DawnBalkom
Junior Member
What is the name of your state? Louisiana
I have a grandmother who is 90 years old. My mother is an only child. She (my grandmother) has several CDs, and a checking & saving accounts, that are listed under Mr. or Mrs (grandparents) and my mother's name. My grandfather died about 10 years ago. A secession was never done nor did he have a will. My mother wants to put all CD under her name only (she has my grandmother permission and power of attorney). Can she do this without it being considered a gift or do we need to gift out the money 11,000 per person/per year? What will Medicade think about this?
I have a grandmother who is 90 years old. My mother is an only child. She (my grandmother) has several CDs, and a checking & saving accounts, that are listed under Mr. or Mrs (grandparents) and my mother's name. My grandfather died about 10 years ago. A secession was never done nor did he have a will. My mother wants to put all CD under her name only (she has my grandmother permission and power of attorney). Can she do this without it being considered a gift or do we need to gift out the money 11,000 per person/per year? What will Medicade think about this?