Clients are often interested in gifting to their loved ones not only to benefit the recipient of the gift, but also to reduce the donor’s taxable estate for estate tax purposes. Every taxpayer can give a certain amount each...more
Beginning in 2024, due to new rules within the SECURE Act 2.0, federal law now allows for up to $35,000 in a 529 account to be rolled over to a Roth individual retirement account (“IRA”) for the beneficiary of the 529...more
With the exciting and long overdue news of the increase in the Massachusetts estate tax exemption from $1 million to $2 million for decedents dying on or after January 1, 2023, many Massachusetts residents have been left...more
12/22/2023
/ Asset Management ,
Attorney-in-Fact ,
Beneficiaries ,
Estate Planning ,
Estate-Tax Exemption ,
Guardians ,
Incapacitated Persons ,
Inheritance ,
Probate ,
Trusts ,
Wills
DURING YOUR LIFE -
When preparing your estate plan, it is of utmost importance to ensure that you have documents in place so your spouse or another trusted individual can make medical and financial decisions on your...more
One of the many reasons for executing a Will and Trust is to make your wishes clear and prevent animosity among family members or other beneficiaries after your death. However, there are circumstances in which it is clear to...more
The idea of a visit to an attorney for your estate planning can be daunting. Below is a list of to-do items or at least items to think about before your visit.
MAKE A LIST OF YOUR ASSETS AND AN ESTIMATED VALUE OF THE...more
Now that high school graduation season has passed, parents of college students (or of any child who has turned 18 years old) should encourage their adult children to execute a durable power of attorney, health care proxy and...more