May 1, 2020 | 2011, applicable exclusion, Estate Planning, estate tax, estate tax savings, Massachusetts estate tax, tax exemption
Mistake No. 3: Not planning for the Massachusetts and Federal Estate Taxes A trust is an effective way of doubling the amounts that a married couple can pass tax free to their children and grandchildren. While the federal estate tax free amounts continue to change and...
May 1, 2020 | 2011, Estate Planning, estate tax savings, Massachusetts estate tax, tax exemption
No Federal Estate Taxes in 2010…Maybe On January 1, 2010, the federal estate tax officially went away. Although there were a few proposed bills in the house to keep the estate tax at 2009 levels (45% tax rates on assets over $3.5 million), these bills did not...
May 1, 2020 | 2011, applicable exclusion, Estate Planning, estate tax, Massachusetts estate tax, tax exemption
“We know the estate tax is coming back, so you want to move assets out,” said Andrew Friedman, in a recent Reuter’s acticle, the former senior tax partner at Washington law firm Covington & Burling. “This is a good year to give away...
May 1, 2020 | 2011, applicable exclusion, Estate Planning, estate tax, estate tax savings, massachusetts estate planning strategies, tax exemption
The federal estate tax has been repealed for just one year: this year. Unless Congress intervenes, it comes back next year with a vengeance. This bizarre case of the disappearing estate tax means that you – and your estate – may be at...May 1, 2020 | 2011, Business Succession Planning, estate tax, estate tax savings, gift tax, New estate tax law, Tax Savings
The new estate tax law, in effect this year and next, offers a unique opportunity to family business owners who want to pass their business on to the next generation. As a recent Wall Street Journal Article points out, taking advantage of the low gift tax levels...May 1, 2020 | 2011, asset protection, homestead protection
On March 16, the new homestead law took effect in Massachusetts. The new law signed by governor Deval Patrick in 2010, clarifies and strengthens the existing MA homestead law. Here is a quick rundown of the new law: 1. Even if you don’t...
