If a man and a woman live together, but are not married, and the woman applies for Medicaid, would the state count the man...Read more
No and Yes. The UTMA account belongs to the child, so it should not be counted as an asset when the grandfather applies for Medicaid benefits. But since the account belongs to the grandchild, any deposit by the grandfather of his own money will be treated as a transfer of assets for purposes of Medicaid eligibility. It's the old saying, "you can’t have your cake and eat it too."
For more information about UTMA accounts, click here.
Medicaid Rules, etc