Quote Originally Posted by Seamus Fermanagh View Post
Here the "lookback" rule is designed to prevent fraud. People will transfer official ownership of their assets to their children in order to qualify for Medicaid (welfare health care) to defray the costs of long term care. The lookback rule prevents folks from being diagnosed as needing long term care and THEN transferring assets so that the government can pay for them. One of the many charming regulations that sprout up around any health program that is not "fee for service."
Well, if you guys insist on private health insurrence...

I am reasonably sure that the seven year rule was established for your inheritance tax for like reasons. The government would not want the terminally ill or those in obviously failing health to sign over their assets in their final hours of life so as to beat the taxman. To do so on your deathbed would be fraudulent, but difficult to punish. I'm reasonably sure The Church would not even classify such a sin as "mortal," and I suspect that your family would be more than willing to do a couple of novenas on your behalf.
I have no idea how the Church feels about inherritence tax, but historically in England it was considered right to do anything to prevent the King and his sherriff from getting their grubby mitts on your assetts, because the King would take as much as he could to increase his own power and the sherriff had very sticky fingers.

Inherritence tax is the way the state prevents individuals from amassing power and wealth, it discourages frugality and palnning for the future because you loose you wealth when you die.