Generally, the transfer of a home for less than fair market value will leave a Medicaid applicant with a hefty penalty. However, if the transfer is to a devoted son or daughter that moves in and provides such care that it delays the applicant’s entry into long-term care, then a legal strategy called the child caretaker exception may apply.

Many of our clients live in an increasingly mobile world, owning property or assets in multiple countries, or maintaining dual citizenship. They may also be United States (US) expatriates or a US person married to a non-citizen spouse. The estate planning process for these clients is likely to be more complex because each country has different laws or statutes regarding wills, trusts, and taxes. As a result, it is imperative that estate planning practitioners have a basic knowledge of the applicable US and foreign laws and rules, as well as commonly used estate planning strategies.  It is not enough to assume that a will or trust created in the US will be honored in another country. 

Symposium is a one-of-a-kind gathering of the finest minds in estate planning and business law. Featuring top-notch and practical education from leading experts in trusts and estates, unparalleled (and unforgettable) networking opportunities, and modern techniques for growing your practice, Symposium has one goal in mind: helping you achieve the practice you want.