nursing home care
my mother has money in cds.the cds have her name and my name[her son]on the certificates.if she has to go to a nursing home for care,can they take the money from her cds to be used for her care if my name is also on the certificates?
1 Answer from Attorneys
Re: nursing home care
In my opinion, the nursing home would be able to place a lien against 1/2 of the value of the cd's because you are the owner of 1/2. This is tricky. Mom should put the cds in your name now,
well before something happens. This is the best
asset protection planning you can do at this time. I hope my answer is helpful. Now whether
the nursing home could force a sale of the cds
is another matter. In theory this would be
possible, but it would be quite a court fight.
However, certainly I believe that the nursing
home would go the route of a lien against the
cds.
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