Product Description

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.

This program analyzes recent and current Medicaid trust cases both at the fair hearing stage and at the Superior Court and Supreme Judicial Court. The faculty review the SJC’s decision in Fournier v. Sudders and explore 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. Since the Fournier case Medicaid trusts have been accepted more frequently, but proper drafting remains very important. Review the MassHealth Eligibility Operations Memo 20-04. Learn about the grantor powers that are safest to use, and which ones are being challenged, understanding 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 estate and gift tax rules related to drafting these trusts. 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. Learn how to use the Secure Act and testamentary trusts to protect an IRA from the nursing home while also providing significant estate tax savings without a negative income tax hit on the required minimum distributions. Finally, learn the pros and cons of life estates in conjunction with these irrevocable trusts and the related income, gift, and estate tax implications of same.

Agenda & Materials

• 1:00 - 1:05 pm

  Welcome and Introduction
• 2:40 - 2:50 pm

  Break
• 2:50 - 3:35 pm

  Litigation-Proofing Your Medicaid Irrevocable Trust
• 1:05 - 1:35 pm

  How Understanding Your Client’s Business Needs and Priorities Can Help Structure an Efficient Drafting and Negotiation Process

  John F. Cohan, Esq., Gesmer Updegrove LLP , Boston
  
• 3:35 - 3:50 pm

  Roth Conversions

  Benjamin Shwartz, Esq., Verrill Dana LLP , Boston
  Kimberly Kramer, Esq., McLane Middleton , Boston
  
• 1:35 - 2:05 pm

  Using Timetables, Term Sheets, and Letters of Intent
• 3:50 - 4:00 pm

  "Ask the Experts" Q&A Session and Key Takeaways

  Eric M. Sigman, Esq., Ruberto, Israel & Weiner, PC , Boston
  
• 3:50 - 4:00 pm

  "Ask the Experts" Q&A Session and Key Takeaways

  Eric M. Sigman, Esq., Ruberto, Israel & Weiner, PC , Boston
  
• 2:05 - 2:15 pm

  Break
• 2:15 - 2:45 pm

  Negotiation Points in Select Key Provisions: Representations, Warranties, Covenants, and Conditions

  John F. Cohan, Esq., Gesmer Updegrove LLP , Boston
  
• 2:45 - 3:15 pm

  Key Issues in Commonly-Encountered Contracts

  Kimberly Kramer, Esq., McLane Middleton , Boston
  
• 3:15 - 3:40 pm

  Drafting and Negotiation Pet Peeves

  Panel
  
• 3:40 - 4:00 pm

  "Ask the Experts" Q&A Session and Key Takeaways

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.

Chair

Faculty

Fees

• $220.50 - MCLE Sponsor Member
• $122.50 - New Lawyer
• $122.50 - Pending Admittee
• $122.50 - Law Student
• $122.50 - Paralegal
• $245.00 - All Others

To apply for a need-based scholarship for this program, email scholarships@mcle.org.

Available FREE with an MCLE OnlinePass^® subscription.