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2010 Tax Basis Rules and Medicaid Planning - What happens to my Life Estate?

The estate tax changes in 2010 are not only playing havoc with estate plans, but asset protection planning for those concerned with long term care costs as well. I came across this informative article " Which Pre-2010 Medicaid-Oriented Transfers of Homes Get a Step-up in Basis under the Modified...

Life Estate Deeds May Put Child's Interest In Home At Risk to Creditors

In Florida many parents create Life Estate Deeds with their children in an attempt to avoid Probate on their homes. A Florida Life Estate Deed is a document which changes the ownership of a home or other piece of real estate. Essentially it creates a present interest and a future interest. A traditional...