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If my mother would need to go into a home in the next few years and she has cashed savings bonds, and given that money to her daughters as a gift. Would that money be looked at by Medicaid?

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Glad for this thread -- My mother has two $1000 savings bonds. I called her bank (Regions) and was happy to hear that they would redeem them for her. Now I just have to get her up and in to the bank. Grrr, another afternoon's bites the dust.
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Savings bonds!!!. Nothing like doing it old school style.
Imho you have 2 different issues here:
Ownership of the bonds (whose assets they are) and
How savings bonds work.

I was executrix for an aunt who loved doing E bonds both as a way of saving $ & as gifts - you name the occasion (graduation, wedding, birthday) she gave them and did it as co-owner and a few as POD. When she died, bonds where still being held by the persons she gave them to. Why they still held them was varied: some had not matured (usually 30 years), some being held for college & some because they didn't know wtf what to do with them. Bonds showed her & them as co-owners. You DO NOT need both owners signature to redeem bonds, you just need 1 of the persons listed on the bond to redeem. So none of the bonds were included in her estate, they were the property of the co-owner, as you need only 1 person to claim ownership of the asset to redeem them. The co-owner claimed ownership.They were NOT my aunt's asset, this according to the probate judge. BUT the bonds issued POD (not as co-owners) would be part of her estate but not subject to probate because they were POD (like a bank account POD). If bonds are POD, you need a certified death certificate to redeem or re-register them. How the bonds were done & how they are held likely will make a big difference as to whether it's an asset for her (and for Medicaid review) OR they were a gift and before the 5 year look back AND what the intention was for the bonds. You should talk with an elder care attorney to see what the viewpoint is on bonds are for your area in dealing with Medicaid and probate later on.

Tax wise bonds, I don't think, exist until redeemed or re-registered so I bet they really aren't going to show up on Medicaid financial radar. I was dealing with old school style paper bonds (before the electronic ones they do now) so that might have changed.

You need to look at the bonds to see maturity date. Redeeming them before then (could be 10, 20, 30 years) could cost.

One last thing, banks aren't really selling bonds anymore. My late aunt would be just heartbroken about this! So most banks will not redeem them at all & you have to go to the Treasury Dept on-line to do this. Some old white-shoe type banks with a Trust Dept may still deal with savings bonds. Good luck & let us know what's what.
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Yes, many money given to relatives will be viewed as "gifts" as per Medicaid.
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