I have a joint banking account with my mother. Can I withdrawal the cash prior to her going into a nursing home without penalty? - AgingCare.com

I have a joint banking account with my mother. Can I withdrawal the cash prior to her going into a nursing home without penalty?

Follow
Share
1

Answer

Show:
If you are applying for Medicaid to pay for the nursing home care - Medicaid will look back five years at bank statements and request documentation as to how monies were spent. Your action might result in a penalty period for Medicaid.

If you are private pay at the Nursing Home - then it is not an issue.
Helpful Answer (0)
Reply to Kimber166
Report

Related
Questions