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Estate Planning › State Taxes

Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the... more +
Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the disposition of assets, guardianship of minor children, and appointment of representatives to make medical and financial decisions. Effective estate planning can decrease tax liability and facilitate the probate process.  less -
Goulston & Storrs PC

Further Updates to the Massachusetts Estate Tax

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On October 4, 2023, the Massachusetts estate tax was updated for the first time in seventeen years (the “2023 Act”). Primarily, the 2023 Act created a $2,000,000 exemption from the estate tax for all decedents who died on or...more

Hinckley Allen

Understanding 2024 Estate, Gift, and Generation-Skipping Transfer Tax Exemptions

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Each year, certain estate, gift, and generation-skipping transfer (“GST”) tax figures are subject to inflation adjustments that go in effect on January 1. Below are the current adjustments for 2024....more

Partridge Snow & Hahn LLP

Massachusetts Estate Tax Changes

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Governor Maura Healey signed a tax relief package into law on October 4, 2023, making changes to how the Massachusetts estate tax is calculated. The new law doubles the Massachusetts estate tax exemption from $1 million to...more

Burns & Levinson LLP

MA Estate Tax Update: Estate Tax Exemption Is Now $2M

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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

Burns & Levinson LLP

MA Estate Tax Update: Senate Accepts $2M Estate Tax Exemption

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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

Nutter McClennen & Fish LLP

Estate and Income Tax Provisions in Pending Massachusetts Tax Relief Package

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The Massachusetts House and Senate voted in favor of a Massachusetts tax relief bill. The legislation is now on Governor Maura Healey’s desk, and she has until October 8th to act. More than two decades have passed since the...more

Rivkin Radler LLP

Cocktails & Estate Planning are Not Necessarily Good Mixers

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Oh, the things you hear at cocktail parties: “Everyone should have a revocable trust,” “It’s easy to change your residence to Florida for tax purposes – just count days and get a Florida license,” “Make all your trusts...more

Proskauer Rose LLP

Personal Planning Strategies - July 2022

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With Recent Court Decision, Out-of-State Owners of New York Houses Can Breathe Easier - A recent New York appellate court ruling has major implications for individuals who own a house in New York State but do not consider...more

Blank Rome LLP

2022 California Estate and Tax Planning Newsletter

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Our annual estate and tax planning newsletter discusses certain concepts and techniques that should be considered in 2022 by our clients and friends in California. Perhaps the most important recent development was the failure...more

Bowditch & Dewey

Will Massachusetts Finally Overhaul the Estate Tax?

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Estate taxes are generally thought of as a tax on the wealthy, but wealthy is a relative term. The Massachusetts Estate Tax applies to a surprisingly large portion of the middle class, not just the top 1%. The estate tax is...more

Adler Pollock & Sheehan P.C.

Estate Planning Pitfall: You Haven’t Updated Your Estate Plan After a Move

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Are you planning to move to a different state? It may be due to a change in jobs, a desire for a better climate, an opportunity to downsize or to be closer to your kids. In any event, you’ll have to cope with some hassles,...more

Rivkin Radler LLP

WILLS, TRUSTS & ESTATES: PLAIN AND SIMPLE – Changing Your Residence For State Tax Purposes – More To It Than You May Think

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Oftentimes, in the summer, we return to the topic of changing your residence for state tax purposes. There are five factors which the tax authorities will look to in determining whether someone has changed their residency. ...more

Davis Wright Tremaine LLP

No Time Like the Present: Estate Planning Strategies for Potential Changes in 2021 and Beyond

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The Estate Planning Team at Davis Wright Tremaine LLP issues advisories regularly to communicate important law changes and other matters of interest to our clients, their advisors, and our friends. The 2020 presidential...more

McDermott Will & Emery

Policy Outlook: How The 2020 Election Outcomes Will Impact Your Business - Health Policy

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In this session, health law policy authorities discussed changes likely in 2021 in a Biden Administration and how these changes will impact business objectives and strategies for health industry stakeholders...more

McDermott Will & Emery

[Webinar] Policy Outlook: How The 2020 Election Outcomes Will Impact Your Business - November 5th, 12:00 pm - 2:15 pm EST

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Are you prepared for the critical impacts of the US election outcome to you and your business in 2021 and beyond? Join McDermott’s lawyers and our policy and lobbying team for perspective on the effects of administration...more

Davis Wright Tremaine LLP

Washington Estate Tax Benefits of Certain Family-Owned Businesses

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Washington state grants estate tax relief if a decedent owns a qualified family-owned business interest (QFOBI) at the time of death and such property passes to a "qualified heir." ...more

Verrill

2020 Estate Planning Update

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SECURE ACT - What you need to know: The Setting Every Community Up for Retirement Enhancement (SECURE) Act went into effect on January 1, 2020. The most significant provisions of the SECURE Act involve changes to the...more

Katten Muchin Rosenman LLP

2019 Year-End Private Wealth Advisory

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In 2019, the Tax Cuts and Jobs Act (the Act) and its resulting tax reform continued to dominate the planning landscape. As outlined in our 2018 Year-End Estate Planning Advisory, the Act made significant changes to individual...more

McDermott Will & Emery

[Event] 2019 Private Client West Coast Forum – November 8th, Palo Alto, CA

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Please join us this November for McDermott Will & Emery’s Private Client West Coast Forum. At this complimentary program, experienced McDermott partners will lead discussions on a broad range of topics pertinent to ultra-high...more

McDermott Will & Emery

[Event] 2019 Private Client West Coast Forum – November 7th, San Francisco, CA

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Please join us this November for McDermott Will & Emery’s Private Client West Coast Forum. At this complimentary program, experienced McDermott partners will lead discussions on a broad range of topics pertinent to ultra-high...more

McDermott Will & Emery

[Event] 2019 Private Client West Coast Forum – November 6th, Los Angeles, CA

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Please join us this November for McDermott Will & Emery’s Private Client West Coast Forum. At this complimentary program, experienced McDermott partners will lead discussions on a broad range of topics pertinent to ultra-high...more

Adler Pollock & Sheehan P.C.

Insight on Estate Planning - August/September 2019: Estate Planning Pitfall - You’re setting up trusts in your home state

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Generally, the logical place to establish a trust is in one’s home state. However, for a variety of reasons, that may not be the best option. One may be better off establishing the trust in a different jurisdiction. This...more

A&O Shearman

Estate Planning Advisory

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As a general rule, it is advisable to revisit your estate plan every few years, or if some major change occurs in your personal circumstances or in applicable law. Recent historic changes to the tax law warrant revisiting...more

Verrill

2018 Year-End Estate Planning Update

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Federal Transfer Taxes - The Internal Revenue Service has announced the annual inflation adjustments for the 2019 tax year... Federal unified gift and estate tax exclusion increasing to $11,400,000: As of January 1,...more

Proskauer Rose LLP

Personal Planning Strategies - December 2018

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Estate, Gift and GST Tax Update - What This Means for Your Current Will, Revocable Trust and Estate Plan - The estate and gift tax regimes have been permanent and unified since the passage of The American Taxpayer...more

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