We are considering putting my great aunt into a nursing home. She and my grandmother have a number of cds that they are co-owners of. Is it legal for my grandmother to re-invest those cds in her name only, so to avoid them being garnished by a nursing home? The monies in the cds primarily came from my grandmother, so she doesn't want to lose them, but we don't want to do anything illegal in the state of Oklahoma concerning medicaid requirements and laws.
Asked on 3/26/10, 11:59 am
1 Answer from Attorneys
Mitty Means
Mohanty Means, P.C.
Your grandmother may do that. However, the state will be able track the transfer and if medicaid is used for your great aunt, the State or DHS will request that the guardian pay a certain percantage of the cost. The amount of contriution will probably be equal to her assets.
Answered on 3/31/10, 12:15 pm
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