The Internal Revenue Service recently announced the 2024 annual inflation adjustments to the lifetime exclusion for federal estate and gift tax (the “basic exclusion amount”) as well as the annual gift tax exclusion, among...more
Today, Wednesday, October 4, 2023, Governor Maura Healey signed Bill H. 4104 into law, creating a Massachusetts estate tax exemption of $2,000,000....more
On Thursday, September 28, 2023, the Massachusetts Senate voted in favor of Bill H. 4104 to increase the Massachusetts estate tax filing threshold to $2,000,000. The Massachusetts House of Representatives approved the Bill on...more
Today, September 27, 2023, the Massachusetts House of Representatives approved an increase to the Massachusetts estate tax filing threshold to $2,000,000....more
Recent online articles have widely reported that Naomi Judd allegedly left nothing in her will to her two daughters, Wynonna and Ashley Judd, and appointed her husband of 33 years, Larry Strickland, as the executor of her...more
Many of us have fond memories of visiting our grandparents at their summer property, whether at a beach house on Cape Cod or in the middle of the woods in the Berkshires. But what happens to this property once your...more
Typically, when couples put together an estate plan, they do so jointly with a single attorney representing both spouses. It is more cost-efficient, allows for open discussion with all parties, and ensures there are no...more
When it comes to creating your estate plan, how do you decide who to name as fiduciaries? How do you determine how to dispose of assets when you have favorite relatives? These are common issues that typically arise in...more
The increase in divorce rates in the U.S. has resulted in a greater number of blended families. Blended families tend to give rise to unique estate planning circumstances and opportunities. The following should be considered...more
For young adults, the inevitable is typically not at the forefront when it comes to making future plans, precluding many from giving any thought to what may happen to their assets on death. In reality, all young adults should...more
Estate planning offers are everywhere – on television, on the internet, through phone solicitations, and even through in-person presentations (albeit less so with the COVID-19 pandemic). So how do you ensure that your...more
My colleague Hether Cahill previously discussed the use of a disclaimer exercised by a conservator for a single transaction. As Hether mentioned, disclaimers can be an excellent estate planning technique....more
Administering an estate can be time consuming, complicated and overwhelming, particularly when there are different types of assets involved. Additionally, estate administration frequently implicates lifetime gifting by a...more
We welcome the New Year by continuing the saga of the Smith and Alexander families. Like the Smiths and Alexanders, many families are considered “blended,” meaning that adults bring children from previous relationships into a...more
The saga of the Smith and Alexander families continues with a discussion of powers of appointment and the implications of Johnny’s exercise of the limited power of appointment granted to him under his parents’ Family Trust....more
As Tiffany mentioned in her introductory post, during the next few months, we will be dissecting important issues presented in our fact pattern involving the Smith and Alexander families....more
My colleague, Hether Cahill, previously addressed the relationship between a guardianship and health care proxy and a conservatorship and durable power of attorney. The purpose of this blog is to further explore the use of...more
This month we will continue the discussion regarding our professional experiences during the COVID-19 pandemic. In my previous post, I addressed how our attorneys have continued working with clients to prepare and execute...more