Does my Life Estate Qualify for Real Estate Tax Relief?
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Q. My mom has owned a home in Fairfax County for over 20 years. Last year she came to your firm and did an irrevocable Medicaid Asset Protection Trust. Your firm deeded her house into the trust, but had her keep a life estate in the house. She now wants to apply for real estate tax relief, which you suggested, but Fairfax County is saying she may not qualify due to the fact
that the trust her home is in is irrevocable. Is this true? How about in Maryland or DC, or in other parts of Northern Virginia? We have some friends in similar situations. Thanks for your help!
Critter Corner: What Tax Changes Should I Be Aware of Before I File?
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I’m getting ready to file my taxes for 2020. I know that last year was different than most years in many ways, including getting stimulus checks from the government. Is there anything I should know before I file my taxes?
Order Books by Evan Farr, 4-Time Best-Selling Author
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Certified Elder Law Attorney and Medicaid Asset Protection Expert, Evan H. Farr, CELA, has written four best-selling books in the field of elder law. For more information and to order, click here.
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