[WSBAPT] Can you just give it away and stay healthy for 5 years?

[Teunis J. Wyers]

Client is a widow. Owns home worth about $350K free and clear, with a basis
of about $110K, and an annuity with $56K in it.  Her son suggests that she
gift the home to him now, understanding that he will miss out on a stepped
up basis, but thinks she is healthy enough to stay out of care for 5
years.  My guess is that it's not that simple.  What do I tell him?  I know
that we would not want to reserve a life estate, because that would create
a link to a Medicaid reimbursement claim if she did go on care at any time.

-- 
Teunis J. Wyers @ Wyers|Wyers, Attorneys
Oregon Office:
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Email:  teunisj at wyerslawpc.com
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