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 $1 million (where surviving spouse [...]

Question: Does the trustee of an irrevocable trust pay income tax on the fee they charge the trust? Would that fee then be a deduction from trust income? Response: Yes on both counts. Fees earned [...]

If you’re like me, your charitable giving is somewhat haphazard. It depends on what cause plucks at your heartstrings on a particular day, who is asking for a donation, and whether or not [...]

So, you’re only allowed to give away $16,000 a year to each recipient, right? No, wrong. But it might nevertheless be a good rule of thumb. Like many of our clients, you may be under the [...]