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. 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:
Drafting and Taxation of Irrevocable Income Only Trusts: Come Learn
Testamentary Trusts, IRAs, and Life Insurance:
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 DESCRIPTION:
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
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Boston Tax Institute – 05/21/24 What’s New or Needs Review in Medicaid Planning? 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. 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 |
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National Business Institute – 06/05/24
Medicaid Lookback Rules and Planning
9:00 – 10:15, Lauren DeMatteo
10:30 – 11:45,
11:45- 1:00, Todd E. Lutsky
2:00 – 3:00
3:15 – 4:30, Thomas McKinnon
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.
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Boston Tax Institute – 06/13/24
Estate Planning Essentials: Federal & MA Issues (706, 709, & M-706 Workshop)
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