Estate Law

Estate Law Questions? Ask an Estate Lawyer.

Ask a Lawyer,
Get an Answer ASAP!

Estate Law

My mother and father have joint bank accounts. Would my

Customer Question
my mother and father have...
my mother and father have joint bank accounts. Would my mother still be eligible to apply for Medicaid if my father transfers money from the joint account into his own account?
Submitted: 1 year ago.Category: Estate Law
Show More
Show Less
Ask Your Own Estate Law Question
Answered in 10 minutes by:
3/31/2016
Estate Lawyer: RayAnswers, Attorney replied 1 year ago
RayAnswers
RayAnswers, Attorney
Category: Estate Law
Satisfied Customers: 44,514
Experience: Texas lawyer for 30 years in Estate law
Verified

Hi and welcome to JA. Ray here to help you.

No there is a five year look back period for such gifting and there would be a period of penalty for such transfers. My suggestion if you have time is to make small irregular cash withdrawals for "groceries ".They will review last 5 years for large transfers, here small withdrawals for cash will not be noticed.Rent safety box and deposit cash.Go off the grid here.

I appreciate the chance to help you today.Thanks again.

Ask Your Own Estate Law Question
Customer reply replied 1 year ago
Hello, You are my second opinion lawyer. The first lawyer said yes they do five years look back by since accounts are in both of their names, if he transfers monies into his own account, although it is a red flag is still legal and she would be eligible. This lawyer was the one that suggested the transfer. Also if my father did do this, and Medicaid declined my mother, would she be able to apply again later in the future.
Estate Lawyer: RayAnswers, Attorney replied 1 year ago

Give me your state here so I can give you reference

Ask Your Own Estate Law Question
Customer reply replied 1 year ago
New York
Estate Lawyer: RayAnswers, Attorney replied 1 year ago

Medicaid will want 5 years of records --bank accounts, checking, etc upon application.They will be looking and require explanation for any large transfers especially to the wife.

There are different eligibility rules for married couples..give me a second.

Ask Your Own Estate Law Question
Estate Lawyer: RayAnswers, Attorney replied 1 year ago

Reference

f you are disabled, blind, or 65 or older, you can qualify for Medicaid if your monthly income in 2014 is $809 or less for a household of one or $192 for a couple. That is equivalent to 87% of the Federal Poverty Level (FPL).

New York’s Excess Income Program does allow individuals to qualify for Medicaid by spending down their income on qualifying medical expenses until they reach Medicaid income limits. For example, if your income is $100/month, but you spend $300/month on medical expenses, then you qualify for Medicaid because you are spending down $300 to bring you under the $809 income cap.

New York also has a program in which you can pay your extra income to the Department of Social Services in order to maintain Medicaid eligibility. In addition, New York allows individuals of any age to establish pooled income trusts to set aside excess income and still qualify for Medicaid.

If you are considering a nursing home stay, remember that New York Medicaid requires nursing home residents to contribute almost all of their monthly income to the cost of their nursing home care. The state allows Medicaid recipients in nursing homes to keep only $50 per month for themselves.

To qualify for non-MAGI Medicaid, the kind of Medicaid that will cover long-term care services, you must have few resources. Resources are assets, like money in the bank, retirement accounts, land, and personal property like cars. The resource limit for a single person to qualify for non-MAGI Medicaid is $14,550, and it is $21,450 for a married couple who both want to qualify.

Some property does not count toward the resource limit. For example, you are allowed to have up to $814,000 of equity in your home, and you are also allowed to exempt one vehicle.

And you have to be careful what question you ask here--asking if it legal to transfer funds between accounts sure it is legal to do so, but then the questions is will it disqualify them and the answer is yes.And in that case they can legally penalize the person for such a transfer.

Ask Your Own Estate Law Question
Estate Lawyer: RayAnswers, Attorney replied 1 year ago

Here are the current income , resource limits and penalties..

http://www.seniorlaw.com/new-york-state-medicaid-law-2/

If they have significant assets here lets say $50k or more a NAELA lawyer to estate plan is critical.

These guys National Academy of Elder Lawyers are specially trained to avoid the medicaid land mines here.

https://www.naela.org/

Ask Your Own Estate Law Question
Estate Lawyer: RayAnswers, Attorney replied 1 year ago

If you skip down here to transfer of assets it walks you through penalties for transfers..

http://www.seniorlaw.com/new-york-state-medicaid-law-2/

There are some items that are exempt, often a new car is a great exemption.They can spend down for it relatives can use it for visiting and for dr visits and outings if those are possible , also they can have equity in the home.All of this is exempt.There are also medicaid qualifying annuities, these are short term say 6 months funds are laundered legally through these and come out as exempt resources.The risk here is that under terms of annuity if the person dies in the 6 months the remaining payments go to the state under estate recovery.

These are the kinds of things other than stashing cash that are options to deal with spend down and transfer.The NAELA lawyer can guide you to these kinds of things.

Thanks again appreciate the chance to help you.

Ask Your Own Estate Law Question
Customer reply replied 1 year ago
Thank you
Estate Lawyer: RayAnswers, Attorney replied 1 year ago

You are so welcome.If you can positive rate it is always much appreciated.

Ask Your Own Estate Law Question
Ask RayAnswers Your Own Question
RayAnswers
RayAnswers
RayAnswers, Attorney
Category: Estate Law
Satisfied Customers: 44,514
44,514 Satisfied Customers
Experience: Texas lawyer for 30 years in Estate law

RayAnswers is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

My husband has been driving me insane with questions regarding estate issues since his mother died. I'm not a lawyer! Thanks to JustAnswer, I was able to calm his concerns.

Loretta TIllinois

Thanks Adam!! - A very direct and understandable response - you have been a great help!

Happy CustomerEllicott City, MD

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

< Previous | Next >

Meet the Experts:

Thomas McJD

Thomas McJD

Attorney

3,170 satisfied customers

Wills, Trusts, Probate & other Estate Matters

Barrister

Barrister

Attorney

5,488 satisfied customers

17 yrs estate law, real estate. Wills/Trusts/Probate

RayAnswers

RayAnswers

Attorney

44,514 satisfied customers

Texas lawyer for 30 years in Estate law

Infolawyer

Infolawyer

Attorney

5,032 satisfied customers

Licensed attorney helping individuals and businesses.

Ely

Ely

Counselor at Law

1,841 satisfied customers

Fully licensed attorney in Texas in private practice.

RobertJDFL

RobertJDFL

Attorney

1,454 satisfied customers

Experienced in multiple areas of the law.

ScottyMacEsq

ScottyMacEsq

Attorney

1,167 satisfied customers

Licensed Texas General Practice Attorney

< Previous | Next >

Related Estate Law Questions
If there is sale of property in an estate, is the allocation
If there is sale of property in an estate, is the allocation of funds up to the executors or all the heirs?… read more
LegalGems
LegalGems
Juris Doctorate
10,698 satisfied customers
I am one of the beneficiaries of my grandparents estate. In
I am one of the beneficiaries of my grandparents estate. In the closing documents, my grandparents put in a paragraph regarding the trust for my aunt. It states that the bank which is currently the tr… read more
Barrister
Barrister
Attorney
Doctoral Degree
5,488 satisfied customers
Is the executor of an estate responsible for deceased's
Hello,Is the executor of an estate responsible for deceased's credit card debt . Deceased had no property and no car just a few certificates of deposit she left to her daughter who is the wife of the … read more
Barrister
Barrister
Attorney
Doctoral Degree
5,488 satisfied customers
I am an executrix of an estate. We are selling Real Estate.
I am an executrix of an estate. We are selling Real Estate. I was notified that in order to get Title Insurance the insurance company needs me to fill our a questionnaire. They are asking if Fed/State… read more
Barrister
Barrister
Attorney
Doctoral Degree
5,488 satisfied customers
Are you an estate lawyer? Mother and father divorced. Fathet
Are you an estate lawyer? Mother and father divorced. Fathet signed house share of the house to ex wife under rights of survivorship which is indicated on deed. … read more
RayAnswers
RayAnswers
Attorney
44,514 satisfied customers
My brother is the executor of my mother's estate. We are the
My brother is the executor of my mother's estate. We are the only heirs to the estate and it is to split 50/50. The funeral happened in September and since then I cannot get the lawyer or my brother t… read more
Infolawyer
Infolawyer
Attorney
Doctoral Degree
5,032 satisfied customers
I was just corresponding with Barrister, an Estate Lawyer. I
I was just corresponding with Barrister, an Estate Lawyer. I have another question. I am the Executrix of my father's estate. My step mother who has Alzheimer's and lives in a memory care unit will re… read more
Barrister
Barrister
Attorney
Doctoral Degree
5,488 satisfied customers
Inasmuch as the current federal estate tax for 2010 is zero
Inasmuch as the current federal estate tax for 2010 is zero (until changed), it is important to know whether there is a 100% carryover basis for estate assets or whether there is an allocable $1.3 mil… read more
Bill
Bill
Master's Degree
2,278 satisfied customers
My sister is the executor of my parents estate. The will
My sister is the executor of my parents estate. The will states that everything is distributed 50/50 (just 2 of us). My mom passed away May 2016 and my dad December 2016. The house was sold in June 20… read more
Barrister
Barrister
Attorney
Doctoral Degree
5,488 satisfied customers
The question regards to an estate if there was a will naming
Hi the question regards ***** ***** estate if there was a will naming 2 family members each get 50% of the bank accounts normally how long does it take to transfer the assets?… read more
Barrister
Barrister
Attorney
Doctoral Degree
5,488 satisfied customers
I"m an executor of an estate that has designated real estate
Hello - I"m an executor of an estate that has designated real estate to be inherited by a relative. There is no mortgage associated with the property.The issue is that the estate, without the property… read more
Barrister
Barrister
Attorney
Doctoral Degree
5,488 satisfied customers
This is regarding an ESTATE if the named beneficiary (who is
this is regarding an ESTATE if the named beneficiary (who is not in the will), they have to turn over the 401k assets from the deceased to be dispursed according to the will?? … read more
LawGuy
LawGuy
Juris Doctor
123 satisfied customers
I am a beneficiary of real estate property in an estate by a
Hello, I am a beneficiary of real estate property in an estate by a man that is now incapacitated. His power of attorney is the only other beneficiary for the estate. He will receive everything except… read more
Barrister
Barrister
Attorney
Doctoral Degree
5,488 satisfied customers
When considering the value of an estate in probate, is the
When considering the value of an estate in probate, is the value of the non-probate inventory added?… read more
originallawyer
originallawyer
Attorney at Law
Doctoral Degree
905 satisfied customers
The executrix of my aunt's estate sold the real estate and
The executrix of my aunt's estate sold the real estate and didn't inform the beneficiarys or make any payments as the will instructed. … read more
LegalGems
LegalGems
Juris Doctorate
10,698 satisfied customers
Estate question. I am an Executor of an Estate. The person
Estate question. I am an Executor of an Estate. The person who's Estate I am administering was in the middle of administering her husband's estate with the assistance of her lawyer, when the Executor … read more
TaxAttorneytoHelp
TaxAttorneytoHelp
Owner
Doctoral Degree
2,542 satisfied customers
I have more estate issue: right to occupancy vs. life estate
I have more estate issue: right to occupancy vs. life estate and what it means if a tenant is renting outside the primary residence. The deed is set up 50% trustee (me) and 50% stepmom's trust. Trust … read more
jb156200
jb156200
Associate Attorney
Doctoral Degree
461 satisfied customers
Does CO Estate or CA estate law, since the home is located
Does CO Estate or CA estate law, since the home is located in California, require the home to have an appraisal at a required point in time after the death of the decedent whose home is in a trust?I a… read more
Barrister
Barrister
Attorney
Doctoral Degree
5,488 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x