If we have a joint tenant account, can I take half of it without any problem? 1 Answers as of September 17, 2014

Nine years ago, I became a joint tenant on my mother's checking account and investment account. She is in nursing care. We are spending down at $5400 per month. $50,000 is left in investment and $14,000 in checking. Before it is all expired and we transition to Medicaid, can I take half of the investment or checking without a Medicaid problem down the road? The funds would be applied toward a granddaughter's college expenses.

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Richard J. Keyes Attorney at Law | Richard J. Keyes
You need to talk to a Medicaid/Elder Law attorney in your state. By taking the money out of the account, you can disqualify your mother in terms of Medicaid eligibility. Spend the money on seeing an attorney first.
Answer Applies to: Missouri
Replied: 9/17/2014
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