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Should I Give My House to My Kids?
May 13 @ 1:30 pm - 3:00 pm$10
AT LIFELONG ($10)
Description: It is a common estate and long term care planning strategy to keep a “life
estate” in your home and transfer the “remainder interest” to your children or other
beneficiaries. The purpose is to shelter the equity in the home from long term care
expenses. This transfer is subject to the “five year look-back” for Medicaid eligibility, and
there are planning options that should be considered. Karen McMullen will provide
information for your consideration, including income tax consequences of such transfers.
Presenter: Karen J. McMullen, attorney at Levene Gouldin & Thompson, concentrates on
areas of elder law, estate planning, municipal law, and residential real estate. She acts
as the delegate to the Elder Law and Special Needs Planning section of the NYSBA for
the 6th Judicial District, is a speaker at local Bar Associations and free senior legal
clinics and volunteers her time to speak on the topics of estate planning and elder law.