My mom has lived with us for past 3 years. I’m just hearing now, how her money can’t be mixed up with our money. Well, since she’s been with us, that’s what I’ve been doing and now, I don’t know how to undo it.
.....why do I have to ...undo it?
I am only child, mom has no siblings. Dad passed in 2002.
so, why do I have to keep the money separate?
who would I have to be accountable to??
Mom has Medicaid & Medicare.
I get that if she goes into any kind of facility, THEY would look into it, but I’ve no intentions of putting her away. I will take care of her until she passes.
So, my question is: if mom passes in my home, who would I be accountable to??
please don’t reply that no one knows the future ( I know y’all mean well), I just need to know the answer to the question posted.
thank you for taking the time to help me.
the 800 # helps!
My nephew is on Medicaid. I supply his checking acct, his savings acct and his Special Needs acct. My name is on all 3 but they are his accts.
I don’t mean to sound harsh, but my question isn’t being addressed
The nice people that answered my post keep referring back to what Medicaid will do. I know they all have good intentions and trying to make sure I’m prepared for whatever the future holds.
I now understand about Medicaid, and I will look into the recommendations that Medicaid will need IF SHE IS PUT INTO A FACILITY THAT MEDICAID PAYS FOR.
what I’m trying to find out is: If mom passes away, in my home, who would be looking into our finances?
any advice?
I am with Alva here. No one will question if ur an only child. Does Mom have a Will and you Executor? If not, you will go to Probate and become her Administrator. This will give you the ability to get to her financial stuff, like accts, IRAs, stocks, CDs etc. You can get info on her debts and pay them off. But as the Administer, since there is no will, the State will determine who is the beneficiary which as an only child will be you.
I still don't understand how you do the yearly renewal for Medicaid if Moms money is in the same account as yours? Doesn't your state require a bank statement.