Archive | Blog

Long-Term Care Planning

To all of our clients who are looking to cross something off their to-do list this summer, check out this interesting read  from last week’s “Your Money” Section of The New York Times.  It’s never too early to start the conversation about long-term care planning!  This article shows us that even people who consider themselves […]

SJC Issues Favorable Decision for Irrevocable Income Only Trusts

On May 30, 2017, the Supreme Judicial Court vacated the judgments of the Worcester County Superior Court companion cases, Daley and Nadeau, concluding that the right to use and occupy a residence does not make the assets contained within an irrevocable income only trust countable for MassHealth purposes.  The cases, which were argued before the […]

Your Real Estate and Owner’s Title Insurance

The most valuable asset many clients own is their primary residence and/or vacation home. One “tool” in the estate planner’s toolbox to effectively avoid the time-consuming and expensive probate process at an owner’s death is to transfer or “convey” real estate into a Trust. However, such a conveyance should be completed with caution to ensure […]

Options to Protect the Primary Residence from Long-Term Care Costs

If you are following along with the irrevocable trust saga, you know that on January 5, 2017, the Supreme Judicial Court heard oral argument on two irrevocable income only trusts where the MassHealth applicant placed his or her primary residence into the trust prior to applying for nursing home benefits.  It was incredible to watch […]

Happy Anniversary to the Massachusetts Estate Tax!

As a follow-up to my July 2016 blog commemorating the 100th anniversary of the federal estate tax, and as promised in that post (and better late than never), we are recognizing the less-significant-but-still-worth-commemorating 40th anniversary of the Massachusetts Estate Tax. The Massachusetts estate tax, like the federal estate tax, is a transfer tax that taxes […]

Time for the Big Leagues—Irrevocable Trusts Get Called Up to the SJC

After more than half a decade of uncertainly and speculation surrounding irrevocable income only trusts in the MassHealth context, the highest court in Massachusetts has decided to weigh in on the debate in deciding to review the Nadeau and Daley cases.  Hopefully a decision from the Supreme Judicial Court (SJC) sometime next spring will finally […]