Help

"1st Look" at What the Daley & Nadeau Decisions Mean to Irrevocable Trusts & Medicaid Planning

Is it finally over? Discussion of the decision and what it means for the use of IIOTs in long-term care planning

  • Product Number: 2170828P01
  • CLE Credits, earn up to:
    2 substantive credits, 0 ethics credits CLE Credit Note
  • Add to Favorites List

Choose Date/Location:

Registration for this program is closed
  • Product Description
  • Agenda & Materials
  • Faculty
  • Product Description

    Product Description

    In a unanimous decision in the cases of Nadeau v. Director of the Office of Medicaid and Daley v. Secretary of the Executive Office of Health and Human Services, the Massachusetts Supreme Judicial Court held that the ability of an applicant for benefits to reside in property that has been transferred into an irrevocable trust does not render the corpus of the trust a countable resource in a MassHealth long-term care benefit application. Although generally seen as a victory, the SJC added dicta regarding determination of income and powers of appointment to non-profits which has some practitioners worried.

    Several organizations and many practitioners have put in many uncompensated hours on these cases in an effort to establish Irrevocable Income Only Trusts (IIOTs) as viable planning tools and stem the tide of inconsistent hearing decisions. As the June 13, 2017, New York Times Op-Ed piece entitled, “You’re probably going to need Medicaid” noted, long-term care benefits are no longer only for the indigent—they have become a necessity for most median level income households as well. As such, with the aging population, IIOTs will become necessary planning tools for most average-sized estates and learning how to properly draft these trusts is a necessity for all practitioners.

    In this program you hear from attorneys who participated in the Daley/Nadeau case and the cases cited therein to discuss the decision and the drafting issues surrounding IIOTs in order to effectively serve your clients.

  • Agenda

    Agenda & Materials

    Please Note

    MCLE webcasts are delivered completely online, underscoring their convenience and appeal. There are no published print materials. All written materials are available electronically only. They are posted 24 hours prior to the program and can be accessed, downloaded, or printed from your computer.

  • Faculty

    Chair

    Steven M. Cohen, Esq., Rubin and Rudman LLP, Boston

    Faculty

    Patricia Keane Martin, Esq., Seegel Lipshutz Lo & Martin LLP, Wellesley Hills
    Lisa M. Neeley, Esq., Rubin and Rudman LLP, Boston
TOP