My mom had been battling cancer for 13 years health rapidly began to decline last 6 months
She didn’t accept the decline, now she is in hospice and wants her affairs in order. She has commercial medical insurance thru job she retired from.
She had me find a P O A and wants me to change everything out of her name to mine to prevent it from being taking in probate court for medical bills. She owns her home and car paid off, and money in bank and credit union. Will a POA allow me to do these things? If I add my name to her account will that prevent them from taking her money ? Or is it best to start a new account? What do I need to do?
Do not transfer deed on her house. If she should need medicaid it would be considered a gift and subject to medicaid penalty. If you have provided her medically necessary care, in her home, for a period of two years you may be eligible to have the house excluded from medicaid recovery.
Consult with an elder law attorney for laws in your state. NEVER comingle funds.
She won’t be eligible for Medicaid due to her assets so she’ll be responsible for the balance her insurance doesn’t cover.
Is your mother Medicare secondary?
If not enroll her if she is eligible. Was she a federal government retiree? I am wondering why she doesn’t have a supplemental insurance.
I do know that just adding your name to a bank account won't protect it from creditors. The money in a joint account is considered to be owned by both owners so it would still be considered to be your mom's.
I'm sorry you are losing your mom. It's good that she is trying to get her paperwork in order. Don't take advice from strangers on the internet on this topic. Go get someone who knows the laws in your state to answer your question.