G Determining the Current Market Value of Life Estate and Remainder Interests
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G Determining the Current Market Value of Life Estate and Remainder Interests

 

Program

Manual Section

ALTCS

MA705T.1

 

Procedures

Take the following steps to determine the CMV of a life estate interest (without powers) or remainder interest in property:

Step

Action

1

Open the Life Estate and Remainder Interest Table (from socialsecurity.gov).

2

Find the line for the life estate owner's age as of the last birthday.

3

Multiply the figure in the “Remainder” column for the age of the life estate owner by the CMV to get the value of the life estate.

 

NOTE     This procedure does not apply to a Life Estate with powers. In that situation, the person can still sell the property and the full value is counted.