Need to apply for medicaid for mom with alzheimers. She has small non qualified annuity and life insurance with cash value at 10 k. Can I as POA, just remove the money , take the penalty and use money that was removed for penalty period for nursing home care?
1 Answer from Attorneys
If you access the money, it needs to be applied to private pay for the nursing home until your mom qualifies for Medicaid. If you use it otherwise, you could cause a penalty on the onset of your mother's Medicaid benefits. Your proposed plan doesn't really get you anywhere.
Related Questions & Answers
My mother and step father are getting up in age. They have a son together but my... Asked 5/03/20, 6:32 pm in United States Indiana Elder Law
I have power of attorney over my father. I am needing advice on how to remove my... Asked 11/19/19, 8:26 am in United States Indiana Elder Law
My mother is going on medicaid and I understand her credit card debt is unsecured.... Asked 4/29/19, 5:25 am in United States Indiana Elder Law
I live in Indiana, have a right of survivorship/joint tenancy deed and a mortgage on... Asked 1/31/19, 10:18 am in United States Indiana Elder Law
My mother is showing signs of dementia, she's 71 years old, I live 12 hours away and... Asked 5/13/18, 12:36 pm in United States Indiana Elder Law