Life Estate As Asset Transfer

01. Transfer of a Remainder Interest. When a life estate in real property is retained by an individual, and a remainder interest in the property is transferred during the look-back period for less than the fair market value of the remainder interest transferred, the value of the uncompensated remainder is subject to the asset transfer penalty as described in Sections 831 through 835 of these rules. To compute the value of the life estate remainder, multiply the fair market value of the real property at the time of transfer by the remainder factor for the participant’s age at the time of transfer listed in the following table: TABLE 837.01 - REMAINDER TABLE Age Remainder Age Remainder Age Remainder Age Remainder 0 .02812 28 .03938 56 .20994 84 .63002 1 .01012 29 .04187 57 .22069 85 .64641 2 .00983 30 .04457 58 .23178 86 .66236 IDAHO ADMINISTRATIVE CODE IDAPA 16.03.05 – Eligibility for Aid to Department of Health and Welfare the Aged, Blind, & Disabled (AABD) Section 837 Page 66 (7-1-24) 02. Transfer of a Life Estate. When a life estate in real property is transferred by an individual during the look-back period for less than fair market value, the value of the life estate is subject to the asset transfer penalty as described in Sections 831 and 835 of these rules. To compute the value of the life estate, multiply the fair market value of the real property at the time of transfer by the life estate factor for the participant’s age at the time of transfer listed in the following table: 3 .00992 31 .04746 59 .24325 87 .67738 4 .01019 32 .05058 60 .25509 88 .69141 5 .01062 33 .05392 61 .26733 89 .70474 6 .01116 34 .05750 62 .27998 90 .71779 7 .01178 35 .06132 63 .29304 91 .73045 8 .01252 36 .06540 64 .30648 92 .74229 9 .01337 37 .06974 65 .32030 93 .75308 10 .01435 38 .07433 66 .33449 94 .76272 11 .01547 39 .07917 67 .34902 95 .77113 12 .01671 40 .08429 68 .36390 96 .77819 13 .01802 41 .08970 69 .37914 97 .78450 14 .01934 42 .09543 70 .39478 98 .79000 15 .02063 43 .10145 71 .41086 99 .79514 16 .02185 44 .10779 72 .42739 100 .80025 17 .02300 45 .11442 73 .44429 101 .80468 18 .02410 46 .12137 74 .46138 102 .80946 19 .02520 47 .12863 75 .47851 103 .81563 20 .02635 48 .13626 76 .49559 104 .82144 21 .02755 49 .14422 77 .51258 105 .83038 22 .02880 50 .15257 78 .52951 106 .84512 23 .03014 51 .16126 79 .54643 107 .86591 24 .03159 52 .17031 80 .56341 108 .89932 25 .03322 53 .17972 81 .58033 109 .95455 26 .03505 54 .18946 82 .59705 27 .03710 55 .19954 83 .61358 TABLE 837.01 - REMAINDER TABLE Age Remainder Age Remainder Age Remainder Age Remainder IDAHO ADMINISTRATIVE CODE IDAPA 16.03.05 – Eligibility for Aid to Department of Health and Welfare the Aged, Blind, & Disabled (AABD) Section 838 Page 67 (7-1-24)