My dad lives at home. My mother fell and had a brain bleed last year after battling Alzheimer’s for 9 years. We no longer could care for her at home. After 9 months in a nursing home we finally got approved for Medicaid. We had to do a spend down of $1250 in order for her to qualify. We were advised for my dad to open up a separate checking account with just his name on it so he can have his SS check directly deposited to that to keep her from going over the $2000 limit. We have been transferring the auto deductions from their joint account to just his new account. While we were calling these places to change the banking information, (mostly their life insurance ), we got to thinking that maybe we should change his beneficiaries on those policies and take mom’s name off them, which we did. We left her beneficiaries the same, because we were unsure if we could do that legally.
My question is, who gets her life insurance policy money when she passes? Does the money go to the nursing home, or to my dad who is her beneficiary? It’s not much. They probably total less than $10 k. Also, was it okay for us to change his beneficiaries?
Medicaid has her covered, but we pay the Nursing Home about $720/month now from her SS check. My dad was able to keep all his money. Any advice would be appreciated. We live in S.C.