Cash Kept at Home the Day You Die — 6 Things Most Never Know

The day you die, every account in your name locks and the safe deposit box is sealed. Nothing in this country locks a drawer. So the money you kept at home, because you wanted it close and out of their hands, sits in a house full of people with no record anywhere of how much it was. Six things start moving that day. Four of them arrive whoever is standing in the room. This is education, not legal advice. Probate rules and policy wording are set by your own state and your own insurer. In this video: 00:00 The drawer nobody locks 01:30 #1 The freeze reaches the bank. It does not reach your house 02:55 #2 Someone signs a list of everything you owned, under oath 04:11 #3 Your payable on death form stops at the bank door 05:14 #4 Any one of them can tell a judge the list is short 06:23 #5 If Medicaid paid for your care, the state has a claim 07:42 #6 The house goes empty and the policy starts counting 09:13 The one thing under all six 09:40 Where my ground runs out 10:02 The six, in order THINGS TO ASK ABOUT / OFFICIAL LINKS: • Medicaid estate recovery, the federal overview — https://acl.gov/ltc/medicare-medicaid-and-more/medicaid/medicaid-estate-recovery • Texas guide to the Medicaid Estate Recovery Program — https://www.hhs.texas.gov/regulations/legal-information/your-guide-medicaid-estate-recovery-program • Payable on death accounts, plain language — https://texaslawhelp.org/article/how-to-transfer-a-bank-account-after-death-payable-on-death-bank-accounts • Free legal help for people over 60, Eldercare Locator — https://eldercare.acl.gov • Find your state or local bar's lawyer referral service — https://www.americanbar.org/directories/lawyer-referral-directory/ If your mother or father keeps money in the house, do not ask them how much. Ask them who else knows where it is. #SeniorFinance #EstatePlanning #ProbateHelp #Seniors65 #CashAtHome