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2012 Seminar Archive

2012 Seminar Archive


October 23, 2012

Preparing Fiduciary Income Tax Returns for Decedents, Estates & Trusts – MAA

Date: 10-23-2012

Time: 9:00 AM – 5:00PM

Location: Holiday Inn Select, 15 Middlesex Canal Park Drive, Woburn

Speakers: Leo J. Cushing, Esq., CPA, LLM and Todd E. Lutsky, Esq., LLM


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 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; Anything 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).

November 1, 2012

Medicaid Planning Update – (FCE)

Date: 11-1-2012

Time: 9:00AM – 1:00PM

Location: Peabody Holiday Inn, One Newbury St. (Route 1 North Bound), Peabody, MA

Speaker: Todd E. Lutsky, Esq., LLM


The Medicaid Planning Survival Guide includes new Annuity Rule Changes, Planning with Promissory Notes,
and much more (370 + Pages with Sample Irrevocable Trust)
Mass. Medicaid Update – Deficit Reduction Act of 2005 as Adopted by Massachusetts Regulations and Related Planning Opportunities.

  1. Medicaid Update – Federal Deficit Reduction Act of 2005 and Related New Rules.
  2. Medicaid Update – Deficit Reduction Act of 2005! New rules coupled with old rules and related planning opportunities.
  3. 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.
  4. Repeal of Expanded Estate Recovery Rules and A Return to Probate Estate Recovery and a Review of the Old & New Rules & Remaining Opportunities.
  6. Changes to the Treatment of Married Couple’s Assets When One Spouse is Institutionalized.
  7. New Appendix / Valuable Reference Materials & New Sample Irrevocable Trust.
  8. New 2012 Medicaid Numbers.

November 13, 2012

Federal & Massachusetts Issues (706 & Mass. 706) (FCE)

Date: 11-13-2012

Time: 9:00AM – 1:00PM

Location: Cushing & Dolan, P.C., 375 Totten Pond Road, Suite 200, Waltham, MA

Speaker: Todd E. Lutsky, Esq., LLM


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 & 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.

November 14, 2012

CPAmerica International’s 2012 Tax Conference

Session: Your 2012 Gift Giving Guide

Date: 11-14-2012

Time: 12:00 PM – 1:40 PM

Location: Nashville, Tennessee

Speaker: Leo J. Cushing, Esq., CPA, LLM


  • An analysis of the legal, gift, estate, and income tax consequences of estate planning & gift giving with trusts, including GRATs, QPRTs, Domestic Asset Protection Trusts, Dynasty Trusts, Charitable Remainder Unitrusts (CRUTs), and Charitable Remainder Annuity Trusts (CRATs)
  • Choosing & changing trust situs and domicile
  • Intentionally Defective Irrevocable Grantor Trusts: Where are we now? A complete summary of recent rulings involving IDITs

November 15, 2012

Divorce Law Basics (FCE)

Date: 11-15-2012

Time: 1:00PM – 5:00PM

Location: Randolph Lantana, 43 Scanlon Drive, Randolph, MA

Speaker: Ann Cushing, Esq.


Join Ann Cushing in discussing the complexities of Divorce Statutes & Rules, Client Interview, Divorce Procedure, Procedure after the Complaint is Filed, Discovery, Internal Revenue Code, Qualified Domestic Relations Order, Exhibits.

November 20, 2012

Income Taxation of Trusts and Estates (FCE)

Date: 11-20-2012

Time: 9:00AM – 1:00PM

Location: Cushing & Dolan, P.C., 375 Totten Pond Road, Suite 200, Waltham, MA

Speaker: Leo J. Cushing, Esq., CPA, LLM


  1. Introduction
  2. Definitions and General Filing Requirements.
  3. Income Taxation of Simple, Complex and Grantor Trusts.
  4. Decedents Final Return & Income in Respect of Decedent.
  5. Estate Administration Procedural Checklist.
  6. Computation of DNI with related 1041 Tax Return Examples
  7. Questions and Answers.

December 6, 2012

Estate Planning: Intermediate/Advanced

Date: 12-6-2012

Time: 9:00AM – 5:00PM

Location: Cushing & Dolan, P.C., 375 Totten Pond Road, Suite 200, Waltham, MA

Speaker: Leo J. Cushing, Esq., CPA, LLM


  • Proposed Legislation
  • Estate Planning Techniques After the 2010 Act
  • Reducing Taxes: Planning & Lifetime Giving
  • Review of the Basics: Computation Example
  • Examination of Typical Trust: General Marital, Special Marital, and Bypass Shares
  • Marital Deduction & Credit Shelter
  • The QTIP
  • Selection of a Trustee
  • Disclaimers
  • Generation Skipping
  • The Irrevocable Life Insurance Trust
  • The Estate Tax Freeze
  • Retirement Plans Problems
  • S Corporation Problems
  • Buy and Sell Agreements
  • Questions and Answers.

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