Mom on my savings account. Will that keep her from getting Medicaid?


My mom is on my savings accounts (I have 3) and the reason I did that years ago was that I was single and I wanted it to go to her care if I died. Now, she's ill and a nursing home isn't far off. Will her name on my accounts keep her from getting medicaid? Should I go ahead and get her off? Two are trust accounts with it going to her if I die. The other one is a joint that is solely mine. She has never contributed anything to them. Will this disqualify for Medicaid if she needs it soon? Has been diagnosed with Parkinsons.

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How the accounts are " titled " are going to be central in all this. I'd gather up the info on all banking and any old legal done (DPOA, wills, etc) and get an appointment with an elder law attorney to get a review done and change or up date as needed.

Also about the accounts that name mom as beneficiary upon your death.....bad idea. Whatever $ this is will count as an income or asset for her and could make her ineligible for medicaid. Add to this that you - since your dead - won't be here to deal with this for mom makes it even more a problem. Comprende? Look to change to a trustworthy family member.

If mom is looking like needing a NH soon, I'd suggest you find a couple of NH that would take her as a "medicaid Pending" and get the list of documents that will need to be submitted for the application and start to find these.

Where is moms SS, pension, any other income going into?
That needs to be its own account in moms name with no comingling of her income & your money.

What we did for my mom was her checking account was in her name & tied to her SS# and this account got her income direct deposit; I was a signature on the account & the account was POD (pay on death) to me. When mom went into a NH on Medicaid, I wrote the NH a check each month for moms copay (the SOC -share of cost) required by Medicaid. And moms bank account built up each month by $ 60 a month as that was her states personal needs allowance. Often a NH will press upon family to make them the direct receiver of moms SS & retirement BUT you as her DPOA do not have to do this. Mom died earlier this year BUT the account since it was POD became mine and I have continued to keep it open to use for anything " mom" through probate. It has made things easier & works for me. Give some thought as to what works for you to manage moms finances for the future. Good luck.
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Trackie, you need to find a good Elder Care lawyer that is well-versed in Medicaid in your state. The fact that your mother's name is on a bank account (checking or savings doesn't matter) means that Medicaid will consider that all the money in that could/is hers. An attorney will be able to review your accounts as they are set up and see about setting up new Medicaid compliant accounts for her care. My MIL has has had Parkinson's for 10+ years and it's a difficult road. Take care.
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