owed because they would have to put a lein on her home. Its tricky, they say its ok but then they take their owed money afterwards. We sold moms home and its being used for her her daycare, now homecare, and my care of her along with her diapers,pills, and supplies, etc. As far as I see it, Dad wouldnt want her in a nursing home for us to have an inhertitence, he wanted his wife taken care of first. She was the love of his life. The siblings arent happy but its what it is and with dementia/alz its a long journey. Good posting and interesting .

"Ditto" Donna, I wholeheartedly agree, its her money, not the childrens. Mom isnt losing her money, the children are and who cares as long as Mom is taken well care of and loved. Home care for Moms care is what I am/was doing with her house money and its about gone now, oh well, she is having a spoiled and comfortable life and what else matters. Moms still staying with me, regardless of money, shes my Mom. Manage the money in a way its best for your Mom, its her hard earned money. Good luck.
Thank you for posting.

Assisted living homes that don't accept medicaid are often much nicer than those that do. It's use the money so that she can live more comfortable in a nicer place. It's her money, so what if it goes to the nursing home? It's money well spent.

I'm not sure what you mean my co-mingling of funds Ralph? I too have a joint account with my mother. It doesn't have much money in it and I just use it to pay her bills since her hand writing is shaky. Should I be keeping track of what is spent?

First, I think you mean "quit claim deed" and second and foremost who knows what the Medicaid law will be in 5 years with our current mess in Washington. Your planning could be all for naught. Best to not plan on Medicaid.