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<DIV><FONT size=4>She can just give it outright to son. If she is healthy
for 5 years, fine. If not he might have to give it back to her.
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<DIV><FONT size=4>Losing a capital gain tax benefit is less expensive than
paying $10,000/ month.</FONT></DIV>
<DIV><FONT size=4></FONT> </DIV>
<DIV><FONT size=4>She will have to pay down with private pay to $2000 after the
5 years.</FONT></DIV>
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<DIV style="font-color: black"><B>From:</B> <A title=teunisj@wyerslawpc.com
href="mailto:teunisj@wyerslawpc.com">Teunis J. Wyers</A> </DIV>
<DIV><B>Sent:</B> Tuesday, January 02, 2018 3:39 PM</DIV>
<DIV><B>To:</B> <A title=wsbapt@lists.wsbarppt.com
href="mailto:wsbapt@lists.wsbarppt.com">wsbapt@lists.wsbarppt.com</A> </DIV>
<DIV><B>Cc:</B> <A title=lorrie@wyerslawpc.com
href="mailto:lorrie@wyerslawpc.com">Lorrie Knowles</A> </DIV>
<DIV><B>Subject:</B> [WSBAPT] Can you just give it away and stay healthy for 5
years?</DIV></DIV></DIV>
<DIV> </DIV></DIV>
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<DIV dir=ltr>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.<BR clear=all>
<DIV> </DIV>-- <BR>
<DIV class=gmail_signature data-smartmail="gmail_signature">
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<DIV dir=ltr>Teunis J. Wyers @ Wyers|Wyers, Attorneys
<DIV><SPAN style="FONT-SIZE: 12px">Oregon Office:</SPAN>
<DIV> 216 Columbia St. - P.O. Box 917</DIV>
<DIV> Hood River, OR 97031</DIV>
<DIV> (541)386-2210/610-1520 (fax)</DIV>
<DIV>Washington Office:<BR>
<DIV> 218 E. Steuben St. - P. O. Box 421</DIV>
<DIV> Bingen, WA 98605</DIV>
<DIV> (509) 493-2772/493-2406 (fax)</DIV>
<DIV>Email: <A href="mailto:teunisj@wyerslawpc.com"
target=_blank>teunisj@wyerslawpc.com</A></DIV>
<DIV>Web: <A href="http://www.wyerslawpc.com"
target=_blank>www.wyerslawpc.com</A></DIV>
<DIV> </DIV>
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