My mother was on my savings account for convenience purposes .I could leave the passbook at home and if I needed money she could have mailed it to me.I had the bank notarize a statement that say's this and that it was always considered my bank account and had my mother sign it .This happened after I had closed it 2 months ago..My father could be going into a nursing home soon for alzheimers disease.What will happen with this account?
I am assuming that your parents will be applying for Medicaid to cover your father's long term care costs.
In Massachusetts, any joint account is presumed owned by the person who is applying for Medicaid or his or her spouse. You can rebut the presumption by showing that you had contributed the money to the account.
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