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• Convenience accounts The following policy applies only to joint accounts of persons who are not married to one another:

When a person's name appears on a joint account, assume he or she is part owner of the assets in the account. Inform the member that he or she has a right to present evidence showing he or she did not deposit any assets into the account.

To show that he or she does not own or co-own any assets in the account, he or she must present all of the following: ◦ A signed statement explaining: ◾ Who owns the funds in the joint account ◾ The reason for establishing it ◾ Who made the deposits to the account ◦ A signed corroborating statement from the co-holder of the account ◦ A copy of the change in the account which removes his or her name or restricts his or her access If the co-holder is incompetent or a minor, obtain a statement from a knowledgeable third party. Then, decide whether to accept the person's statement. If you decide he or she is not a co-holder, apply the decision retroactively as well as prospectively. When no third party is available, document the reason. 16.4.2 Jointly Held Real Property Apportion an equal share of any real property or any income derived from real property to each owner. To apportion, the equity or income must be available. This page last updated in Release Number: 18-02 Release Date: 8/10/2018 Effective Date: 8/10/2018 16.5 Burial Assets 16.5.1 Irrevocable Burial Trusts Per Wisconsin law, when a person makes a pre-need agreement with a funeral provider to purchase funeral or burial products and services (not including burial spaces), all payments made under the agreement are trust funds, including interest and dividends, until the person’s death. For Medicaid purposes, Wisconsin law stipulates that such trusts may be made irrevocable as to the first $4,500 of the funds paid under the agreement. The irrevocable amount of such a trust is referred to as an irrevocable burial trust and is an exempt asset. If the total value of an otherwise irrevocable pre-need agreement with a funeral provider exceeds $4,500, the amount over $4,500 is revocable and is a countable asset. Interest and dividends, if any, are exempt only if they accrue to irrevocable burial trusts and the trust agreement specifies that they are irrevocable. For burial trusts established in another state, all amounts that are irrevocable by the laws of that state are exempt. Any question about any state's law should be referred to corporation counsel. Each Medicaid fiscal test group member may have one or more irrevocable burial trusts.