How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Brent Blanchard Your Own Question
Brent Blanchard
Brent Blanchard, Family Law Attorney
Category: Family Law
Satisfied Customers: 1975
Experience:  Eleven years of experience in family law, from pre-nups, divorces, child custody and support mod
Type Your Family Law Question Here...
Brent Blanchard is online now
A new question is answered every 9 seconds

Do I report t s security a cd that was in my mothers name and my name second ifi bought a

This answer was rated:

Do I report t s security a cd that was in my mothers name and my name second ifi bought a home
Thank you for your question.

Social Security because of SSI?

If SSI is why you ask, it depends on whether you actually OWN it, including as a co-owner, or if your name is "on" the CD as a contingent "pay on death" beneficiary.

Ownership = MUST report as an asset. Same for both Social Security SSI AND for Medicaid if you're on that too.

Pay on death beneficiary = no report until and UNLESS the person comes to own it. Before the current owner actually passes away, being a pay of death beneficiary of a CD or any other financial account is what the judges more than a hundred years ago called a "mere expectancy". The law doesn't care if the owner is 115 years old and diagnosed with terminal cancer, we still do not *know* that the 22-year old relative who is supposed to get the financial account won't die FIRST and therefore get nothing.

Thank you.
Brent Blanchard and other Family Law Specialists are ready to help you

Related Family Law Questions