Talk:Life estate
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unsigned and undated comment (pre-2012-02-03)
As a financial advisor, I have recently run across a situation where a client was advised by and attorney to put her home and a rental property in a life estate for the purpose of Title 19 planning, telling her this will protect her assets from siezure due to a nursing home stay. I am very doubtful of this because it appears revocable, and she continues to collect rents, pay taxes, and in general enjoy the use and profit of these properties. Does anyone have any comment or experience in thei? — Preceding unsigned comment added by 69.128.169.66 (talk) 20:27, 2005 March 29 (UTC)
A life estate is a viable Medicaid Planning tool. Most states only recover for a nursing home lien against the institutionalized person's "probate estate". Since a life estate passes without going through probate, this asset is not subject to recovery. However, some states have enacted expanded estate recovery allowing recovery against the life tenancy (in MA where I practice law expanded estate recovery was repealed in 2005). In an expanded estate recovery state the value of recovery will depend on the assessed value of the home as well as the age of the deceased. — Preceding unsigned comment added by 12.170.50.131 (talk) 16:53, 2006 February 23 (UTC)
Proposed merge
Agree. There is little to say about life tenants that is not covered in life estate. Legis 17:04, 12 October 2006 (UTC)
Notes about talk pages
This page is for discussing the content and condition of the wikipedia article Life estate—it is not a forum for seeking free legal advice. Dick G (talk) 06:45, 10 January 2008 (UTC)
Life estate
'A' owns a home worth $100,000 and enters into a Life Estate with his 2 sons ('B' and 'C').
Before 'A' dies, 'C' gets divorced.
'A' dies and both 'B' and 'C' want to sell the home and distribute teh proceeds 50 / 50.
Does 'C's former wife have legal rights to half of 'C' value (E.G. $50,000) ?? —Preceding unsigned comment added by 24.62.120.75 (talk) 23:15, 15 February 2008 (UTC)
clarification of example in article
"For instance, if Bob conveyed to Ashley for the life of Ashley, and Ashley conveys a life estate to another person, Brenda, for Brenda's life [an embedded life estate], then Brenda's life estate interest would only lasts until whoever dies first, Bob or Ashley." Should that last phrase be 'Brenda or Ashley'? -FZ (talk) 14:08, 29 January 2009 (UTC)
- It was corrected in [1]. Subsequently better names were used [2], but with an error, which I corrected.[3] - Patrick (talk) 09:00, 29 November 2014 (UTC)
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