We found a lot of Series E bonds that matured years ago.
These bonds have my mother's name OR one of her kids names on them.
We are about to apply for at-home medicaid for my mother in NY.
The purchase dates were 1962 and prior, (before our births) leading us to believe that our GRANDMOTHER (who is deceased) purchase them.
However, so do have our mother's ss# on them (we believe possibly that they were transferred to her from our grandmother).
1. Will these bonds be tracked back to our mother as an asset in her medicaid application?
2. If we, as the "OR" on the bond cash them in and pay the interest OURSELVES on 1099s, will it come up on her application as well?
Someone recommended transferring ownership to our Dad (spousal transfers are ok - and they would be in trust whenever he passes) but I also read somewhere that the fed or IRS (can't remember which) requires them being cashed in since they've matured years ago.
Thanks for any input!