A person can live on $40,000 a year if...

@worrytoomuch, The assessor’s office said using a special needs trust for a child and putting the home in a special needs trust will not change the assessment of the property for property tax purposes. I also talked to an attorney who said the same thing.

The basis of the property rises to market value at the time of the last surviving spouse’s death.

So…looks like a win-win.

However, I would confirm this with your local assessor’s office and your attorney or cpa.

@dstark, thank you!