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How
Medicaid Views Joint Accounts With Children
One asks, "I've added my kids' names to my
bank account. Will Medicaid look at this asset as being
countable?"
Yes! The entire amount is counted unless you can prove some or all of
the money was contributed by the person who is on the account. This
rule applies to cash assets such as:
1. Savings and checking accounts.
2. Credit union share and draft accounts.
3. Certificates of Deposit.
4. U.S. Savings Bonds |
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James E. De Martino is licensed
to practice in the State of New Jersey.
We specialize in NJ Medicaid and Asset Protection legal services. |
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