Q: Does transferring a rental home owned by a irrevocable trust trigger Medicaids look back period for the grantor?
A rental property owned individually was transferred into a irrevocable trust for estate & medicaid planning purposes.
1) If the same rental home is transferred into a LLC before 5 years of the irrevocable trust owning the same, would it retrigger the 5 year look back for the former rental home owner/ trust creator grantor?
2) If so is there any way possible to transfer the rental home into a LLC and avoid triggering the 5 year look back period?
For example if the same irrevocable trust set up and owned a L LC and the rental home was transferred into that LLC would the 5 year look back trigger be avoided since the rental home would be owned by the LLC, which is owned by the very same irrevocable trust?
Any information to both my questions would be appreciated.
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