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Which of the following is TRUE? The look back period for Medicaid qualification is 60 months. One of the disadvantages of an FLP for the

  1. Which of the following is TRUE?

The look back period for Medicaid qualification is 60 months.

One of the disadvantages of an FLP for the general partner is that restrictions can be placed on the transferability of the limited partnership interests owned by junior family members.

By selling an asset in exchange for a private annuity, the annuitant/seller receives a constant stream of income for a specified term, and removes the asset transferred and any of its subsequent appreciation from her gross estate for estate tax purposes.

At the end of the trust term, the ownership of a residence held by a QPRT transfers back to the Grantor.

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