Elder Law Minute - Joint Bank Accounts and Medicaid

In this Elder Law Minute, Wes Coulson discusses the Medicaid rules and how they apply to joint bank accounts. Having your child's name on your bank account can cause problems when applying for Medicaid. Medicaid considers joint bank accounts to only belong to Medicaid applicant. Even if the adult child withdraws money from the account in the five years before their parent applies for Medicaid, it is still treated as a gift transfer by the applicant.