Deferred Property Taxes - Your Heirs May Be Liable - Even if They Don’t Get The House
Monday, October 3, 2016
Under Oregon law, upon reaching a certain age, a home owner can often defer real estate taxes.
There are limits to these deferrals.
Under Oregon law, upon reaching a certain age, a home owner can often defer real estate taxes.
There are limits to these deferrals.
As discussed in another article published on this web site, Long Term Care Qualified Partnership Plan (QPP) insurance policies can be one way to save extra resources from Medicaid.
Please see the earlier article for a more detailed discussion of this idea.
Long term care insurance can increase the amount of assets you can keep when you qualify for Medicaid.
Long term care insurance can also increase the amount you can protect from estate recovery after you die, if you have been on Medicaid.
Sometimes a person wants to draft a new will or trust, or make changes to their existing estate plan including their existing will or trust.
In most cases, this should not be a problem.
Sometimes people have a child that they want to help become established in a home.
In some cases, rather than giving the child a down payment, or the like, there is a desire to simply transfer a house that the parent already owns to the child.