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Seminars & Lectures

THURSDAY
July 24, 2014

Massachusetts Continuing Legal Education

Preserving & Transferring Your Client’s Principal Residence
Date: THURSDAY, July 24, 2014
Time: 9:00 AM - 12:00 PM
Location: : MCLE Conference Center, Ten Winter Place
Boston
Speaker: Catherine E. Aloisi, Esq., Todd E. Lutsky, Esq., LLM

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Description:

For many individual clients, the home is the single largest or most-treasured asset, both financially and emotionally. To these clients, maintaining ownership of the home and keeping it in the family are often issues of utmost importance. Clients, both young and old, often come to their lawyer with preconceived notions of what must be done to protect or transfer their home. Because clients are commonly unaware of how various laws interact, a lawyer engaging in real estate, estate planning, or elder law needs to be knowledgeable about many areas of law, including the new homestead legislation, taxation, creditors' rights, the pros and cons of trusts holding real estate, MassHealth (Medicaid) planning, estate planning, and the effect of long-term care insurance on the preservation of the home.

"POST MORTEM PLANNING AND THE PREPARATION OF FIDUCIARY INCOME TAX RETURNS FOR DECEDENTS, ESTATES & TRUSTS" [Read More - ZIP]

THURSDAY
April 3, 2014

Foundation for Continuing Education

Medicaid Planning Update
Date: THURSDAY, April 3, 2014
Time: 9:00AM-1:00PM
Location: Andover: Marriott
Courtyard
Speaker: Todd E. Lutsky, Esq., LLM

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Description:

The Medicaid Planning Survival Guide includes new Annuity Rule Changes, Planning with Promissory Notes, and much more (650 + Pages with Sample Irrevocable Trust)

  • Mass. Medicaid Update - Deficit Reduction Act of 2005 as Adopted by Massachusetts Regulations and Related Planning Opportunities.
  • Medicaid Update - Federal Deficit Reduction Act of 2005 and Related New Rules.
  • Medicaid Update - Deficit Reduction Act of 2005! New rules coupled with old rules and related planning opportunities.
  • A Primer on Income, Gift and Estate Tax Consequences of Life Estates and Whether or Not They Should Still Be Used as a Planning Tool.
  • Repeal of Expanded Estate Recovery Rules and A Return to Probate Estate Recovery and a Review of the Old & New Rules & Remaining Opportunities.
  • DISCUSSION AND ANALYSIS.
  • Changes to the Treatment of Married Couple's Assets When One Spouse is Institutionalized.
  • New Appendix / Valuable Reference Materials & Sample Irrevocable Trust.
  • New 2013 Medicaid Numbers.

TUESDAY
April 15, 2014

Foundation for Continuing Education

Medicaid Planning Update
Date: TUESDAY, April 15, 2014
Time: 9:00AM-1:00PM
Location: Plymouth: John Carver Inn
Speaker: Todd E. Lutsky, Esq., LLM

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Description:

The Medicaid Planning Survival Guide includes new Annuity Rule Changes, Planning with Promissory Notes, and much more (650 + Pages with Sample Irrevocable Trust)

  • Mass. Medicaid Update - Deficit Reduction Act of 2005 as Adopted by Massachusetts Regulations and Related Planning Opportunities.
  • Medicaid Update - Federal Deficit Reduction Act of 2005 and Related New Rules.
  • Medicaid Update - Deficit Reduction Act of 2005! New rules coupled with old rules and related planning opportunities.
  • A Primer on Income, Gift and Estate Tax Consequences of Life Estates and Whether or Not They Should Still Be Used as a Planning Tool.
  • Repeal of Expanded Estate Recovery Rules and A Return to Probate Estate Recovery and a Review of the Old & New Rules & Remaining Opportunities.
  • DISCUSSION AND ANALYSIS.
  • Changes to the Treatment of Married Couple's Assets When One Spouse is Institutionalized.
  • New Appendix / Valuable Reference Materials & Sample Irrevocable Trust.
  • New 2013 Medicaid Numbers.

WEDNESDAY
April 30, 2014

The Great New England Credit Union Show

Protecting the Home: Trustworthy Transfer Techniques (What You and Your Clients Need to Know)
Date: WEDNESDAY, April 30, 2014
Time: 8:00 AM - 2:30 PM
Location: Holiday Inn
242 Adams Place
Boxborough, Massachusetts 01719
Speaker: Leo J. Cushing, Esq., CPA, LLM

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Description:

The home and vacation home are typically a family’s most valuable assets. Unfortunately, they are also the most vulnerable in the event long term care becomes necessary. Last minute planning is problematic; early planning is essential. This seminar will teach you (and your customers) how to protect the property while ensuring the right to remain in the home until death. A properly drafted Medicaid Trust will protect the family from the cost of long term care, eliminate estate taxes and capital gains taxes, and preserve the right to remain in the home.

TUESDAY
May 13, 2014

Massachusetts Continuing Legal Education

Latest Techniques for Middle Class Estates
Date: TUESDAY, May 13, 2014
Time: 9:00 a.m. – 12:00 p.m.
Location: MCLE Conference Center, Ten Winter Place, Boston
Speakers: Leo J. Cushing, Esq., CPA, LLM; Todd E. Lutsky, Esq., LLM

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Description:

Where affordability and flexibility intersect

It has become increasingly clear that estate planning and Medicaid planning for middle class estates no longer can be considered separate practice areas. Every middle estate class estate plan must address traditional estate tax planning as well as effective Medicaid planning. In Massachusetts, the middle class estate must also address the new federal estate and gift tax exemptions of $5,340,000 per person, while at the same time deciding whether to rely on portability and effective use of DSUE. It must also address the so-called exception differential of $4,340,000 and Massachusetts does not have a gift tax. Moreover, since one out of two Massachusetts residents likely will spend at least a year in a nursing home after age 65, in 2014 effective estate tax planning must be combined with effective Medicaid planning even if the only recommendation is long term care insurance.

You will learn

  • How to blend effective estate tax planning with Medicaid planning
  • The benefits and pitfalls of portability
  • Why the Massachusetts estate tax exemption is really $5,340,000 with a giving program
  • Should your trusts be revocable or irrevocable?
  • How to use a QTIP trust to deal with the Massachusetts exemption differential
  • Whether you can over QTIP for federal estate tax purposes, claim DSUE, and have a surviving spouse make gifts saving over $400,000 in Massachusetts estate taxes
  • Why a joint trust instead of 2 separate trusts is more effective and cost efficient
  • How to obtain a step-up in basis even if the trust is irrevocable
  • How to effectively utilize Powers of Appointment
  • How to handle retirement assets
  • How to deal with the new Massachusetts Uniform Probate Code, Uniform Trust Code, and Uniform Principal and Income Act
  • How to protect yourself from legal malpractice claims

TUESDAY
May 20, 2014

Massachusetts Continuing Legal Education

Latest Techniques for Middle Class Estates
Date: TUESDAY, May 20, 2014
Time: 9:00 a.m. – 12:00 p.m.
Location: Taunton Holiday Inn
Speakers: Leo J. Cushing, Esq., CPA, LLM; Todd E. Lutsky, Esq., LLM

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Description:

Where affordability and flexibility intersect

It has become increasingly clear that estate planning and Medicaid planning for middle class estates no longer can be considered separate practice areas. Every middle estate class estate plan must address traditional estate tax planning as well as effective Medicaid planning. In Massachusetts, the middle class estate must also address the new federal estate and gift tax exemptions of $5,340,000 per person, while at the same time deciding whether to rely on portability and effective use of DSUE. It must also address the so-called exception differential of $4,340,000 and Massachusetts does not have a gift tax. Moreover, since one out of two Massachusetts residents likely will spend at least a year in a nursing home after age 65, in 2014 effective estate tax planning must be combined with effective Medicaid planning even if the only recommendation is long term care insurance.

You will learn

  • How to blend effective estate tax planning with Medicaid planning
  • The benefits and pitfalls of portability
  • Why the Massachusetts estate tax exemption is really $5,340,000 with a giving program
  • Should your trusts be revocable or irrevocable?
  • How to use a QTIP trust to deal with the Massachusetts exemption differential
  • Whether you can over QTIP for federal estate tax purposes, claim DSUE, and have a surviving spouse make gifts saving over $400,000 in Massachusetts estate taxes
  • Why a joint trust instead of 2 separate trusts is more effective and cost efficient
  • How to obtain a step-up in basis even if the trust is irrevocable
  • How to effectively utilize Powers of Appointment
  • How to handle retirement assets
  • How to deal with the new Massachusetts Uniform Probate Code, Uniform Trust Code, and Uniform Principal and Income Act
  • How to protect yourself from legal malpractice claims

THURSDAY
May 29, 2014

Massachusetts Continuing Legal Education

Medicaid & Health Care Planning Update 2014
Date: THURSDAY, May 29, 2014
Time: 9:00 a.m. – 12:00 p.m.
Location: MCLE Conference Center, Ten Winter Place, Boston
Speakers: Leo J. Cushing, Esq., CPA, LLM; Todd E. Lutsky, Esq., LLM

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Description:

What the regulations don’t tell you, but you need to know

Every year Medicaid planning and the ability to obtain MassHealth benefits become more difficult. The statutes and regulations seem clear but case workers continue to identify flaws in Medicaid plans and they are looking for ways to deny benefits. Come to this survival seminar to learn what you need to know.

You will learn

  • How to draft an effective Irrevocable Medicaid Trust for a single person and for a married couple
  • How and when to draft a Testamentary Trust
  • The lookback and penalty period
  • When to use commercial annuities, private annuities, and/or promissory notes
  • Whether personal care contracts are permissible
  • The new standards to meet the caretaker child exception and disabled child exception
  • Whether your Medicaid Trust should permit the donor to use and occupy the family home
  • How to protect yourself from legal malpractice claims
  • How to show certain income-producing assets are noncountable
  • When to use a life estate
  • How to preserve residential and/or elderly property tax exemptions
  • How to draft around the Uniform Trust Code

THURSDAY
June 5, 2014

Foundation for Continuing Education

Estate Planning Essentials "Case Study Fed 706 & Mass. 706"
Date: THURSDAY, June 5, 2014
Time: 9:00AM-1:00PM
Location: Natick: Marriott Courtyard
Speaker: Todd E. Lutsky, Esq., LLM

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Description:

Join Todd in this exciting walk through of a Federal & Mass. estate.

  • Filing Release of Liens, General Information & Elections;
  • Real Estate - Schedule A;
  • Stocks & Bonds - Schedule B;
  • Mortgages, Notes & Cash - Schedule C;
  • Life Insurance - Schedule D;
  • Joint Property - Schedule E;
  • Other Miscellaneous Property - Schedule F;
  • Lifetime Transfers - Schedule G;
  • Powers of Appointment - Schedule H;
  • Pensions & Annuities - Schedule I;
  • Deductions: Admin. Expenses, Debts & Lossses - Schedules J, K, L;
  • Bequests to Surviving Spouse - Schedule M;
  • Charitable Deductions - Schedule O;
  • Generation Skipping Transfers - Schedule R;
  • Credits for Taxes on Prior Transfers, etc. - Schedule P & G;
  • Hypothetical Problem & Federal & State Computations in Detail.
  • Questions and Answers.

TUESDAY
June 10, 2014

Massachusetts Association of Accountants

Post Mortem Planning and Preparation of Fiduciary Income Tax Returns for Decedents, Estates & Trusts
Date: TUESDAY, June 10, 2014
Time: 9:00am - 5:00pm
Location: Courtyard Marriott, Marlboro, MA

Speaker: Leo J. Cushing, Esq., CPA, LLM; Todd E. Lutsky, Esq., LLM

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Description:

If your practice involves the administration of estates, then this practical "clinic" will be time well spent. Get your questions answered regarding the income taxation of decedents estate and trusts; learn how to protect your client from tax liability; learn how to distinguish trust accounting income from taxable income; get practice computing taxable income and distributable income; be briefed on how to fund a bequest - and much more. The session features a hands-on drafting challenge - a sample federal fiduciary income tax return for a complex trust, which you complete with expert guidance. Before the day is over, you will have a unique opportunity to "ask the experts" your questions. Don’t miss it!

You will learn...

  • How the new Uniform Probate Code (effective March 31, 2012) and the newer Uniform Trust Code (effective July 8, 2012) affects the preparation of fiduciary income tax returns.
  • How the new Obama Care 3.8 % tax on passive income applies to estates and trusts.
  • Allocation of items of income, expense, deduction, and credit between the decedent’s final return and the decedent’s income, estate, and/or trust tax returns.
  • Demystifying the concept of DNI.
  • Understanding simple trusts together with examples
  • Understanding complex trusts together with examples
  • Final year distributions
  • Election to recognize gain
  • Reviewing fractional and pecuniary trusts and understanding the income tax consequences of funding marital and by-pass shares.
  • S corporations and trusts. Don’t blow the S election inadvertently.
  • Grantor trusts.
  • Electing small business trusts
  • Qualified QSSTs
  • Grantor Trusts Planning; Everything you need to know about Grantor Trusts.
  • How to make a trust a grantor trust and recognize a grantor trust
  • The income tax and federal employer identification number requirements
  • Understanding transfers and transactions between a grantor and grantor trust (Qualified personal residence trusts, Grantor retained annuity trusts, Sales to intentionally defective trusts, Home security trusts, Promissory notes, and Private life annuities)

THURSDAY
June 12, 2014

Avidia Bank

CPA Appreciation Day
Date: THURSDAY, June 12, 2014
Time: 9:00 AM – 11:00 AM
Location: Worcester Country Club
Speaker: Leo J. Cushing, Esq., CPA, LLM

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Description:

Recent developments in estate planning, 2013 & 2014 in review

THURSDAY
June 19, 2014

Massachusetts Association of Accountants

706 Workshop Including Massachusetts
Date: THURSDAY, June 19, 2014
Time: 9:00am - 5:00pm
Location: Hilton Garden Inn, Waltham, MA
Speaker: Todd E. Lutsky, Esq., LLM; Luke C. Bean, Esq., LL.M.

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Description:

The estate tax laws have changed again so come and learn how to prepare estate and gift tax returns in this new environment. We will begin by briefing you on a spectrum of topics from 2014 and beyond, such as the changes to the applicable exclusion amount for deaths occurring in 2013, 2014 and beyond; a closer look at the importance of a step up in basis in light of the new net investment income tax and how it works; the portability of the estate tax exemption; the adjustment of the generation-skipping tax (GST) to inflation; and the scheduled maximum tax rate for gifts, estates and GST for 2013 and 2014. Using a hypothetical example we will then walk you through schedule by schedule the preparation of a federal and Massachusetts estate tax return along with a brief explanation of the different estate planning documents you may encounter when preparing these returns with special attention paid to a joint trust and the application of § 1014 e to the trust and the possible double step up in basis. This course will also include the preparation of a gift tax return in connection with the use of a qualified personal residence trust. So sharpen your pencil and come to this hypothetical-packed session ready to "do the math."

THURSDAY
June 19, 2014

Foundation for Continuing Education

Income Taxation of Trusts & Estates "Including Preparing of Fiduciary Return Issues"
Date: THURSDAY, June 19, 2014
Time: 9:00AM-1:00PM
Location: Natick: Marriott Courtyard
Speaker: Leo J. Cushing, Esq., CPA, LLM

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Description:

Introduction with Estate Administration Procedural Checklist.

  • The Probate Process and Important Dates & Rules.
  • Allocation of Income and Expenses Between the Decedents Final Return (1040), the Decedents Estate (706) and (1041) Fiduciary Income Tax Return.
  • Qualified Subchapter S Trust.
  • Funding the Marital and By-pass Shares After Death and Maintaining these Trusts Until the Death of the Survivor.
  • Grantor Trusts.
  • Massachusetts Income Tax Considerations.
  • Income Taxation of IRA Benefits Payable to a QTIP Trust.
  • Flowchart of Estate Plan.
  • 1041 Tax Return Examples & Computation of DNI.
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Serving Businesses and Individuals Throughout Massachusetts

Boston Office
Cushing & Dolan, P.C.

10 Tremont Street
Third Floor, Suite 9

Boston, MA 02108
Phone: 617-523-1555
Fax: 617-523-5653
Toll Free: 888-759-5109
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Waltham Office
Cushing & Dolan, P.C.

375 Totten Pond Road
Suite 200

Waltham, MA 02451

Phone: 617-523-1555
Fax: 617-523-5653
Toll Free: 888-759-5109
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Westborough Office
Cushing & Dolan, P.C.

276 Turnpike Road
Route 9, Suite 228

Westborough, MA 01581

Phone: 617-523-1555
Fax: 617-523-5653
Toll Free: 888-759-5109
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Norwood Office
Cushing & Dolan, P.C.

520 Providence Highway Route 1
Route1, Suite 10

Norwood, MA 02062

Phone: 781-278-9901
Fax: 781-278-9911
Toll Free: 888-759-5109
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Chestnut Hill Office
Cushing & Dolan, P.C.

1330 Boylston Street
Suite 100

Chestnut Hill, MA 02467

Phone: 617-523-1555
Fax: 617-523-5653
Toll Free: 888-759-5109
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Woburn Office
Cushing & Dolan, P.C.

444 Washington Street
Suite 203

Woburn, MA 01801

Phone: 617-523-1555
Fax: 617-523-5653
Toll Free: 888-759-5109
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Braintree Office
Cushing & Dolan, P.C.

50 Braintree Hill Park
Suite 308
Braintree, MA 02184-8724

Phone: 617-523-1555
Fax: 617-523-5653
Toll Free: 888-759-5109
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