Elder Law Answers
Does My Dad Need a Power of Attorney If I Can Pay His Bills With a Joint Bank Account?
My dad had a stroke, which has led to aphasia and mild dementia. He can't communicate the right words but he seems to...
Read moreWill Removing Funds From a Joint Bank Account Cause a Period of Medicaid Ineligibility?
- August 26th, 2014
Q
More than five years ago my mother and I set up a joint bank account. Three years ago I moved the funds to an account in my name only. My mother recently entered a nursing home and applied for Medicaid (in Rhode Island). Would any of this account be subject to clawback?
A
At first blush this appears to be a transfer that could cause a period of ineligibility for benefits for your mother. But the big question is whose money was it to begin with? If it was your money, you may be able to explain why you added your mother’s name to the account and not have a penalty. A Rhode Island elder law attorney can advise you on how the Medicaid agency treats these situations and whether the facts in your case make it possible to protect the funds, or perhaps half of them.
For more on the potential dangers of joint accounts, click here and here.
Local Elder Law Attorneys in Ashburn, VA
Jeffrey Hammond
Hammond and Associates, LLC, Elder Law, Estate Planning, Wills, Trusts, Probate
Bethesda, MD
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Ron Landsman
Ron M. Landsman, P.A.
Ron M. Landsman has been practicing elder law since 1983, before it was known as elder law, originally with Landsman and Laster, Washington, D.C., then Landsman, Eakes and Laster, also in Arlington, VA, and since 1990 in his own practice in Montgomery County, Maryland. He has been among the most active members of the...
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Jeffrey Hammond
Hammond and Associates, LLC, Elder Law, Estate Planning, Wills, Trusts, Probate
For Jeffrey Hammond, the practice of Elder Law is personal. Jeff’s many years of experience in law and in business did not prepare him for the crisis he faced in 2005 and 2006 when his father suffered a stroke and both of his parents suffered from dementia and other medical problems. At that time, Jeff began an i...
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Margaret A. O’Reilly is an estate planning and elder law attorney with over thirty-five years of legal experience. Attorney O’Reilly graduated from Duke University with a degree in psychology, and received her law degree from Northeastern University School of Law in Boston, Massachusetts. For over 15 y...
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