An CD in your name that lists your mother as a beneficiary is not considered her asset for Medicaid eligibility purposes. However, If she is also listed as a co-owner, then the CD will be considered hers, unless you can prove that the money in the CD was all contributed by you. Further, if she transferred the CD to you 4 years ago and now applies for Medicaid, the transfer will cause a divestment penalty. In turn, that will cause a period of Medicaid ineligibility (the duration of ineligibility is calculated based on the amount of the transfer). If the Medicaid application is not made until more than 60 months after the date of the transfer, then there will be no divestment penalty as the transfer would then be beyond the 60 month look-back period.
