Q. Are Life Estates for Everyone?

A. No. While a life estate can be advantageous in a Medicaid context, individuals of larger estates with significant estate tax exposure should consider other options, such as the Qualified Personal Residence Trust. The life estate is only one of many estate planning and asset preservation tools. It is important to consult with an attorney in your state regarding Medicaid, real estate, tax, and estate administration laws applicable to your personal circumstances.