For people who have an estate tax problem and a large portion of their estate is their personal residence, a Qualified Personal Residence Trust (“QPRT”) should be considered. The concept of the QPRT was created by the IRS as part of the valuation regulations issued twenty years ago and in the hands of an accomplished estate planning attorney is a highly effective means by which the value of the taxpayer’s residence can be artificially reduced. This is achieved by the use of a combination of … [Read more...] about Qualified Personal Residence Trusts (QPRTs)
Medi-Cal Qualification-Home Sweet Home
When it comes to issues of Medi-Cal and the primary residence, there are two situations which need to be considered, qualification to receive Medi-Cal benefits and Medi-Cal recovery against the home after a person has died. Qualification Although there are several situations which can result in the home being considered exempt for purposes of qualifying to receive Medi-Cal benefits, all of which are set forth in Cal Code Regs. Tit. 22 §50425, there is one exemption which normally makes all the … [Read more...] about Medi-Cal Qualification-Home Sweet Home
