[WSBARP] Avoidance of Medicaid Spend-down / lien

[Jim Doran]

Hello Estate Planning Gurus:

This is a recurring question as our generation matures.

Client's father is a widower now.  He owns 15 acres that he bought 35 years
ago.  It is valuable agricultural land.  Father wants to do whatever it
takes so that he doesn't lose his estate to the state for long term care,
as he has seen with his brother.  The old man is 85 and very healthy.  The
five year look-back is not a concern, at this moment.

We do not want to transfer the property outright inter vivos to the four
children for the obvious capital gains issues.

What kind of irrevocable trust can be used to keep the property and protect
it from Medicaid and still benefit from the stepped up basis when the old
man dies?

I hope this is not way too complicated.  Any suggestions are appreciated,
including reference materials.

Thank you.

Jim Doran

James R. Doran
Attorney at Law
100 E. Pine Street -  Suite 205
Bellingham, WA 98225
(360)393-9506
jim at doranlegal.com
www.doranlegal.com
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