Posts Categorized: Articles

Federal Estate Tax and the Big Beautiful Bill

The Bill was signed into law by President Trump on the 4th of July. Many of its tax provisions are extensions from the 2017 Tax Cuts and Jobs Act, as to its application to federal estate tax. The new law raises the federal estate tax exemption amount to $15,000,000 per person and $30,000,000 per married… Read more »

PROCRASTINATION

PROCRASTINATION – (Noun.) Def:  (1) “The action of delaying or postponing.” (2) “To keep delaying something that must be done.”                               — The Cambridge Dictionary.   Finally, I have gotten around to writing this article.  You might ask: “What does procrastination have… Read more »

What is a Trust and Should I Have One ?

Trusts are nothing more than a legal relationship and contract agreement, where the owner of some type of assets (the Donor, Grantor or Settlor), transfers possession of those assets in a written agreement (the Trust) to someone who agrees to be the holder of the assets (Trustee), and who also agrees to make the distributions… Read more »

First Time In 20 Years Massachusetts Revises Estate Tax Law

On October 4, 2023, Massachusetts Governor Maura Healey signed sweeping tax changes into law. One of the most important of these changes was to the Commonwealth’s estate tax exemption. Historically, the exemption amount was one of the lowest in the country ($1M/ per estate). The new law raises that amount to ($2M/ per estate) and… Read more »

Prenuptial Agreements

Do they say: “I don’t trust you and expect that we are going to wind up getting divorced anyway” ; or Do they say: “You and I have once before gone through a very contentious, hurtful, hateful and litigious divorce in the past and we do not ever want that to occur between us“? If… Read more »

Yes . . . You Do Need a Will!

According to a recent report from Morgan Stanley, only 39% of individuals earning between $40,000 and $ 80,000 per year have a will. This means that 61% of those in that group do NOT have a will. If you do not have a will, the state government decides who will get your assets–such as your… Read more »

Where There’s a Way – There’s a Will

Do you want a way to find some peace of mind in these troubling times? Would you like a way to establish direction and provide a future for your family and loved ones?  You certainly want a way to determine who will be the guardians for yourself and your children in the event you cannot… Read more »

Don’t let the tail of the increased federal exemption wag the estate planning dog

On December 22, 2017 the President signed the TAX CUT AND JOBS ACT (The “Act”) that became effective January 1, 2018. For estate tax purposes and for estate tax planning purposes, the Act essentially doubled the federal estate, gift, and generation-skipping transfer tax exemptions through the end of 2025. This means that as of January… Read more »