- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
My mother in law and my wife have had a joint bank
Posted on 3/26/26 at 7:16 am
Posted on 3/26/26 at 7:16 am
Account for at least 6 years. My father in law may require full time nursing care.
If my inlaws eventually have to spend down to medicaid to cover my father in laws care can the government drain the bank accounts?
My father in law doesnt even know the accounts exist.
If my inlaws eventually have to spend down to medicaid to cover my father in laws care can the government drain the bank accounts?
My father in law doesnt even know the accounts exist.
10
Posted on 3/26/26 at 8:21 am to bleedsgarnet
Can you just not move the money out to just your wife's account.
Is the joint account for a business reason?
Is the joint account for a business reason?
Posted on 3/26/26 at 8:27 am to bleedsgarnet
He won’t qualify until his assets dip below the threshold. If you transfer the money it’s deemed a gift and a 5 year look back period applies.
Posted on 3/26/26 at 8:57 am to bleedsgarnet
LINK
Above is a thread you may be familiar with. I wrote this in order to help people like other people helped me.
Main answer always goes back to:
Ask a professional.
A financial advisor
A lawyer
A placement specialist.
I am none of these.
Good news is, some of those professionals are here on this site and they’ve been very gracious with their expertise. Listen to g tk them can save you a lot of money and time.
Sometimes they disagree though. And you’ll have to break down and consult an independent pro.
Above is a thread you may be familiar with. I wrote this in order to help people like other people helped me.
Main answer always goes back to:
Ask a professional.
A financial advisor
A lawyer
A placement specialist.
I am none of these.
Good news is, some of those professionals are here on this site and they’ve been very gracious with their expertise. Listen to g tk them can save you a lot of money and time.
Sometimes they disagree though. And you’ll have to break down and consult an independent pro.
This post was edited on 3/26/26 at 8:59 am
Posted on 3/26/26 at 9:32 am to bleedsgarnet
quote:You father in law won't be eligible to receive Medicaid until the bank account drops below a certain amount.
f my inlaws eventually have to spend down to medicaid to cover my father in laws care can the government drain the bank accounts?
Posted on 3/26/26 at 11:27 am to bleedsgarnet
Technically your mother in law owns 50%, the other 50% would be considered a gift that may or may not fall within the five year look back period. But, there are many ways to legally transfer the money in a lot of states. Here in Florida, we'd probably just do a personal services contract so we don't have to fight about the bank account and source of funds/lookback period.
Posted on 3/26/26 at 12:58 pm to bleedsgarnet
5 year lookback
Posted on 3/26/26 at 1:35 pm to bleedsgarnet
my wife who works in the field said, "if it is a joint business account and he is not listed, it is not part of his assets"
Posted on 3/26/26 at 2:10 pm to bleedsgarnet
Different states have different rules, and it may impact things if the applicant is in a community property state.
To get started, ask an AI program like Gemini or ChatGPT "how is medicaid eligibility determined for a spouse in (name of state)"
Then you can ask more detailed questions like How much income and assets can the non-applicant spouse retain?
If you can use TD, you can use AI. It's not perfect, but it's better than asking randos who lack the details of the situation.
To get started, ask an AI program like Gemini or ChatGPT "how is medicaid eligibility determined for a spouse in (name of state)"
Then you can ask more detailed questions like How much income and assets can the non-applicant spouse retain?
If you can use TD, you can use AI. It's not perfect, but it's better than asking randos who lack the details of the situation.
Posted on 3/26/26 at 6:01 pm to TigerintheNO
quote:
if it is a joint business account and he is not listed, it is not part of his assets
Not true. Medicaid looks at both spouses' assets unless there is a spousal refusal (not every state allows spousal refusal). I do medicaid planning for a living
Posted on 3/26/26 at 7:39 pm to TheOcean
This account in question is a personal account and is a decade old..
My father in law doesnt even know it exists. The banker told my wife it was untouchable when medicaid searched for moneys.
My father in law doesnt even know it exists. The banker told my wife it was untouchable when medicaid searched for moneys.
Posted on 3/26/26 at 7:50 pm to bleedsgarnet
quote:
The banker told my wife it was untouchable when medicaid searched for moneys.
Did that make sense to you at face value? I wouldn’t be surprised if a banker believed it would not be found by the State, but I’d be really surprised if they thought it was exempt if found.
Posted on 3/26/26 at 8:00 pm to bleedsgarnet
Tell them he’s illegal and they’ll set him up for free.
Posted on 3/26/26 at 8:03 pm to lsuconnman
The banker is actually a moron.
Posted on 3/26/26 at 10:53 pm to bleedsgarnet
Dumb question.
How does medicaid discover the 2nd bank account?
If it is checking with no interest, there isn't a 1099 generated.
Im not aware of any software that runs social security numbers through every mom and pop bank looking for non-interest bearing assets.
How does medicaid discover the 2nd bank account?
If it is checking with no interest, there isn't a 1099 generated.
Im not aware of any software that runs social security numbers through every mom and pop bank looking for non-interest bearing assets.
Posted on 3/27/26 at 6:03 am to lsuconnman
quote:
He won’t qualify until his assets dip below the threshold. If you transfer the money it’s deemed a gift and a 5 year look back period applies.
Correct. There is also an income threshold that is very low that trips up people as well.
Posted on 3/27/26 at 6:29 am to meansonny
LDH has some westlaw products. It pulls up a 50 page life history for anyone. All names, surnames, dobs, ssns, addressse, arrests, lawsuits, utilities, cable, associates, business partners, family members, etc. But, it’s unwieldy and typically used after someone gets flagged for whatever reason.
Honestly, I’d be more concerned about using Medicaid for long term care if you don’t absolutely need it. They burned through $50k on polygraphs alone for abuse claims last year for the two state operated facilities. Who knows what happens at the contracted ones.
Honestly, I’d be more concerned about using Medicaid for long term care if you don’t absolutely need it. They burned through $50k on polygraphs alone for abuse claims last year for the two state operated facilities. Who knows what happens at the contracted ones.
Posted on 3/27/26 at 6:32 am to bleedsgarnet
quote:
My father in law doesnt even know it exists. The banker told my wife it was untouchable when medicaid searched for moneys.
Banker is 100% wrong
When you submit a medicaid application, you submit a SSN/DOB/list of assets for both spouses
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News