What is the name of your state (only U.S. law)? Iowa
My siblings and I were parteners in a L.L.C. for a farm where we grew up.
My mother was also a partner. In January of 1999 my siblings and I had an appraisal done to determine the value of the farm. It was valued at 285,000.
My mom's share of that value was 41.6% -118,560. At that time the partners divided mom's share among ourselves. This was done on the advice and planning of an Estate Planning attourney. In March of 2003 my mother went into a care facility. She was paying for this through Social Security and Medicaid. My mother passed away in February of 2008. Now the State of Iowa is coming to the partners and asking for reimbursment for the funds paid to my mother. They are saying that because of the 5 year lookback period they are allowed to do this. My guestion is are they allowed to do this, because it is my understanding that at the time the shares of the L.L.C. were distributed the lookback period was only 3 years.
My siblings and I were parteners in a L.L.C. for a farm where we grew up.
My mother was also a partner. In January of 1999 my siblings and I had an appraisal done to determine the value of the farm. It was valued at 285,000.
My mom's share of that value was 41.6% -118,560. At that time the partners divided mom's share among ourselves. This was done on the advice and planning of an Estate Planning attourney. In March of 2003 my mother went into a care facility. She was paying for this through Social Security and Medicaid. My mother passed away in February of 2008. Now the State of Iowa is coming to the partners and asking for reimbursment for the funds paid to my mother. They are saying that because of the 5 year lookback period they are allowed to do this. My guestion is are they allowed to do this, because it is my understanding that at the time the shares of the L.L.C. were distributed the lookback period was only 3 years.