My brother and I will be selling my mother's house in 2 weeks (we have POA). Mom lives with me right now and neither of us expects to see any inheritance. When my father passed the lawyer said that any assets should be in accounts for all three of us (thus my mother, my brother and I). My question is whether I can deposit the proceeds from the check into this account. If she ends up in nursing care we know that money will be depleted of course. We are in PA.
Case in point, if a couple owns a house and one goes into a nursing home under Medicaid, Medicaid is allowed to place a lien on half of the equity of the house. Now there are exceptions and maybe in your Dad's case an exception was used, like your Mom cared for your Dad 24/7 for two years with proof of such care being given.
I hope this all works out in Mom's favor.
From what I had read, your Dad's assets are now in your Mom's name, plus your name and that of your brother. Does that mean the deed to the house was changed to include all 3 names? Same with bank accounts, stocks, etc?