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Answers to your estate planning questions so you can take care of your family and yourself. Answers to your estate planning questions so you can take care of your family and yourself. Answers to your estate planning questions so you can take care of your family and yourself.
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Tag Archives for: "credit shelter trusts"
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 Why Must We File a Massachusetts Estate Tax for Vacation House in Trust?
0
By Harry Margolis
In Estate and Gift Taxes
Posted July 25, 2024

Why Must We File a Massachusetts Estate Tax for Vacation House in Trust?

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 [...]

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 Should We Keep Our Estate Tax Plan Under New Massachusetts Estate Tax Law?
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By Harry Margolis
In Estate and Gift Taxes
Posted October 23, 2023

Should We Keep Our Estate Tax Plan Under New Massachusetts Estate Tax Law?

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 [...]

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 Will Our Estate Be Subject to the Massachusetts Estate Tax?
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By Harry Margolis
In Estate and Gift Taxes
Posted September 6, 2023

Will Our Estate Be Subject to the Massachusetts Estate Tax?

Question: My wife and I live in the great state of Massachusetts and have each funded our own individual credit shelter trusts for $1 million. Beyond that we have about $500,000 in a joint bank [...]

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 Can House in Credit Shelter Trust Get Step-up When Surviving Spouse Dies?
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By Harry Margolis
In Estate and Gift Taxes, Real Estate
Posted January 20, 2023

Can House in Credit Shelter Trust Get Step-up When Surviving Spouse Dies?

Question: Wife transfers her 50% interest in their house to husband’s revocable trust. Husband dies and 100% of house owned by credit trust in H’s trust of which W is beneficiary. When W dies,  [...]

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 Should I Disband My Deceased Husband’s Marital Trust?
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By Harry Margolis
In Estate and Gift Taxes, Irrevocable Trusts
Posted March 21, 2022

Should I Disband My Deceased Husband’s Marital Trust?

Question: I’m the beneficiary of a trust left by my husband. The investments in the trust include long- and short-term losses that could offset capital gains in other investments I hold in [...]

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 Can We Merge QTIP and Credit Shelter Trust Now with the Higher Tax Exclusion?
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By Harry Margolis
In Estate and Gift Taxes, Irrevocable Trusts
Posted February 4, 2022

Can We Merge QTIP and Credit Shelter Trust Now with the Higher Tax Exclusion?

Question: Long ago, my parents created a family trust which required creating a survivor trust, credit shelter trust and QTIP trust upon the death of the first of them. One of them died. The [...]

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 Can Married Couple Shelter $4 Million from Massachusetts Estate Taxes?
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By Harry Margolis
In Estate and Gift Taxes
Posted May 5, 2020

Can Married Couple Shelter $4 Million from Massachusetts Estate Taxes?

Question: Assuming a couple with a Massachusetts joint taxable estate of $5 million, I see how you say to use a trust for the benefit of surviving spouse with $2 million (where surviving spouse [...]

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 Can Surviving Spouse Protect $2 Million of Deceased Spouse’s Estate from Taxes in Massachusetts?
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By Harry Margolis
In Estate and Gift Taxes
Posted January 24, 2020

Can Surviving Spouse Protect $2 Million of Deceased Spouse’s Estate from Taxes in Massachusetts?

Question: In regard to the maximum tax-free estate pass through of $2 million free of estate tax in Massachusetts at the death of the first spouse. In order for that to happen, does anything need [...]

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 Portability Permits Doubling the Estate Tax Exemption for Surviving Spouses
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By Harry Margolis
In Estate and Gift Taxes
Posted April 14, 2017

Portability Permits Doubling the Estate Tax Exemption for Surviving Spouses

In 2012, Congress instituted portability under which the surviving spouse may add the unused portion of a deceased spouse’s unified credit to her own unified credit. Here’s how it works: Let’s [...]

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Wondering if a trust makes sense for you?

This comprehensive guide provides all you need to know (in plain English).

Harry Margolis book: The Baby Boomers Guide to Estate Planning

Get the Book
(An Amazon Prime Reading selection)

Read Sample Chapters

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