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ElmoHongZito

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  1. Assets is a broad term. There are qualified and unqualified assets when considering eligibility. How long the 80k lasts and how many things are purchased over time is non-relevant. As far as the car, I am the co-buyer and I put 5k down on it when we purchased it back in 2016 before she was recieving any public benefits. I would think that as co-buyer I can pay it off any time I want without it affecting her elegibility. She is allowed a modest car.
  2. Isn’t a third-party special needs trust for people with physical or mental disabilities? What if my mother does not have physical or mental disabilities?
  3. Is me buying a plane ticket where she is the passenger or buying something on Amazon shipped to her address considered income or an asset for her??? Hard to understand how that would be the case. The car is a corolla that I financed for her and I put down 5k of my money and it was before she had any public benefits. That’s right...even though you want to make me out as a fraud, I have looked out for my mother benefits or no benefits. Its my credit and my debt. I would think that I can pay off the approximately 7k remainder of the loan if I feel like it and it would not affect her assets just because she drives it and pays the $220 monthly payment on it. Yes its pretty obvious from your previous posts that you “suspect” the worst of me. If I am not sending her money, does she have a “change in income”? Aren’t only “qualified assets” reportable? Are there any “qualified assets” on Amazon? This may be the case and maybe that is the route we end up going but I highly doubt that this will be suggested strategy of an elderly law attorney if we hired one. Hence why I posted the thread on this forum to see what that that strategy may look like based on the specifics I provided.
  4. Wouldn’t that be irrelevant either way since my aunt was co-owner of all his accounts and this “handwritten will” is something no one has seen just something we heard her say?
  5. @adjusterjack I am glad you felt the need to post on here and make that type of accusation. So if I decided to pay my moms car off tomorrow from my current bank account and buy her something off amazon every so often or a plane ticket to visit her grandchildren, am I scamming the government of public benefits?
  6. Thanks in advance for your answers.My grandfather passed around mid 2018. My aunt who he lived with and took care of him was the co-owner and beneficiary on all of his accounts so my understanding is that 100% of all his accounts default to her once he passed. There was no estate, trusts, or will ever set up. Supposedly he once wrote a hand written will but it was never notarized so it holds no legal value.My mother is below poverty level and her only income is about $800 per month from social security.My aunt wants to give my mother around 80k however that would cause my mom to lose certain public benefits she currently recieves like medicaid, premium free medicare part A & B, food stamps, and HUD subsidized housing.In order to maintain my mothers benefits and not put her in a worse financial position than she is currently in, could my aunt simply wire the money to my account and then I could pay off my mothers car, any small debt she has, and moving forward when she needs something I can buy it for her online and have it shipped to her deducting it from that money?My understanding is that if my aunt did this she would have to file a gift tax return since the amount exceeds 15k however it would not be subject to taxes unless she exceeds the lifetime exemption gift amount which is over 5 million.Thoughts?
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