Seminars & Lectures

Massachusetts Continuing Legal Education

Irrevocable or Revocable Trust?

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DESCRIPTION:

The 60-Minute Lawyer

Revocable (living or inter vivos) trusts are, quite plainly, a type of trust that can be modified at any time. In the alternative, irrevocable trusts cannot be changed after it has been created absent certain situations. Choosing the trust that is right for your client-and explaining the pros and cons of each-can be challenging for an estate planning lawyer. Proper consideration of the many reasons for selecting the proper trust include asset protection, planning for mental incapacity, avoiding probate, charitable giving, estate tax implications, and protecting privacy.

This seminar focuses on the differences between revocable and Medicaid irrevocable income only trusts. Learn how to draft them as well as explore the estate, gift and income tax, and step up in basis issues that relate to both trusts. We explore the use of limited powers of appointment that allow irrevocable trusts to be changed. You find out the two trusts are more similar than they are different and leave this 60-minute program more proficient and capable in determining the ideal trust to match the multitude of needs of your clients.

Date: FRIDAY, October 12, 2018
Time: 9:30 AM - 10:30 PM
Location: MCLE Conference Center, 10 Winter Place, via Winter Street, Boston, MA
Speaker: Todd E. Lutsky, Esq., LLM, Cushing & Dolan, P.C.

Agenda:

  • Understanding the Differences
  • Drafting a Revocable Trust
  • Drafting an Irrevocable Trust
  • Modifying an Irrevocable Trust via Limited Powers of Appointment
  • Income - Gift and Estate Tax Issues
  • Additional Considerations

Materials:

In addition to faculty-prepared submissions that supplement the agenda, the materials for this program include MCLE's Understanding and Using Trusts, a practical reference prepared by experts in the field that provides comprehensive coverage of the topic as well as helpful exhibits, checklists and forms. With MCLE's supplementation service, new supplements are mailed automatically with an invoice. If you do not wish to subscribe, please note on order form.

Also, there is no need to take extensive notes. Two weeks after the live seminar, all registrants will receive a link to a written verbatim transcript of this program.

Earn up to 1 CLE credit


The Foundation for Continuing Education

Medicaid Planning Update - 2018

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DESCRIPTION:

Every year Medicaid planning and the ability to obtain MassHealth benefits become more difficult. The Status 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, and what type of planning techniques MassHealth is challenging and what arguments they are making, along with viable planning techniques and much more.

  • How to draft an effective Irrevocable Medicaid Trust for a single person and for a married couple. What paragraphs to include and what to omit.
  • How and when to draft a Testamentary trust.
  • The difference between a look back period and a penalty period and permitted transfers.
  • When to use commercial annuities, private annuities, and/or promissory notes, and how they work.
  • Whether personal care contracts are permissible and how to draft them effectively.
  • 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 non-countable.
  • The 2 ways to create life estates, when to use them along with an income, gift and estate tax analysis associated with life estates.
  • How to preserve residential and/or elderly property tax exemptions.
  • Review of cases from around the country - how states are challenging Medicaid planning techniques from annuities to irrevocable trusts from personal care contracts to special needs trusts.
  • A walk through of the anatomy of a Medicaid fair hearing.
  • A review of fair hearings and a look at how MassHealth is challenging Medicaid planning techniques.
  • An operational guide to IIOTs along with a gift income and estate tax analysis of these trusts.
  • What are countable and non-countable assets.

Date: FRIDAY, October 19, 2018
Time: 9:00 AM - 1:00 PM
Location: Sheraton Four Points, One Audubon Road, Wakefield, MA 01880
Speaker: Todd E. Lutsky, Esq., LLM, Cushing & Dolan, P.C.

Agenda and written materials:

  • Copies and Analysis of Recent Cases
  • Planning Opportunities
  • Sample Trust Documents - Both Single and Married
  • "Ask the Experts" Q&A Session
  • Sample Personal Care Contract

CEU .4


The Foundation for Continuing Legal Education

Estate Planning Essentials: Fed and Mass Issues (706 & M706)

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DESCRIPTION:

The Tax Cuts and Jobs Act has introduced a variety of new planning opportunities. Massachusetts however continues to limit its exemption to 1 million dollars. In this program we will guide you through the proper preparation of federal and state estate tax returns as well as any necessary gift tax returns. Using a hypothetical example we will guide you through schedule by schedule the preparation of a federal and Massachusetts estate tax return along with an explanation of the different estate planning techniques you may encounter when preparing these returns; such as revocable trusts, irrevocable life insurance trusts, first and second to die variety, Medicaid income only trusts, limited liability companies and much more 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. So sharpen your pencil and come to this hypothetical-packed session ready to "do the math".

  • 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 & Losses - 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.

Date: FRIDAY, November 2, 2018
Time: 9:00 AM - 1:00 PM
Location: Hampton Inn Natick, 319 Speen Street, Natick MA 01760
Speaker: Todd E. Lutsky, Esq., LLM, Cushing & Dolan, P.C.

CEU .4


National Business Institute

Using Trusts in Medicaid and Disability Planning

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DESCRIPTION:

Successfully Handle Your Client's Trust Needs

The wide array of trusts available, combined with the numerous issues clients can bring to the table, can make choosing and using the right tool a daunting task - but it doesn't have to be. This insightful, two-day seminar will guide you through how to effectively use trusts for estate planning and asset protection. Explore a variety of planning tools that will help you tailor a trust that fits your client's specific situation. Don't miss this opportunity to make sure your trusts are thoroughly on point - register today!

  • Find out how to select the best trust option for each unique situation.
  • Protect retirement accounts with the use of IRA trusts.
  • Use trusts to help clients qualify for Medicaid while protecting their assets.
  • Discover ways to structure special needs trusts so beneficiaries still qualify for public benefits.
  • Learn how to minimize your client's tax burdens with the use of defective trusts.
  • Properly handle the administration of a trust.
  • Clarify who your client is to avoid conflicts of interest and other ethical violations.

Date: WEDNESDAY, November 28, 2018 and THURSDAY, November 29, 2018
Time: 9:00 AM - 4:30 PM
Location: Embassy Suites by Hilton Boston at Logan Airport
207 Porter Street, Boston, MA 02128

  • Speakers:
    • Todd E. Lutsky, Esq., LLM, Cushing & Dolan, P.C.
    • Annika Bockius-Suwyn, Esq., DangerLaw, LLC
    • Deborah Danger, Esq., DangerLaw, LLC
    • Jason G. Happel, Esq., Sullivan & Clark, Attorneys at Law
    • Nancy Kelleigh, Esq., Kelleigh Law Office
    • Julie Low, Esq., Law Office of Julie Low, PLLC
    • Anna M. Corti, Esq., Kerstein Coren & Lichtenstein, LLP
    • Faith E. Delaney, Esq., Faith E. Delaney, Attorney at Law
    • Lauren E. Jones, Esq., Holland & Knight LLP
    • Eileen Y. Lee Breger, Esq., Bowditch & Dewey
    • Stephen K. Withers, Jr., Esq., Coogan Smith, LLP

Continuing Education Credit

International Association for Continuing Education Training - IACET: 1.20

National Association of State Boards of Accountancy - CPE for Accountants/NASBA: 14.00 *

Professional Achievement in Continuing Education - PACE: 14.00

Using Trusts in Medicaid and Disability Planning
Agenda

Day 1

I. Trust Overview
9:00 - 10:00, Julie Low

  1. Key Terms and Legal Concepts
  2. Laws of Trust Drafting and Administration
  3. Current State and Federal Tax Update

II. Determining Which Trust to Use
10:00 - 11:00, Eileen Y. Lee Breger

  1. Establishing/Limiting Grantor Control in Revocable vs. Irrevocable Trusts
  2. Choosing Between Living and Testamentary Trusts
  3. Predicting Tax Effects of Trusts
  4. Planning for Distinctive Funding and Administration Issues

III. Grantor Trusts: When and How to Use Them
11:15 - 12:15, Nancy Kelleigh

  1. Choosing the Type of Grantor Trust That Best Fits Your Client's Case
  2. Securing Grantor Trust Status and Turning it on and off
  3. Intentionally Defective Grantor Trusts (IDGTs): How to Avoid Unforeseen Tax Consequences
  4. Crafting Well-Planned Terms - Sample Trust Provisions

IV. IRA Trusts: Protecting Retirement Accounts
1:15 - 2:15, Julie Low

  1. IRA Trusts: Key Concepts, Design and Benefits
  2. Setting up the Trustee - Key Roles and Duties
  3. Establishing Necessary Subtrusts
  4. Permitted Tax Exemptions
  5. Required Minimum Distribution Issues and Workarounds
  6. Addressing Administration Challenges
  7. Sample Provisions

V. Using Trusts to Qualify for Medicaid
2:15 - 3:15, Todd E. Lutsky

  1. Identifying Exempt and Non-Exempt Assets
  2. Complying with Medicaid Eligibility and Look-back Periods
  3. How Asset Transfer Tactics Work
  4. How Other Trusts can Affect Benefits and Eligibility
  5. Taxes and Medicaid Trusts

VI. Charitable Trusts: Setting Aside Assets and Tax Planning
3:30 - 4:30, Deborah Danger

Day 2

VII. Special Needs Trusts: Planning for Disabled Beneficiaries
9:00 - 10:00, Faith E. Delaney

  1. SNTs vs. ABLE Act Accounts
  2. Using the Right SNT for Your Client's Situation
  3. How to Minimize Tax Implications
  4. Preserving Benefits
  5. Maximizing Allowable Expenses
  6. How to Structure Key Provisions (w/Examples)

VIII. Asset Protection Focus: Analysis and Tools
10:00 - 10:45, Jason G. Happel

  1. Risk Analysis and Planning Tools
  2. Protection Planning for Families
  3. Protection Planning for Businesses and Professionals

IX. Using Irrevocable Life Insurance Trusts (ILITs)
11:00 - 11:45, Stephen K. Withers Jr.

X. Tax Planning with Trusts
12:45 - 1:45, Lauren E. Jones

  1. Update on Tax Changes
  2. Identifying Accounting vs. Taxable Income
  3. Assessing Tax Consequences of Distributions
  4. Minimizing Tax Penalties for Trusts in Estate Administration

XI. Administering Trusts
1:45 - 2:30, Anna M. Corti

  1. Funding and Executing the Trust: Identifying and Documenting Property
  2. Using the Power to Direct and Delegate
  3. Investing Trust Assets
  4. Trustees and Beneficiaries: Disclosures, Notices, Consents, Conflicts
  5. Handling Annual Tax Reporting and Complying with Tax Laws
  6. Allocating Principal and Income
  7. Ensuring the Trustee Does His/Her Job
  8. Managing Distributions
  9. Authorization and Disbursement of Fees and Expenses

XII. Making Changes to Trusts
2:45 - 3:30, Stephen K. Withers Jr.

  1. Gaining Consent of the Beneficiaries
  2. Obtaining Court Approval
  3. Decanting: Transferring Assets to Another Trust

XIII. Remaining Ethically Compliant
3:30 - 4:30, Deborah Danger and Annika Bockius-Suwyn

  1. Clarifying Who the Client is
  2. Avoiding Malpractice Risks
  3. Fiduciary Liability Considerations
  4. Preventing Fraudulent Transfers From Occurring
  5. Identifying and Addressing Testator Capacity Concerns

Learning Objectives

Upon completion of this course, attendee will be able to:

  • List two key terms used in a trust.
  • Distinguish between revocable and irrevocable trusts.
  • State two types of grantor trusts.
  • List two benefits of setting up an IRA trust.
  • Name two requirements to qualify for Medicaid.
  • Restate from recall how a trust can be used to set aside assets for a charity.
  • Compare SNTs to ABLE accounts.
  • Explain when a DAPT should be used.
  • Explain what an ILIT is.
  • List two ways to minimize tax penalties for trusts.
  • State two ways the trust can be funded.
  • Explain when and how to transfer assets from one trust to another.
  • Distinguish between ethical and unethical practices.

Massachusetts Continuing Legal Education

Drafting Successful Medicaid Trusts

Expert advice on withstanding MassHealth scrutiny

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DESCRIPTION:

Creating an effective Medicaid trust requires not only a deep understanding of trust law, but also an understanding of the related areas of estate and tax planning. You need to know how to draft trust terms that will get approved—not always an easy task when it seems unclear what the state will—and will not—allow. Using the right language and key terms is vital—and more challenging than ever.

This program provides highly-practical, expert advice on how to draft trust provisions that withstand MassHealth scrutiny. Sophisticated practitioners delve into all aspects of Medicaid trusts, and closely analyze what the state challenges and approves. They cite specific cases as examples, so you learn what triggers red flags and how to handle inconsistencies. The faculty also explore the use of life estates and the related gift, estate, and income tax consequences associated with them. In addition, they teach you how to draft around arguments—if needed—when creating irrevocable trusts. You come away with an in-depth understanding of how Medicaid trusts work—and clear drafting guidelines you can use right away in your practice.

Date: THURSDAY, December 6, 2018
Time: 9:30 AM – 1:30 PM
Location: MCLE Conference Center,10 Winter Place, via Winter Street, Boston, MA

  • Faculty:
    • Todd E. Lutsky, Esq., Cushing & Dolan, PC, Waltham, MA, Chair
    • Brian E. Barreira, Esq., Law Offices of Brian E. Barreira, Plymouth, MA
    • Robert P. Ford, Esq., Law Office of Robert P. Ford, North Andover, MA
    • Lisa M. Neeley, Esq., Mirick, O’Connell, DeMallie & Lougee LLP, Worcester, MA

Agenda:

  • Using Trusts for Medicaid Planning/Asset Protection
  • How to Make a Medicaid Trust into a Grantor Trust
  • Life Estates and How to Use Them with Medicaid Trusts in Light of the Daley Case
  • Medicaid Trusts: Income, Estate, and Gift Tax Planning
  • Drafting Bypass Trusts and Marital Shares in Medicaid Trusts to Accomplish Estate Tax Savings at the Challenges, Denials, and Appeals
  • Fair Hearings
  • "Ask the Experts" Q&A Session

Materials:

The materials for this program include a faculty-prepared program book.

Also, there is no need to take extensive notes. Two weeks after the live seminar, all registrants will receive a link to a written verbatim transcript of this program.

CLE Credits: 4 Substantive Credits, 0 Ethics Credits


The Foundation for Continuing Legal Education

Medicaid Planning Update - 2018

Register Now

DESCRIPTION:

Every year Medicaid planning and the ability to obtain MassHealth benefits become more difficult. The Status 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, and what type of planning techniques MassHealth is challenging and what arguments they are making, along with viable planning techniques and much more.

  • How to draft an effective Irrevocable Medicaid Trust for a single person and for a married couple. What paragraphs to include and what to omit.
  • How and when to draft a Testamentary trust.
  • The difference between a look back period and a penalty period and permitted transfers.
  • When to use commercial annuities, private annuities, and/or promissory notes, and how they work.
  • Whether personal care contracts are permissible and how to draft them effectively.
  • 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 non-countable.
  • The 2 ways to create life estates, when to use them along with an income, gift and estate tax analysis associated with life estates.
  • How to preserve residential and/or elderly property tax exemptions.
  • Review of cases from around the country - how states are challenging Medicaid planning techniques from annuities to irrevocable trusts from personal care contracts to special needs trusts.
  • A walk through of the anatomy of a Medicaid fair hearing.
  • A review of fair hearings and a look at how MassHealth is challenging Medicaid planning techniques.
  • An operational guide to IIOTs along with a gift income and estate tax analysis of these trusts.
  • What are countable and non-countable assets.

Date: FRIDAY, December 7, 2018
Time: 9:00 AM - 1:00 PM
Location: Hampton Inn Natick, 319 Speen Street, Natick MA 01760
Speaker: Todd E. Lutsky, Esq., LLM, Cushing & Dolan, P.C.

Agenda and written materials:

  • Copies and Analysis of Recent Cases
  • Planning Opportunities
  • Sample Trust Documents
  • "Ask the Experts" Q&A Session
  • Sample Personal Care Contract

CEU .4