Idaho Admin. Code r. 16.03.05.837

Current through September 2, 2024

Section 16.03.05.837 - 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
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

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:

TABLE 837.02 - LIFE ESTATE TABLE
Age	Life Estate	Age	Life Estate	Age	Life Estate	Age	Life Estate
0	.97188	28	.96062	56	.79006	84	.36998
1	.98988	29	.95813	57	.77391	85	.35359
2	.99017	30	.95543	58	.76822	86	.33764
3	.99008	31	.95254	59	.75675	87	.32262
4	.98981	32	.94942	60	.74491	88	.30859
5	.98938	33	.94608	61	.73267	89	.29526
6	.98884	34	.94250	62	.72002	90	.28221
7	.98822	35	.93868	63	.70696	91	.26955
8	.98748	36	.93460	64	.69352	92	.25771
9	.98663	37	.93026	65	67970	93	.24692
10	.98565	38	.92567	66	.66551	94	.23728
11	.98453	39	.92083	67	.65098	95	.22887
12	.98359	40	.91571	68	.63610	96	.22181
13	.98198	41	.91030	69	.62086	97	.21550
14	.98066	42	.90457	70	.60522	98	.21000
15	.97937	43	.89855	71	.58914	99	.20486
16	.97815	44	.89221	72	.57261	100	.19975
17	.97700	45	.88558	73	.55571	101	.19532
18	.97590	46	.87863	74	.53862	102	.19054
19	.97480	47	.87137	75	.52149	103	.18437
20	.97365	48	.86374	76	.50441	104	.17856
21	.97425	49	.85578	77	.48742	105	.16962
22	.97120	50	.83743	78	.47049	106	.15488
23	.96986	51	.83674	79	.45357	107	.13409
24	.96841	52	.82969	80	.43659	108	.10068
25	.96678	53	.82028	81	.41967	109	.04545
26	.96495	54	.81054	82	.40295
27	.96290	55	.80046	83	.38642

Idaho Admin. Code r. 16.03.05.837

Effective July 1, 2024