PLEASE NOTE: Most of our live programs have been paused due to COVID19. Events show below are available. You may schedule “Strategies to Survive and Prosper” program by appointment. Call (978) 468-6528.
2021 Medicaid Planning Update
October 28, 2021 @ 9:00 am – 1:00 pm
The MassHealth agency has been busy issuing Eligibility Operations Memos (EOM) offering both good and bad news but due to the pandemic have seemed to go unnoticed. On 2/18/20, MassHealth released EOM 20-04 which offers guidance on the evaluation and countability of Medicaid Irrevocable Income-Only Trusts.
Come learn how to finally draft these irrevocable trusts to withstand MassHealth’s scrutiny by applying their guidelines under the EOM 20-04, while at the same time maintain Grantor trust status, make the transfers incomplete gifts for gift tax purposes, preserve the sec. 1014 step-up in basis, and reduce estate taxes. Finally we will run through some of the arguments the State is using to challenge these trusts and recent fair hearing decisions.
- Drafting successful irrevocable income only trusts in connection with EOM 20-4
- How to make these trusts Grantor trusts and explore the Grantor trust rules and related income tax benefits associated with them.
- Explore how to make the transfers to these trusts incomplete gifts.
- Learn how to keep the section 1014 step-up in basis and why it is so important today.
- Learn the income and gift tax ramifications and impact on Medicaid eligibility of life estates under the new tables of EOM 19-12 and how to create them and when best to use them.
- Explore he difference between a look back period and a penalty period.
- Review annuity rules, who should be beneficiary, correct language to use, and what happens if the community spouse dies first.
- A review of recent cases and fair hearings on challenges to irrevocable trusts, and nominee trusts.
- How to draft a personal care contract and use them effectively.
- A walk through of what assets are countable vs. non-countable and how they differ if married vs. single, such as the home, rental property, life insurance, band and investment accounts, etc. .
Agenda and written materials:
- “Ask the Experts” Q&A Session
- Copies and Analysis of Recent Cases
- Planning Opportunities
- 2020 Current Medicaid Numbers
To register call 978-468-6528 or download and fax registration form below2021 Reservation Form
All Programs are Designed to Qualify for CPE Credit Under Rules Promulgated by the State Boards of Accountancy, State Bar Associations, IRS Director of Practice and the Institute of Certified Bankers.