As estate planners, many of our client meetings begin with this statement: “I need a will and I want to avoid probate.” The first thing we explain is that a will, although critical to a complete estate plan, does not “avoid probate.” While there are several ways to avoid probate, some are better than others, depending on the client’s personal and financial situation. A probate avoidance technique that works for a standard estate plan might be detrimental for a Medicaid plan. In this new program, we discuss the various methods for avoiding probate, and the potential pitfalls with some of them in different situations.
Course Content
12:00 - 12:05 pm - Welcome and IntroductionJennifer Z. Flanagan, Esq.,
Mirick, O'Connell, DeMallie & Lougee LLP, Worcester
12:05 - 12:10 pm - Jointly-Owned Property
Jennifer Z. Flanagan, Esq.,
Mirick, O'Connell, DeMallie & Lougee LLP, Worcester
12:10 - 12:15 pm - Beneficiary Designation Property, Including Transfer on Death and Payable on Death Designations
Jennifer Z. Flanagan, Esq.,
Mirick, O'Connell, DeMallie & Lougee LLP, Worcester
12:15 - 12:20 pm - Life Estates
Elizabeth V. Newton, Esq.,
Mirick, O'Connell, DeMallie & Lougee LLP, Worcester
12:20 - 12:25 pm - Nominee Trust
Jennifer Z. Flanagan, Esq.,
Mirick, O'Connell, DeMallie & Lougee LLP, Worcester
12:25 - 12:40 pm - Revocable Trusts
Stephen L. Sobey, Esq.,
Shatz, Schwartz, and Fentin, PC, Springfield
12:40 - 1:00 pm - Irrevocable Trust for Medicaid Planning
Elizabeth V. Newton, Esq.,
Mirick, O'Connell, DeMallie & Lougee LLP, Worcester
1:00 - 1:05 pm - Using DPA with Married Couples in Medicaid planning
Stephen L. Sobey, Esq.,
Shatz, Schwartz, and Fentin, PC, Springfield
1:05 - 1:10 pm - Break
1:10 - 1:20 pm - Single Person with Children
Stephen L. Sobey, Esq.,
Shatz, Schwartz, and Fentin, PC, Springfield
1:20 - 1:35 pm - Hypothetical: Married with Medicaid
Elizabeth V. Newton, Esq.,
Mirick, O'Connell, DeMallie & Lougee LLP, Worcester
1:35 - 1:40 pm - Hypothetical: DPA for Married Couple in MassHealth Context
Stephen L. Sobey, Esq.,
Shatz, Schwartz, and Fentin, PC, Springfield
1:40 - 1:55 pm - Hypothetical: Married Couple with Children
Jennifer Z. Flanagan, Esq.,
Mirick, O'Connell, DeMallie & Lougee LLP, Worcester
1:55 - 2:00 pm - 'Ask the Experts' Q&A Session and Key Takeaways
Panel
Speaker(s)
ChairJennifer Z. Flanagan, Esq.,
Mirick, O'Connell, DeMallie & Lougee LLP, Worcester
Faculty
Elizabeth V. Newton, Esq.,
Mirick, O'Connell, DeMallie & Lougee LLP, Worcester
Stephen L. Sobey, Esq.,
Shatz, Schwartz, and Fentin, PC, Springfield
