Yesterday's mail told us that Max's stock had been transferred to MyGuy's name, which the company insisted was necessary before it can be disposed of.
But it is actually up for sale now, and hopefully will sell quickly. While its value is down from yesterday, it's nearly doubled from when we checked in the spring. Absolutely need to get that out of his possession.
i can't help but wonder, though, how the kink of needing to be sold in MyGuy's name will affect this Medicaid deal. Proceeds will be immediately deposited in an ARC II Trust, a means by which we don't need to spend Max's resource but it won't be counded against him. But the technicality may be considered that we are taking it over, a bad thing in guardians.
Sometimes these types of things can become very complicated! Because you are the guardian is the reason they have made the check payable to "Your Guy". You will need to deposit the check so that when you do your next court reporting you can show that the check went into your account and then left again, in it's entirety. As far as Medicaid, when the money is received you should report to them that fact. The Arc Trust will write them a letter stating that the full amount was deposited into the trust - crossing all the t's and dotting those i's.
ReplyDeleteThank you,Melissa. (Melissa is the person we'll deal with when we open that ARC account.)
ReplyDeleteIt sounds like the time of year might work in our favor, since they always check our accounting in the late summer. Surely to heaven we'll have this accomplished by then. And you will definitely hear from us IMMEDIATELY when we have that check!