What happens having a joint account with my mom and now placed in a nursing home?

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gusto25 Asked March 2017

What happens having a joint account with my mom and now placed in a nursing home?

I have a joint account with my mom for years. Now that she is 92 we placed her in a nursing home which gets her money her deceased husbands pensions and Medicaid supplies the rest.being a joint account what happens? TY for any assistance in this matter.

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score 0 · Answer 1

Does the account have her SS number on it? If it does, it will be considered as being 100% her asset, even if you have put money into it. Really, any account that has her name on it can be considered 100% hers. Have you contributed any money to the account? I hope not, or it will be something you will have to work to untangle.

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Her money should go to her care. Medicaid is going to find the account sooner or later.

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What happens having a joint account with my mom and now placed in a nursing home?

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