Imohr, I was quoting doneit to try and answer her question. I went back and put a notation in that it was her post. Then down below the quote I tried to answer her questions.
I do not have a revocable trust, If something is revocable and you have any control in the way it is used, the amount that you can authorize be spent is countable by Medicaid. Not eveyone who makes a revocable trust is even concerned about possibly applying for Medicaid so it is different for everyone.
As for your question: Absolutely do not put your daughters name on your checking account, if she had a divorce, bankrupcy, or was sued you could loose your funds. If you applied for Medicaid and she had written a check on the account unless you could prove it was something she bought for you they would count it as a gift. Read the answer I gave to done it.
As far as your Will you ask will that do, what are you asking, if it will do in order to save your assets from Medicaid? absolutely NOT, anything you have access to and can liquidate Medicaid will count. I am not sure if that is what you are asking or not??????
Vickie When you say anyone is the VERY BEST I would have to differ with you on that. There is always someone who know more than the next person and on and on, that is how we learn. Yesterday when the Hospice Nurse was here we were discussing some Medicaid issues that one of my friends were getting ready to face, I was having to rush to get ready to go and help her get qualified, the Nurse said "I know nothing about that stuff, it is hard to understand." I quickly told her "I know absolutely nothing about clinical things." Each person has their own subject that they are more familiar with because of different areas they have either worked in or had experience through life in. Anytime anyone says someone is the BEST, we can always look over our shoulder and find someone who is better but thank you anyway for the compliment.
I must sign off for a few days or weeks now as I am getting carried away. I always get too carried away with these subjects.
Jane, I am sorry to see you go. Please don't stay away so long. Thanks so much for all your help and we really appreciate it. I hope things work out for you and your dh. Lois