Your State Can Come After Your Joint Assets?

2 Jun 2022 · 1 min

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In this brief advisory, the presenter warns that state Medicaid programs can pursue recovery of assets after a recipient’s death, extending beyond the individual’s personal property to include jointly owned bank accounts and, in some states, jointly owned land. The speaker emphasizes that this estate‑recovery can affect spouses or other co‑owners, potentially ruining their financial lives. Viewers are urged to understand these risks before enrolling in Medicaid for long‑term care and to follow the channel for further information.

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You need to know that the state can take your jointly owned bank accounts and jointly owned land in some parts of the country. If you received long-term care benefits through a Medicaid program, after you die, the state can seize not only your personal bank account and anything else you own personally, they can also go after your jointly owned bank accounts with your spouse, your jointly owned land in some states. Before you or an aging parent signs up for Medicaid benefits, you You need to know what the state can come back and seize once you're gone. The ability to seize jointly owned assets can ruin the lives of other people, and you need to know about this before you get into Medicaid. Follow this channel to find out more.