What is the name of your state? New York
My mom and I are trying to do some financial planning in the unfortunate case that she becomes ill and has to be put in a nursing home. She has most of her bank accounts joint with me and we were wondering if that was the best way? Does the nursing home take 1/2 of the money in the account or all of it? Should we put my name on some of the accounts and take my mom off? Any information on this matter would be greatly appreciated. Thank you!!
My mom and I are trying to do some financial planning in the unfortunate case that she becomes ill and has to be put in a nursing home. She has most of her bank accounts joint with me and we were wondering if that was the best way? Does the nursing home take 1/2 of the money in the account or all of it? Should we put my name on some of the accounts and take my mom off? Any information on this matter would be greatly appreciated. Thank you!!