Question: For many years, I have been contributing annual gifts (less than the exclusion amount) to a joint account I set up for my son. I’m a joint owner but the account is in his Social [...]

Question: In your Capital Gains summary you mention life estates and joint ownership as options to transfer property to children. Wouldn’t either of these options result in a gift tax? We [...]

Question: My estate in general is less than the taxable federal limit. Is there a problem in leaving a portion of it to an organization in London, England, that is certified as a non-profit [...]

Question: My husband and I have SLATs set up. The only beneficiaries are our son and 2 grandsons. Our son lost his job and has been looking without luck for 4 months for a new one. He is very [...]

Question: I have a married couple who want an irrevocable trust as they are concerned with asset protection and long-term care. They are close enough to having a Massachusetts estate tax where it [...]

Question: My parents were Florida residents. My father passed away in 2020 and my mother this year. My father’s living trust holds title to their vacation home in Massachusetts. The trust [...]

Question: I am trying to set up the chart of accounts for our family’s (my wife’s & mine) accounting. How do I categorize our (my wife’s & mine) revocable trust? Do I [...]

Question: I have question regarding taxable income. I am a US citizen living in Thailand. Over the next several years I want to build a house with my domestic partner of the the past 22 years who [...]

Question: We have a special needs trust for our daughter to be funded by a life insurance policy on my husband’s life. We’re wondering if we should transfer the policy to the trust in [...]

Question: I am eager to understand how the new Massachusetts estate tax legislation may impact our estate planning strategies. Specifically, I am curious to know whether it includes provisions [...]