[Fredslist] Question for our Legal/Tax Members

[Larry Dresner]

Couple, in their mid 70's.  Husband has recently declined to the point where
he doesn't recognize his wife or children.  He's in a nursing home, using
his LTC policy, too well off financially for Medicaid. She has POA on their
joint checking/savings account as well as both their names being on the
account(s). She's wondering if there is any benefit to her removing his name
entirely from their joint account(s).  Husband wouldn't be able to sign
anything.  I don't think so but would appreciate your opinions.

 

Thanks.

 

Larry

 

Laurence Dresner, ChFC, RTRP

(516) 578-1337

 

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