In light of the Dermody decision, Massachusetts practitioners may be seeking alternative solutions to using annuities in their crisis MassHealth planning cases. However, the solution may lie in the term of the annuity rather than a different strategy altogether.
In this webinar, Massachusetts practitioner and former NAELA president Hyman G. Darling, J.D., joins Krause Financial Services’ Scott Engstrom, J.D., and Aaron Kempen to discuss how using a short term can help practitioners leverage the power of an annuity while decreasing the risk of estate recovery for a community spouse.
The panelists will cover:
- An overview of the regulations surrounding the beneficiary requirement for annuities
- How using a short-term annuity impacts the beneficiary requirement
- Term options available and recent annuity trends in Massachusetts
- How brokerage fees affect the “actuarially sound” requirement
- Considerations when choosing a term on your client’s case
