Question: In regard to the maximum tax-free estate pass through of $1 million free of estate tax in Massachusetts at the death of the first spouse. In order for that to happen, does anything need [...]
Question: I have elderly parents who are looking to update their revocable trust into an irrevocable one. They would just like to put their 2 homes (their primary residence & an investment [...]
Question: My entire estate is worth about $6 million. I am now single and a legal resident of Florida. I still own a home in Massachusetts (worth $300,000). I stay at the Massachusetts home for [...]
Question: We are Canadians and we own condo in California, where our daughter lives. We would like to transfer the property to our daughter. What is best way, considering USA and Canadian taxes? [...]
Question: A client is a resident of Florida – spends more than 6 months a year there, has a Florida driver’s license and a home in Florida. She also has a property in Maine. While in [...]
Question: When my children will need to pay a Massachusetts estate tax after my death, will that deductible come from their federal income taxes? I read somewhere that it will. Response: No. [...]
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 an 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 have a 3 questions about the timing and documentation of gifting: 1. If gift checks were written in 2018, but not cashed until 2019, in what year are they counted? 2. If gift checks [...]
Question: I live in Massachusetts. Say my estate is about $1.2 million, my case. So I gift my daughter $300,000 cash and file a form 709 gift tax return. The excess over $15,000 reduces my [...]
