transfer between spouses/medicaid planning.

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    Joseph Damiens

    I’m looking at a letter from a resolution company, essentially their post-analysis letter. Their suggestions include: (husband owes 44k, wife only owes 11k, both of advanced age, husband early Alzheimers)

    1) Quitclaim all property to spouse, do an IA for wife and file OIC or Bankruptcy for Husband.

    2)) Sign all property over to a sister and file OIC for both H & W, I assume trying to claim medicaid planning as the reasoning here???

    These seem pretty agressive/illegal. I cant imagine transferring to a spouse and then filing an OIC is allowable. Are there strategies here that are within the laws? I’ve done some medicaid planning in the past, but nothing with the IRS double-checking our work.

    Eric Green

    They would be fraudulent conveyances, designed to frustrate collection and invalidated because the IRS Statutory lien has already attached.

    Joseph, can you send me a copy of that letter? Fax it to me at 203-286-1311.

    Joseph Damiens

    sure no problem. Thanks Erick, I assumed that had to be the case.

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