joint accounts

[pele]

The state is NC. I am listed on savings, checking and stocks and bonds that my mother owns. What would happen if she has to go into a nursing home and has to spend down her assests, can I take my half before this happens? I don't want this for me, but for her, so I could use the money to benefit her. I have already helped her out with home health aides which Medicare does not cover. What is the best thing to do? Thank you.

 

[loku]

joint property and nursing home

There are very strict laws, with criminal penalties, designed to prevent people from giving their property away at the last moment, or even within a few years of the time that they enter a nursing home, if the result is that the Government will be expected to pay the costs of nursing home or other care, rather than the person himself from his or her assets.

An elder care attorney may be able to help you create a plan that will both protect much of the assets and make her eligible for Government benefits.