Tag: 3.3.15.4 Irrevocable trusts—created during or after look back

MDV 23/81821 (04/19/2007)
FMV of farm not reduced by land contract

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DHA Case No. MDV 23/81821 (Wis. Div. Hearings and Appeals Apr. 19, 2007) (DHS) ↓ Download PDF Fair market value is an estimate of the amount an asset will sell for in an arms-length transaction on the open market. In this case, the petitioner established an irrevocable trust and funded it with stocks, life insurance, […] Read more

MDV 13/106538 (01/04/2010)
No cure when son used distribution from IRR to pay for parent’s care

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DHA Case No. MDV 13/106538 (Wis. Div. Hearings and Appeals Jan. 4, 2010) (DHS) ↓ Download PDF A transfer to an irrevocable trust is generally a divestment if the trust cannot make payments back to (or for the benefit of) the grantor under any circumstances, but a divestment can be cured if the full value […] Read more