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

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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.
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