Legal Question in Wills and Trusts in Texas
About 5 years ago my father in law put money in a savings account for me. It also has his name on it. He told me I could use it at any time. Now he is in a nursing home. I am his POA. His nursing home fees is private pay as of now. I was told by the social worker that when his funds get low then I should apply for Medicaid for him. The nursing home would then take his S.S. check. I need to know , since the savings account was for me , do I have to use it for his care. What will Medicaid say if I draw something out that was meant for me.
1 Answer from Attorneys
Look at the bank account signature card. If the account is a pay on death account or POD account the money is his until he passes. If you are the account holder and he just has signature authority it is your money. If he is the account holder and you simply have signature authority, it is his money.
The safest approach is to report the account to Medicare and to draw money out for his care.
Get a lawyer in your town that practices elder law.
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