Question: What is the advantage of a trust over a will if your estate is under $5 million? Response: There are several advantages to using a trust no matter the size of your estate. Here are a [...]

Question: As a practical matter, how would Massachusetts determine the amount of taxable gifts for estate tax purposes since gifts in small but taxable amounts could have been given over the [...]

Question: I am the trustee for a nominee trust that holds a family home and trustee for a family trust which is listed on the schedule of beneficiaries of the nominee trust. Do I need the [...]

Question: I set up ILIT 20 years ago and added cash and sent the required Crummey letters each year. I’m now thinking of making a large gift to the trust and filing a gift tax return [...]

Question: My sisters and I would liked to sell part of a piece of land worth $15 million or more held in trust. We learned we couldn’t get the money out of the trust thru distributions so we are [...]

Question: My siblings have an irrevocable trust with a few million dollars in stock assets. Is there a place to avoid the fee of parking the assets outside of a trust manager? We don’t want [...]

Question: My father-in-law set up an irrevocable trust which contains about $250,000 held in a non-IRA investment account. When he died in 2020, the funds were transferred to a bank account [...]

Question: We set up an irrevocable trust last year with our daughter, age 50, as beneficiary and trustee. The asset was an apartment building in California which is 100% paid. We would like to [...]

Question: I am a remainderman with five others of property held in a life estate. The life estate holder is asking for reimbursement from the remaindermen for expenses paid for the house. I [...]

Question: In a simple trust, when determining the distributable income, I subtract the expenses (accounting and trustee fees) from the interest and dividend income. Do I subtract 100% of the [...]