Learn More At Our Seminars And Lectures
The Foundation for Continuing Education – 11/12/24 Medicaid Planning Update – 2024 What’s New with Medicaid and What Needs to be ReviewedTo 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:
Drafting and Taxation of Irrevocable Income Only Trusts: Come Learn
Testamentary Trusts, IRAs, and Life Insurance:
Live Conference Speaker CPE Credits: 4 |
The Foundation for Continuing Education – 12/03/24 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 Speaker CPE Credits: 4 |
Drafting Successful Medicaid Trusts – 12/10/24
Expert advice on withstanding MassHealth scrutiny Creating an effective Medicaid trust requires not only a deep understanding of trust law, but also of estate and tax planning. You must know how to draft trust terms that will get approved—not always easy 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 analysis of recent and current Medicaid trust cases both at the fair hearing stage and at the Superior Court and Supreme Judicial Court. The faculty include a complete review of the SJC’s decision in Fournier v. Sudders and explore the current arguments the state is making, which includes attacks on the limited power of appointment to charities or children, the argument that nominee realty trusts are revocable, the power to loan money to the donor, the power to buy life insurance, and several others. Review the Hirvi Settlement, the 130 CMR § 610.00 regulations, and the MassHealth Eligibility Operations Memo 20-04. Learn about the grantor powers that are safest to use and which ones are being challenged by the state. Hear a discussion of the income tax benefits of making the trust a grantor trust and the importance of keeping the § 121 capital gains exclusion. Learn what paragraphs should and should not be in these irrevocable trusts, as well as how to draft around current challenges and make arguments to distinguish your trust from the Cohen, Doherty, and most recent Braiterman cases that MassHealth uses to attack Medicaid trusts. Explore the step-up basis rules and the estate and gift tax rules related to drafting these trusts, along with the tax implications of using life estates. Learn how to draft a QTIP share and remainder share into these trusts to obtain estate tax reduction and nursing home protection at the same time. Finally, learn how naming the estate the beneficiary of your IRA coupled with a testamentary trust can offer significant estate tax savings and nursing home protection without a negative income tax hit on the required minimum distributions. Agenda
Faculty Lisa M. Neeley, Esq., Rubin and Rudman LLP, Boston, Chair; Karen B. Johnson, Esq., Madge & Johnson, PC, Westford; Todd E. Lutsky, Esq., LL.M, Cushing & Dolan, PC, Waltham; Angelina Pargoff Stafford, Esq., Doherty, Wallace, Pillsbury & Murphy, PC, Springfield Dates & Location Register at www.mcle.org Live Webcast Tuesday, December 10, 2024 Rebroadcast Friday, December 27, 2024 Rebroadcast Thursday, January 2, 2025 On Demand Webcast View after Thursday, January 2, 2025 Tuition (includes written materials)
To apply for a need-based scholarship, email [email protected]. Materials
CLE Credits Earn up to 3 CLE credits Subscribe to the MCLE OnlinePass® for instant access to this program and everything else MCLE offers online. Learn more at www.mcle.org |