Question
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
- Which of the following is TRUE?
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| The look back period for Medicaid qualification is 60 months. | |
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| 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. | |
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| 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. | |
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| 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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