Learn More At Our Seminars And Lectures

The Foundation for Continuing Education – 03/26/24

Medicaid Planning Update – 2024

What’s New with Medicaid and What Needs to be Reviewed

 To Register, contact Rick Solano at 978-468-6528 or click the link below.

 Register Now

From last minute Medicaid eligibility tips for the unplanned to drafting and taxation of irrevocable income only trusts and testamentary trusts for the advanced planner.

Description:

Last Minute Medicaid Techniques: Come Learn How:

  • To protect the primary residence for married and single folks;
  • To make countable rental property non-countable;
  • To make countable vacation property non-countable;
  • To protect life insurance policies (whole life vs term life);
  • To protect excess resources through Medicaid annuities and pooled trusts with a full discussion of the recently decided SJC decision in the Dermody case regarding annuities;
  • To differentiate countable vs non-countable assets;
  • To deal with the caretaker child exception, related rules, and recent fair hearing decisions regarding the same;
  • Medicaid liens operate and how they can actually be a good thing;
  • The five year lookback period operates and related exceptions to it vs the penalty period;
  • Special needs trusts and sole benefit trusts operate
  • To get a family worth $2 million eligible for Medicaid last minute when one spouse gets sick.

Drafting and Taxation of Irrevocable Income Only Trusts: Come Learn

  • How to draft irrevocable trusts to withstand MassHealth scrutiny;
  • Frequent arguments made by MassHealth;
  • How the Hirvi settlement is helping to support irrevocable trusts, administrative consistency, and due process;
  • How eligibility operations memo 20-04 is helping practitioners to better draft trusts and how it operates;
  • How the Fournier v. Sudders case reads and its benefit to drafting these irrevocable trusts
  • About other recent fair hearing decisions;
  • How the limited power of appointment operates;
  • The grantor trust rules for income tax purposes;
  • How 26 U.S.C §1014(a) and step up in basis works with these trusts;
  • Gift tax consequences of these trusts  26 CFR § 25.2511(c)
  • Estate tax consequences of these trusts including drafting of the marital and remainder shares to both protect assets and shelter for estate taxes;
  • About eligibility operations memo 19-12 re-defining calculation of life estate and remainder values and the Medicaid and income tax consequences (planning pointer and operation memo is currently being drafted to fix this problem and we’ll discuss it);

Testamentary Trusts, IRAs, and Life Insurance:

  • How trust and transfer rules apply to testamentary trusts, how to draft them, and how they operate;
  • Estate tax benefits of naming estate as the designated beneficiary of an IRA coupled with a testamentary trust;
  • Income tax benefits of naming estate as the designated beneficiary of an IRA vs naming the surviving spouse
  • To calculate the RMDs after naming the estate as the designated beneficiary under the Secure Act vs surviving spouse;
  • The Medicaid benefits and protections from naming the estate as the designated beneficiary of the IRA
  • The estate tax and Medicaid benefits of naming the estate as the designated beneficiary of a life insurance policy.

Live Conference

Date:  TUESDAY, March 26, 2024

Time:  9:00 AM – 1:00 PM

Location:  Marriott Residence Inn in Natick

Address:  1 Superior Drive Natick, MA

Speaker

Todd E. Lutsky, Esq., LL.M., Cushing & Dolan, P.C., Waltham

Thomas J. McKinnon, Esq., Cushing & Dolan, P.C., Waltham

CPE Credits:  4

MCLE – 04/02/24

Preventing & Handling Domicile Audits

Register Now

DESCRIPTION:

  • Changing One’s Domicile: The Basics
  • Jon E. Steffensen, Esq.
  • How In State & Out of State Property Impacts Your Being a Non Resident and the Impact of the New Massachusetts Estate Planning Tax Law on Out of State Property
  • Todd E. Lutsky, Esq.
  • What Happens When You Are Audited – How to Plan Proactively and Defend an Audit
  • Shari A. Levitan, Esq.
  • Health Issues That Can Impact Changing Domicile
  • Shari A. Levitan, Esq.

 Zoom Live Video Conference

Date:  TUESDAY, April 2, 2024

Time:  9:00 AM – 11:00 AM

Speakers

Jon E. Steffensen, Esq., McLane Middleton, Boston

Todd E. Lutsky, Esq., LL.M, Cushing & Dolan, PC, Waltham

Shari A. Levitan, Esq., Holland & Knight, LLP, Boston

CPE Credits:  2

 

 

Boston Tax Institute – 05/21/24

What’s New or Needs Review in Medicaid Planning?

Register Now

DESCRIPTION:

From last minute Medicaid eligibility tips for the unplanned to drafting and taxation of irrevocable income only trusts and testamentary trusts for the advanced planner.  A little something for everyone!

Last Minute Medicaid Techniques: Come Learn How a couple worth $2.4M with no planning can become eligible for Medicaid when one spouse becomes ill by understanding how: 

. To protect the primary residence for married and single folks; and related fair hearings        regarding valuations of house;

. To make countable rental and vacation property non-countable; and related lien rules with examples and  positive results;

. To protect life insurance policies (whole life vs term life);

. The SJC decision in Dermody impacts protecting assets through Medicaid annuities;

. To differentiate countable vs non-countable assets: from bank accounts to brokerage accounts;

. To deal with the caretaker child exception, related rules, and recent fair hearing decisions regarding the same;

. The five-year lookback period operates and related exceptions to it vs the penalty period;

.  Pooled trusts work if still available and special needs and sole benefit trusts;

Drafting and Taxation of Irrevocable Income Only Trusts: 

. How to draft irrevocable trusts to withstand MassHealth scrutiny;

. Frequent arguments made by MassHealth;

. How the Hirvi settlement is helping to support irrevocable trusts, administrative consistency, and due process;

. How eligibility operations memo 20-04 is helping practitioners to better draft trusts and how it operates;

. How the SJC decision in Fournier v. Sudders case reads and its benefit to drafting these irrevocable trusts

. About other recent fair hearing decisions;

. How the limited power of appointment operates;

. The grantor trust rules for income tax purposes;

. How 26 U.S.C §1014(a) and step up in basis works with these trusts;

. Gift tax consequences of these trusts 26 CFR § 25.2511(c)

. Estate tax consequences of these trusts including drafting of the marital and remainder shares to both protect assets and shelter for estate taxes;

. A return to the IRS tables for life estate and remainder value calculations with related examples.

Testamentary Trusts, IRAs, and Life Insurance:

. How trust and transfer rules do not apply to testamentary trusts, how to draft them, and how they operate;

. Estate tax benefits of naming estate as the designated beneficiary of an IRA coupled with a testamentary trust following the SECURE 2.0 Act;

. Income tax benefits of naming estate as the designated beneficiary of an IRA vs naming the surviving spouse;

. To calculate the RMDs after naming the estate as the designated beneficiary under the Secure Act vs surviving spouse;

. The Medicaid benefits and protections from naming the estate as the designated beneficiary of the IRA

. The estate tax and Medicaid benefits of naming the estate as the designated beneficiary of a life insurance policy.

 This course is approved for up to 100% reimbursement by the Mass Workforce Training Program

Zoom Live Video Conference: May 21, 2024

Date:  TUESDAY, May 21st, 2024

Time:  9:00 AM – 12:30 PM

Speakers

Todd E. Lutsky, Esq., LL.M., Cushing & Dolan, P.C., Waltham

Thomas J. McKinnon, Esq., Cushing & Dolan, P.C., Waltham

CPE Credits:  4

The Foundation for Continuing Education – June 4, 2024

Estate Planning Essentials:  Federal & MA Issues (706, 709, & M-706 Workshop)

 To Register, contact Rick Solano at 978-468-6528 or click the link below.

 Register Now

 DESCRIPTION:

It appears that the Biden Administration attempt to pass the 99.5% Act has failed. While there still may be future attempts, it appears the exemption would not fall back more than the current legislation’s 2026 level. We will explore the latest legislation known as the Tax Cuts and Jobs Act of 2018 which introduced a variety of new planning opportunities – it is all about the basis. Massachusetts, however, continues to limit its exemption to $1,000,000, although there has been some legislation reintroduced to Beacon Hill to increase this exemption to $2,000,000 – stay tuned. 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, including a discussion of the pros and cons of the portability election and how it works, the QTIP election for the state, and even the potential benefits of a federal QTIP election, coupled with gifting assets flush with basis by the surviving spouse to reduce the future Massachusetts estate tax.  Finally, we will explore the recent Supreme Judicial Court decision in the Schaffer case showing how not making a federal QTIP election, even without gifting by the surviving spouse, could lower the estate tax of the surviving spouse.

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 as well as whether they are included in the estate or not, 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 through a combination of the federal QTIP election and portability.  So, sharpen your pencil and come to this hypothetical-packed session ready to “do the math.”

Live Conference

Date:  TUESDAY, June 4th, 2024

Time:  9:00 AM – 1:00 PM

Location:  Marriott Courtyard Natick

Address:  342 Speen Street Natick, MA

Speaker

Todd E. Lutsky, Esq., LL.M., Cushing & Dolan, P.C., Waltham

CPE Credits:  4

National Business Institute – 06/05/24

Medicaid Lookback Rules and Planning

Register Now

  1. The Lookback Period and Qualifying Asset Transfers Rules

9:00 – 10:15, Lauren DeMatteo

    1. The Lookback Rule
    2. Gifts
    3. Intrafamily Loans
    4. Marital Deductions and Exceptions
    5. Reverse Half-Load with Medicaid-Compliant Annuity – Is it still a valid Approach?
    6. Transferring Real Property
  1. Asset Conversion From Non-Exempt to Exempt

10:30 – 11:45,

    1. Loan Repayment
    2. Exempt Asset Purchases
    3. Other Asset Converstion Techniques
  1. Irrevocable Trusts in Medicaid Planning

11:45- 1:00, Todd E. Lutsky

  1. Legal Ethics

2:00 – 3:00

    1. Attorney Fees and Engagement Agreements
    2. Effective and Ethical Client Communication
    3. Protecting Client Confidentiality
    4. Conflicts of Interest When Representing Couples
  1. Penalty Period for Improper Transfers

3:15 – 4:30, Thomas McKinnon

    1. Calculating the Penalty Period
    2. Preventing the Penalty Period
    3. Handling Unexpected Income to Protect Eligibility
    4. Partial Months of Ineligibility
    5. Monthly Maintenance Need Allowance (MMMNA) for Community Spouse

Zoom Live Video Conference

Date:  WEDNESDAY, June 5, 2024

Time:  9:00 AM – 4:30 PM

 

Speakers: Todd E. Lutsky, Esq., LLM, Cushing & Dolan, P.C.

Thomas J. McKinnon, Esq., Cushing & Dolan, P.C.

Lauren DeMatteo, Esq.

 

Dates & Location

Register at www.mcle.org

LIVE WEBCAST

Tuesday, February 6, 2024

9:00 am–1:00 pm

Program # 2240066WBC

REBROADCAST

Wednesday, February 21, 2024

1:00 pm–5:00 pm

Program # 2240066RB1

REBROADCAST

Thursday, February 29, 2024

9:00 am–1:00 pm

Program # 2240066RB2

ON DEMAND WEBCAST

View after Thursday, February 29, 2024

Program # 2240066WBA

 

Tuition (includes written materials)

•   $245

•   $220.50 MCLE Sponsor Members

•   $122.50 New Lawyers admitted to law practice within 5 years, Pending Admittees, Law Students, and Paralegals

•   FREE for MCLE OnlinePass Subscribers

To apply for a need-based scholarship, email [email protected].

 

Materials

Understanding & Using Trusts ebook, plus speaker materials

•   E-materials link emailed upon registration

•   Transcript & videorecording emailed 2 weeks post-program

 

CLE Credits

Earn up to 4 CLE credits

 

Boston Tax Institute – 06/13/24

Estate Planning Essentials:  Federal & MA Issues (706, 709, & M-706 Workshop)

Register Now

DESCRIPTION:

It appears that the Biden Administration attempt to pass the 99.5% Act has failed. While there still may be future attempts, it appears the exemption would not fall back more than the current legislation’s 2026 level. We will explore the latest legislation known as the Tax Cuts and Jobs Act of 2018 which introduced a variety of new planning opportunities – it is all about the basis. Massachusetts, however, continues to limit its exemption to $1,000,000, although there has been some legislation reintroduced to Beacon Hill to increase this exemption to $2,000,000 – stay tuned. 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, including a discussion of the pros and cons of the portability election and how it works, the QTIP election for the state, and even the potential benefits of a federal QTIP election, coupled with gifting assets flush with basis by the surviving spouse to reduce the future Massachusetts estate tax.  Finally, we will explore the recent Supreme Judicial Court decision in the Schaffer case showing how not making a federal QTIP election, even without gifting by the surviving spouse, could lower the estate tax of the surviving spouse.

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 as well as whether they are included in the estate or not, 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 through a combination of the federal QTIP election and portability.  So, sharpen your pencil and come to this hypothetical-packed session ready to “do the math.”

 Zoom Live Video Conference

Date:  THURSDAY, June 13, 2024

Time:  1:00 PM – 4:30 PM

Speaker

Todd E. Lutsky, Esq., LL.M., Cushing & Dolan, P.C., Waltham

CPE Credits:  4