Income Tax Considerations for Irrevocable Trusts Used in Medicaid Eligibility Planning

Estate planning and elder law practitioners should understand certain income tax laws and concepts to best represent clients. In this session, various income tax concepts involving irrevocable trusts will be discussed, with Medicaid eligibility in mind. Topics will include grantor trust status versus non-grantor trust status, the impact of trust accounting principles when irrevocable income-only trusts are used in Medicaid eligibility planning, achieving stepped-up basis at death, and preserving the capital gain exclusion upon sale of a homestead.

Presented by: Mark Munson

CLE: 1.0 general credit

Approved States: CA, CO, FL, GA, IL, NJ, NV, NY, OH, OK, PA, TN, TX, UT, VT

(AK, AZ, CT, MO, ND, NH eligible to claim credit.)

We will supply you with the information needed to apply in other states.

Contact shopcle@wealthcounsel.com for CLE assistance.

WealthCounsel members: This CLE eligible program may be complimentary for WealthCounsel members, depending upon their subscription bundle.  Please access and view it here via the member website for optimal experience and inclusion in your CLE Profile Account.