mom purchased Certificate of Deposit POD
My mother is entering a nursing home in Indiana. She purchased several Certificate of deposits with my brother and I listed as beneficiaries POD. Can the nursing home take these? Do I have the right to cash these out before her death with her signature or will I have to repay them?
Asked on 9/29/08, 12:05 am
1 Answer from Attorneys
Mary J. Hoeller, R.N., J.D.
Attorney At Law
Re: mom purchased Certificate of Deposit POD
You need to consult an Elder attorney before making any decisions about this. Any move could subject your Mother to a transfer penalty period. Mary
Answered on 9/29/08, 7:44 am
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