Question: A gift of an existing life insurance policy within 3 years of death is included in the gross estate and taxable at the federal level. It is also included in the Massachusetts gross [...]
Question: If a spouse passes away and has ABC trust structure (marital trust, bypass trust, QTIP trust) and each of these trusts are funded for the benefit of the surviving spouse, are any of [...]
Question: I am the executor of my mother’s estate which calls for her assets to be divided between her five children. My mother’s property has been sold and all distributions will be [...]
Question: If I make a gift of $15,000 shares of property I own to each of my children, do I also have to put them on the property title as co owners of the property? It’s my understanding [...]
Question: If I include in my revocable trust a general power of appointment giving my wife the power to decide the beneficiaries of all assets in the trust and she dies before me does such power [...]
Can a Massachusetts Resident Avoid Estate Taxes by Making Gifts to Get Below the $1 Million Threshold?
Question: If you are a Massachusetts resident and have $3 million, give away $2.5 million and die four years later, so that your taxable estate is $500,000, do you avoid the Massachusetts estate [...]