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i live in kansas and my mother is at a rehab hospital after a minor stroke, they are telling me that they want to put her into a retirement home, im wondering about her money which has both our names on it its in cd,s money makets and such, will the retirement home want that info or am i allowed to keep it from them
State/Country relating to Question: Kansas Already Tried: its not a retirement home but a nursing home, if all her assests are in both our names do they have access to it or do i need to cash it all in she is 76 yrs old
Thank you for using JustAnswer! If your mother's name is XXXXX XXXXX type of property, you have to disclose that information to the retirement home. Failure to do so, later down the road, could result in possible prosecution for Medicaid Fraud. Good luck and best wishes! I hope that you find this information to be helpful and this answer to be ACCEPTable!
even if both our names are XXXXX XXXXX and they are in long term cd,s the 1st of which doesnt mature till 2011 and can it be gifted to me i also have Power of Attorney is there something i can do
Because her name is XXXXX XXXXX she is considered to have a property interest in them. Because of the timing of things, even if you have a power of attorney right now and transfer names, they will still have to be disclosed. What you want to do is contact a local estate planning attorney WHO SPECIALIZES IN MEDICAID planning to carefully review your circumstances and planning options, if any. Do not just seek any estate planning attorney who writes wills, etc. You need to make sure that the attorney specializes in Medicaid planning.
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