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Medicaid: Assessment of transfer penalty on sale of life estate affirmed

Assessment of transfer penalty on sale of life estate affirmed. Conservators sold life estate for $1,500, then sold the applicant’s home for $55,000 after putting $13,397 into repairing the home. A transfer of resource penalty was assessed because the life estate interest was .58914 percent of the home value, which is well below $1,500. On appeal, assessment of the penalty was affirmed, but the penalty was recalculated to deduct the $13,397 paid by the conservators.

OSAH-Franklin-Gatto-12-2008.pdf (December 15, 2008).

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