If I’m POD on my late father’sbank account and my mother is on medical assistance in a nursing home, is this my money or will Medicare want it?
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If I’m POD on my late father’sbank account and my mother is on medical assistance in a nursing home, is this my money or will Medicare want it?
Asked on December 29, 2012 under Estate Planning, Minnesota
Answers:
Catherine Blackburn / Blackburn Law Firm
Answered 11 years ago | Contributor
I do not practice law in Minnesota. However, I would be very surprised if the Minnesota Medicaid authorities considered the POD account to be your mother's asset. It will be distributed directly to you, not to your mother. Unless your mother has some kind of right to this money, it should not count.
I suggest you call the Minnesota Medicaid authorities (this is handled by MediCAID rather than Medicare) and ask if this will impact your mother's benefits in any way. If they say yes, call an Elder Law attorney in your area to verify and dispute this.
Good luck.
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