Right to Occupy v. Life Estate

Grantor executes deed and reserves right to use and occupy premises as
personal residence for life. He cannot rent property, but is
responsible for maintenance and taxes. There is nothing prohibiting the
sale of the life estate, but upon the sale of the whole premises,
grantor would receive no proceeds.

Does anyone have experience or problems with such a deed in regard to
Medicaid planning? Is this viewed as a life estate?

Paul T. Fabiano, JD, LLM

Tax Counsel

Molewski Financial Partners

100 Gateway Drive, Suite 300

Bethlehem, PA 18017

Phone: 610-865-2600

Fax: 610-865-2408

pfabiano_at_molewskifinancial.com <mailto:pfabiano_at_molewskifinancial.com>

www.molewskifinancial.com <http://www.molewskifinancial.com/>

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Received on Thu Aug 17 2006 - 06:59:35 PDT