Keeping mothers stocks

What is the name of your state? Penna.
I don`t know if this question belongs here,but here goes. I am considering a nursing home for my elderly mother. All her assets have been in mine and my brothers name for 5 years. Just recently I discovered she has about $18,000 in stocks. My question is,will they be able to touch them when she goes to the nursing home? Or should I transfer them beforehand? Thank You

What, you didin't get enough from your mother already? She kept those stocks in her name, so they still belong to her and the $18000 should help pay for her care. When the money runs out, the taxpayers will be on the hook for the rest. If you tried to transfer the stock to your name(s), it would be Medicaid fraud.

She requested that we should get them. Plus the money that is our names is still hers. We have power of attorney. We use that money to support her because she is in the mid stages of Alzheimers disease and can`t handle her own finances, thank you!

If you have a POA, you can cash in those stocks now to pay for her care from those funds first.

First you said they were in your name & your brother, then you said everything is still in your mothers name with you as POA. Which is it?

I suspect nothing was relinquished to you 5 years ago, only poa and all her funds will go to nh care until they run dry, then the tab will be picked up.

You can't transfer any property or money now or it's fraud. Too late.

Trebor1950 said:

What is the name of your state? Penna.
I don`t know if this question belongs here,but here goes. I am considering a nursing home for my elderly mother. All her assets have been in mine and my brothers name for 5 years. Just recently I discovered she has about $18,000 in stocks. My question is,will they be able to touch them when she goes to the nursing home? Or should I transfer them beforehand? Thank You

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Discovered? Touched? Great choice of words. Why don't people understand that a person's money is theirs, and is for their support and well being? Not their greedy kids?Why should the taxpayers foot the bill for her care while you and your brother spend HER money? I just do not understand why people think they are entitled to keep someone's money and let someone else pick up the tab!

~IF~ you use the money already in your and your brother's name to support her, then why are you now wanting the $18,000 so the nursing home can't get it? You should have just posted you are working on working the system!