Will Medicaid count my savings account as an asset if Mom's name is also on it?

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My Mom has Dementia. We are in the process of applying for Medicaid and unsure about her name being on my bank account. I am single, never married. My Mom has always been on my bank accounts in case something happened to me, someone could access my accounts. She has never contributed to my savings account. We are in the process of applying for Medicaid for her.

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Come to recall, my foster dad had me on his account and we were both on federal benefits and no one ever bothered us. He had me on there for quite a while and he got more than me. The only rule he had was that the bills had to be paid before we touched any of the extra money. After bills, the extra money was fair game for whatever we needed it for, and not once did Medicaid ever bother us.
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mumtothree,

Disability benefits can be given to disabled people of any age. In my particular case, I was rescued from my abusive alcoholic parents who happened to have also killed my only bio sister two years before my birthday. I barely survived what killed my sister in 1965. I don't know how they got me the SSI or how long I had it, I'm assuming since age 13 since I became a ward of the state.

As for the able accounts, anyone getting any federal benefits from the government can get an able account. You may want to be very careful though, if you happen to go into the negative at your regular bank and it comes back to you're able account provider as ISF, you can get charged a very hefty fee, even if you had to withdraw money from your able account and back to the account at your regular bank to make it right. Today June 1, 2017 today was payday and I sent most of my money to my able account after bills were deducted. I can withdraw money later and have it sent back to the account specified. Anyone getting Social Security can have an able account. There are 10 different qualifying expenses for which you can use those funds. It was set up to be an investment account, but you can choose the bank safe option at set up. This is the safest way if you can't afford to lose any money through an investment that goes south. The banks safe option is FDIC insured, which is the option I selected since I have no financial help outside of my SSI and I badly need a car due to certain medical needs. I also have an estate open for my dad because someone things are pointing more and more to someone likely having taken advantage of my bio dad with Alzheimer's. The person who was his POA may have stolen from him and may have to return some property that may have been gained fraudulently since he wasn't competent to make competent decisions despite having Alzheimer's for years before he finally died with it. Come to find out through the funeral home who buried him, I now know who exercised POA for my dad and chances are possible that just from my recent findings, this person is at it again because between her and the funeral home, I was never contacted until UniCARE finally was able to find me. Whatever comes off the estate is going straight into my able account after a well needed car is obtained. The able account will help recipients to avoid the risks of having to use trusts because trustees very often aren't trustworthy. If you happen to be getting any type of Social Security from the US treasury in your state, you can apply for an able account if you also have Medicaid and food stamps.
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I understand that things will be getting a lot more difficult with Medicaid if the new proposed health care plan goes through. It includes major cuts to Medicaid spending across the board.
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You can spend it by paying for a private room, as a Medicaid room will be semi private.

Note:
Not all Elder Law attorneys deal with "Medicaid" !
I contacted an Elder Law attorney but does not deal with Medicaid !
Look for "Medicaid Attorney".
So much savings can be put into a trust !
Each month so much goes to the nursing home and resident receives so much.

But beware some trusts once the money goes in if that person passes away that is the end of the money !
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DontAsk, I thought disability had to manifest before age 26 to qualify for ABLE account. It is an excellent way for a Medicaid recipient to save in excess of the $2000 cap on assets, but may not be such a good place to "park" money for someone who is merely old. And it is still subject to estate recovery, but will not prevent the applicant's receipt of Medicaid-funded services during their lifetime. (So the conventional wisdom is 'spend ABLE funds first.')
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Consult an attorney. You have to presume that Medicaid will go after whatever assets they can. I heard of a situation where close a million dollars in assets were being seized by Medicaid.
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If you had an able account that's newly available, you could put extra money in there and not worry about this qualifying yourself. The able act was passed in order to give people getting federal benefits a better life by giving us a chance to save up more than just a little bit of money. The only thing though is if something were to happen to you, I read somewhere that Medicaid can and would grab the funds to compensate for any money they spent on you.
I think these are the savings accounts Trump was talking about when he was talking about Medicaid. If you need something Medicaid won't cover, the able account will be able to cover it for you as long as there's enough in the account. This is not all you can use your able account funds for either. In fact, there are about 10 different qualifying expenses with which you can use your funds from your able account.

For instance:

No car? No problem when you have an able account.

Medicaid won't cover something? No problem when you have an able account with enough funds to cover that expense.

You can now open an able account in any state (but you can only have one). This used to be restricted to just residents of your own state but now it's open to anyone who qualifies for one. For instance, if you get SSI, Medicaid and food stamps, you're automatically eligible for an able account.

Research the able account page and you'll find 10 different expenses with which you can use your funds from your able account.

Lastly, you will also get a debit card that comes with your able account. It can be used like any other card at the checkout. Just be sure to stay within the rules of using the able account if you don't want the IRS to come knocking. Definitely keep very good records as to what you spent your funds on so that you don't get taxed for using your funds. As long as you keep good records and only spend money on qualifying expenses, you'll have no problem as long as you stay within the guidelines
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I would not change anything at this point. A lawyer is a good thing. I took my Mom's name off of my Nephew's acct years ago because a lawyer suggested it.
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You should definitely get an elder law attorney retained. You will need it because of the rules Medicaid establishes. They may, quite likely, classify all funds in the bank account(s) the elder's money and Medicaid will disqualify.
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Yes they do proceed with what they call a "5 Year Look back" look back through all your history over the past 5 years on what assets, you have or had, if sold what happened to the money, have you sold anything for less than its market value, have you given any money away as a gift.
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