QUESTION
IS THE TOTAL AMOUNT IN A JOINT ACCOUNT EXPOSED TO ONE 0F THE HOLDER'S LONG TERM CARE LIABILITY?
Asked on Nov 09th, 2012 on Elder Law - New Jersey
More details to this question:
MOTHER AND DAUGHTER HOLD JOINT CERTIFICATE OF DEPOSITS AND SAVINGS ACCOUNTS. MUST THE DAUGHTER'S HALF ALSO BE USED TO PAY FOR THE MOTHER'S LONG TERM CARE IN A NURSING HOME?
1 ANSWER
2 Awards
If there are joint names on an account, the MEdicaid intake worker will typically want to see that both parties contributed to the account. how long the account was in joint names and the source of the money. If the money is truly joint, and both parties contributed, then the money belongs to each.
Answered on Nov 10th, 2012 at 8:15 AM
Diana L. Anderson, Certified Elder Law Attorney This response is not legal advice and does not establish any form of attorney/client relationship