Monthly Archives: December 2016

Valuation Discounts for Family Businesses Under Attack

This past summer, the Treasury Department issued a controversial set of proposed regulations designed to prevent the long-standing practice of discounting the value of interests in family businesses given to other family members. The regulations have received significant criticism from … Continue reading

Posted in Family Businesses

Massachusetts Supreme Judicial Court to hear oral arguments in two Medicaid eligibility cases involving irrevocable trusts

On January 5, 2017, the highest court in Massachusetts will hear oral arguments in two cases concerning the use of irrevocable trusts in Medicaid planning and denials of long-term care benefits. A synopsis of each case is provided below:

Posted in Elder Law, MassHealth, Trusts

Year-End Income Tax Planning

We are approaching the end of 2016, and attention should now turn to, what else, year-end income tax planning. The end of the year should be used to review your tax situation and determine what, if anything, can be done … Continue reading

Posted in Income Taxes

Commonwealth Proposes Sweeping Changes to MassHealth Regulations

On November 23, 2016, MassHealth issued proposed regulations that seek to implement sweeping changes to the Commonwealth’s health insurance program, also known as MassHealth. Thousands of seniors and disabled individuals rely on MassHealth benefits to provide for their skilled nursing … Continue reading

Posted in Elder Law, Frail Elder Waiver, MassHealth

Year-End Gifting Thoughts – Make Your List and Check It Twice!

There are a number of reasons to make lifetime gifts: to express affection, to provide financial assistance, or to support a charitable organization, to name a few. In some cases, you may even receive a tax benefit from making the … Continue reading

Posted in Charitable Planning, Gifting