I have a joint account with my eighty-nine year old mother, with her tax ID. Can she take herself off the account or make me primary owner in order for her to qualify for medicaid to pay for home health care?
While we can't comment on qualifications for medicaid, we can say most banks have a policy that a person is not removed from an account. That account must be closed and a new account opened with the desired owners.
There is no difference between a primary owner and a person listed second, third or so on. Each is an owner on the account. Tax reporting may go to the person named first, but that shouldn't affect your question.
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While we can't comment on qualifications for medicaid, we can say most banks have a policy that a person is not removed from an account. That account must be closed and a new account opened with the desired owners. 