Legal Question in Elder Law in Nebraska

Joint ownership of certificate of deposits

My father has joint ownership with my grandmother on several CD's (JWROS) originally taken out in 1994. She has entered a nursing home and applied for Medicaid. Some of the CD's were transferred last year and her name was taken off and transferred to another bank with better interest (his name, which was originally on the CD remained) and the CD's are now in my father's name and his children's. This accounts for about 1/2 of the CD's. The other 1/2 is the original CD's taken out in 1994. Medicaid allowed him 1/2 of the proceeds of her home (which was also jointly owned), but is not allowing him 1/2 of the CD's stating that my grandmother was the originator and, therefore, owns the full amount on all of the CD's. Shouldn't he be allowed 1/2 of all the CD's since he was originally on all of them? Please help.

Asked on 8/06/08, 2:54 pm

1 Answer from Attorneys

Duke Drouillard Drouillard Law, LLC

Re: Joint ownership of certificate of deposits

Medicaid will look at the source of the funds used to buy the CD's regardless of how they were titled. If the source of the funds belonged to grandmother, then they have a pretty good case for insisting that she was the originator.

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Answered on 8/11/08, 4:19 pm

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