I am confused about how Medicaid looks at US Savings Bonds as an asset. Mom has around $10,000 is Savings Bonds and both of our names are on them. I thought that Medicaid would consider the entire $10,000 as an asset she would need to spend down. Bot someone recently told me that, since both of our names are on the bonds, Medicaid only counts half their value, i.e. $5,000. Does anyone have any experience with this? Many thanks!

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You really need a elder lawyer to get you through the medicaide maze do not go directly to social service they will tell you what is best for them after my husband died they wanted me to get medicaide anyway they saw dollar signs in their sleep my daughter works in social service in another county and she said no way. If it is a spouse the money belongs to both but in your case you need to know all the rules, even if it is $5,000 for her she might have to spend it down in order to get medicaide and it also depends on when your name appeared on the bond now in most states there is a five year look-back period and soon will be longer. Our lawyer had me pay a retainer of 5 of his hrs. that probably the length of time he would have to spend on doing the work himself-ater our first meeting I worked on it for 3 weeks then my husband died and I had him keep the rest so I could use his time for details of his passing getting life insurance my part of his pension etc and still have time left to use toward a new will for me etc-so do not get scared and think you have to put down tons of money to find out what is involved believe me I cried more than once just looking at the list of what is required and see if you can get a social worker to help-check with your local office of the ageing many have lawyers donating their time to help but it is very important you know what the rules are because they do change and remember do not let anyone tell you you are responsible for her expenses unless she gave you a lot of money to keep it from medicaide good luck and do not try to do it alone it will drive you crazy.
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