My friend was in an ACLF and was transferred to a nursing home. The ACLF wrote a check for his balance in his account. He doesn't want this amount of money in the nursing home. He wants a savings account in a bank. I'm not sure if he signed up for the home to recieve his monthy allowance because of this crazy pandemic and lockdowns. It's hard to get a visit and know what's going on. Is it ok to open a savings for him with the check? Can he have the 2 accounts at the same time? I am the only person he has to help. His parents are both in nursing homes.
- A separate account shouldn’t be an attempt to hide money from Medicaid etc.
- The Nursing Home contract may have a clause about ‘no other accounts’, although it seems unlikely.
- The Nursing Home may want the monthly allowance paid into an account at the Nursing Home, so that they can deduct fees without having to present a bill (and sue if the bill isn’t paid). They should of course account for what is happening with the account, but may require a simple method to collect what is owed to them.
- If your friend simply wants to put this one check into a Savings Account, he should be able to phone a bank to request the paperwork to be posted to him, so that he can fill it out and post it back with the check. However Savings Bank interest is so low that there isn’t much to be gained.
- If your friend doesn’t trust the Nursing Home to hold his funds properly, it might be better not to get involved. Distrust can get a lot worse, and you don’t want to be part of it.