I have POA and have saved back about $7,000 at Moms request so that I would have some money when she dies. I am disabled and am receiving about $1100 a month. She has an ins policy that is worth $5000 that was intended for me. What happens to the checking accts, the money I have saved and the ins policy when we apply for Medicaid ? Oh, the money I have saved is in cash, because I feared it would effect my disability benefits or something else. Mom gets just over $2,000 a mo from soc sec. I don'know what I should do. We haven't meant to break any rules, just trying to avoid poverty

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Couple of ?'s -
- the 7K is it in an account in your name only? or is this all cash?
- are you & mom commingling funds, like is your SSDI $ and mom's SS and retirement going into totally separate bank accounts? or into a joint account?
- the 5K life insurance policy, is it term or whole life? and if whole life what is it's cash value?
- what does your state have set as it's ceiling for Medicaid income? the states vary on this, but what it is will make a difference for eligibility. Like for my mom, it was a maximum of $ 2,064.00 a month. If it's more than than and the source of income is a guaranteed / qualified source, they can do a Miller Trust to qualify.
- does mom have over 2K in non-exempt assets?
- does mom have a prepaid funeral & burial policy done?
- what is your living situation… in mom's name, your name, or do you rent?

There are all sorts of options out there but so much depends on details and how your state runs it's programs.
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Are either of you planning to apply for Medicaid? Others on this site know more about this than I do, but I think it depends on how Medicaid is applied in your state. Does the Insurance policy have any cash value?

I know that disabled people have special allowances. Are your check and your mom's going into the same checking account? That might complicate things.

Do you need to find placement for your mom? Two thousand sounds a little high to qualify for Medicaid, from what I have heard, but perhaps someone here can give you more precise information. I think you can go online and find details for your state and how much monthly income is allowed.

I do know that when you apply, they will ask for copies of bank statements and a list of cash assets. Having cash assets of over $2000.00 would be problematic, if it's her money.

Also, you say you are on her joint checking account. I discovered that a person is not supposed to handle the funds in bank account where another gets their social security check deposited, unless they are officially the beneficiary payee. If you look on the Social Security website about beneficiary payee, you'll see what I mean.
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