My husband has a joint CD with his mother and has been advised to cash it now. If she goes into a convalescent home and needs the money, does he have to give back all of it or just half?
Your husband should contact an attorney conversant with your state's MedicAid rules. It is common for state rules to include a "reach-back" provision that covers transfers of funds for a period of time before admission to MedicAid-eligible facilities.
Published on BankingQuestions.com 1/29/08
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Your husband should contact an attorney conversant with your state's MedicAid rules. It is common for state rules to include a "reach-back" provision that covers transfers of funds for a period of time before admission to MedicAid-eligible facilities.
