On p. 46 of “How to Protect Your Family’s Assets from Devastating Nursing Home Costs” (Seventh Edition, 2013), Mr. Heiser states that “Up to $1,500 might be placed in a bank account…and if it is designated as a funeral fund, it will be released from countable assets.”
My mother-in-law (in Ohio) has checking and assets accounts (one each). If she wants her assets comment to be released as a funeral fund, does she need to give some specific instruction to her bank to “designate” it as such?
Thanks!
J.
Article source: http://medicaidsecretsforum.com/showthread.php?tid=871