I know, I should consult with a lawyer, but just wondering if anyone knows the answer to this question. Wondering how Medicaid would view this. Parents have separate accounts, no assets except cash and a few stocks. Most of the money is in one parent's account, joint with caregiving child. That parent dies (no probate), so now all the money is in the child's name. This is not in a common law state. Would Medicaid look at deceased spouse's assets as part of lookback?
You have to come back and tell us what you find out. Really, I think this is the wave of the future. Married couples keeping their money separate.
Plus many things pass outside of a will so being intestate doesn’t matter on those items. Many people arrange their affairs to pass assets outside of probate. Like this POD bank account. It passes outside intestate rules but how that is looked at by Medicaid I do not know. I agree with JoAnn it is an interesting question.
only income is considered separate.
unless they were no married....then there is no common law marriage, so Dad is just an individual without a legal link to Mom