She is in a nursing home and on Medicaid. Policies totaled $3500. He doesn't want to spend it on his home due to their ages. He is wanting to give the money to his nephew who has been helping with bills, yard work, etc. How does he go about doing this legally ? Someone told him it could be put onto a bank cd in the nephew's name. Any advice ? They live in West Virginia.
2 Answers
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It's laudable that he wants to give money to a nephew who's helped out, but I'm not sure Medicaid would agree. Whoever the "someone" is doesn't have helpful advice - even if the surrender weren't in conflict with Medicaid rules, money could be invested for a relative in any number of ways.
I think you best wait for the Medicaid experts here to offer advice or contact an elder law attorney before your father does something he regrets.
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