BREAKOUT SESSION 3 | The Use of Life Estates in MO HealthNet Planning

This session will review life estates as a planning technique to achieve MO HealthNet eligibility, in addition to a brief overview of other real estate planning for MO HealthNet. 42 U.S.C. § 1396p(C)(1)(J) permits the purchase of a life estate in another’s residence without penalty if the purchaser resides in the home for a minimum of one year. This planning technique employs an entity of property law, the life estate. By creating a life estate for a client, property law confers on the holder of the life estate certain obligations and responsibilities with respect to the real estate. This session will include a review of life estates and Missouri property law and the overlap with MO HealthNet eligibility rules.
Speaker: Tabitha 'Nikki' Mitchell, Mitchell, Brown & Associates, LLC, St. Louis