| ELDER LAW INSTITUTE XI
Medicaid and Real Estate Preservations Strategies
Sponsored with the Massachusetts Chapter of NAELA
and the Suffolk Alumni Association
Please Note: This course has already
been held.
Date: Friday, March 11, 2005
Location: Suffolk University Law School, 120 Tremont St., Boston, MA
Time: 09:00 AM - 04:00 PM
Schedule/Agenda
Registration Information
Unable to attend but are interested in the course materials?
Purchase Here! |
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Preserving the home for elder clients is always a challenge for lawyers. You need to resolve a complicated set of issues concerning real estate, tax and social security law. This year’s Elder Law Institute XI: Medicaid and Real Estate Preservation Strategies, helps you to understand the nuances of each of these areas of the law and how to apply them to your cases. From a review of the fundamental question of “Where to put the house” to the balancing of the complex rules governing community benefits, to the sophisticated tax and valuation issues, this Institute includes the in depth analysis you need to better represent your clients.
You will also learn the answers to the additional questions that arise when your client has a second home and/or income producing property. Should you convert the property? Transfer it? What are the liability issues? Although not all elders have property concerns beyond their own home, do you know how to represent those who do? Do you know how to utilize the best strategies to protect your client’s assets from long term care costs and thus preserve the real estate for their heirs?
Who Should Attend:
Elder Law Institute XI is geared to intermediate and advanced level practitioners. Participants should have a prior basic knowledge of Medicaid law.
Attend and Learn:
- How should these properties be owned?
- What are the choices?
- How will property transfers affect an elder’s governmental community benefits?
- What tax and valuation issues are created when property is transferred?
- How can tax exemptions be saved?
- What opportunities exist when dealing with income producing property?
- What is the best option for saving the vacation home for succeeding generations?
| S C H E D U L E / A G E N D A |
| 9:00 |
Welcome and Introductions |
Michael Loring, Esq.
President-elect, Massachusetts Chapter of NAELA
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| 9:10 |
Where to Put the House? |
- How life estates work; No probate asset; Reduced value of gift/shorter disqualification; Estate recovery
- Conveyancing issues: Power of Attorney; Capacity; Self-dealing
- Waivers
- Irrevocable trust types: Third party discretionary; (d)(4)(A) Trusts; Income-only trusts
Karen B. Johnson, Esq., Co-Chair
Healy & Johnson, Holliston, MA
Ian S. Oppenheim Esq., Co-Chair
Oppenheim & Cole, LLP, Halifax, MA
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| 9:45 |
Transferring the Home and Impact on Community Benefits |
Impact on giver and receivers PACE Program GAFC Community Mass Health SSI and Medicaid Transfers Laura S. Traiger, Esq.
Ciota, Starr & Vander Linden, LLP, Fitchburg & Worcester, MA
Neal A. Winston, Esq.
Moschella & Winston, LLP, Somerville, MA
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| 11:15 |
Consequences of Choices: Tax and Valuation Issues |
- Valuing life estates for calculating disqualification periods
- Valuing other partial interest gifts for calculating disqualification periods: Income only trusts; Irrevocable trust holding remainder
- Tax consequences to transfers: Income tax on sale of interest & Section 121; Remainder; Life estate; Life estate with Medicaid; Defective grantor trust holding remainder
- Gift tax consequences of transfers: Life estate; Irrevocable trust; Income only trust
Leo J. Cushing, Esq.
Cushing & Dolan, Boston, MA
Carol Cioe Klyman, Esq.
Shatz Schwartz & Fentin, PC, Springfield, MA
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| 2:00 |
Second Home and Conversion of Non-exempt Real Property to Income Producing Exempt Property |
- Transfer to irrevocable trust
- Transfer with retained life estate
- Transfer for a promissory note
- Transfer for a self-canceling installment note (SCIN)
- Transfer for a private annuity
- Borrowing the equity to reduce value
- Conversion to income producing property
- Liability issue and use of LLC to limit liability
- Multi-family residence when part is principal residence
Robert A. Gorfinkle, Esq.
Law Offices of Robert A. Gorfinkle, Braintree, MA Emily S. Starr, Esq.
Ciota, Starr & Vander Linden, LLP, Fitchburg & Worcester, MA
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| Date: |
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Friday, March 11, 2005 |
| Tuition: |
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Tuition is $199; $179 for Suffolk alumni, attorneys admitted to the Bar after 2002 and members of the Mass. Chapter of NAELA. FREE for Suffolk students. Course book and refreshments included in the tuition charge. A limited number of partial scholarships are available. Please submit a written request via fax 617-305-3099.
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| Walk-Ins: |
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Space is limited. Registrations at the door are welcome, but please register in advance to reserve a seat and your written course materials or call to confirm space availability.
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| Refunds: |
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Written requests for cancellations received via fax or email 24 hours prior to the program will be granted a refund, minus a $15 charge. If you cannot attend, you can send a substitute, otherwise you will receive the written course materials.
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| Location: |
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Suffolk University Law School, 120 Tremont St., Boston, MA
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| Credit: |
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Approved for CLE Credit in NY, RI, NH, VT & ME. This program has also been approved for 6 GAL Credits in Category D.
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Special
Needs: |
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If you have special needs addressed by the Americans with Disabilities Act, please notify us as soon as possible.
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Directions to the Law School.
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Unable to attend but are interested in the course materials?
Purchase Here! |
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