16 Aug What should I know about this account in my name with Mom?
Shared accounts will show who contributed and who took money out. ...
Shared accounts will show who contributed and who took money out. ...
It's important to understand how gifting rules could come into play....
Joint accounts will be considered when someone needs Medicaid coverage....
It depends on how the money is taken out of the account. ...
You can access the account but you won't have a tax liability. ...
The original account owner is responsible for taxes on the account. ...
Shifting assets to prepare for Medicaid isn't a simple act. ...
A joint account gives rights to both account holders. ...
Be cautious before you sign any paperwork on behalf of a parent. ...
Gift tax isn't due unless you surpass the federal exclusion amount. ...