January 2020 Newsletter

the secure act

The Secure Act

We write to share a recent change in the law governing retirement plans as of January 1, 2020. If you have one or more retirement plans (e.g. 401(k)s or IRAs), this change could impact your estate plan.

estate taxes 2020

Key Estate And Gift Tax Numbers For 2020

The IRS has issued updated exemption amounts for estate and gift taxes for the 2020 calendar year.

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Past Issues

celebrity-tales about estate planning

Some Cautionary Celebrity Tales; Why Careful Estate Planing Is Important

Even celebrities die without wills. Picasso’s unplanned estate paid an extra $30 million in taxes. Prince’s $300 million estate faced unnecessary significant taxes and disputes, with false claims by alleged heirs, including a convicted felon.

funeral arrangements greater boston

Preplanning Funeral Arrangements

If you have wishes regarding your funeral services or burial arrangements, there are various ways to make such wishes known.

Estate Plan

What’s In A Name? Non-Probate Property And Estate Planning

As part of the estate planning process, it is important to distinguish between so-called “probate” assets and “non-probate” assets because your Will only controls the disposition of your probate assets.

Estate Planning = Peace of Mind

The emotional and financial costs of fixing problems when someone has failed to plan greatly exceed any such costs addressing issues up front in an estate plan.

Non-Tax Reasons for Estate Planning

While estate tax minimization continues to be an important estate planning goal for Massachusetts residents, there are many “non-tax” reasons to regularly review and update your estate plan as well.

The Trouble with Joint Accounts

Adult children commonly help their parents with bills, and are often added on financial accounts as joint owners to enable this help. While this may seem like a good idea, it is fraught with problems.

Spring 2018

  • Federal Estate Tax Changes
  • Health Care Planning

Fall 2017

  • Using Trusts to Protect Family Assests
  • IRA Charitable Rollover

Summer 2017

  • Estate Tax Uncertainty
  • What is a MOLST?

Fall 2016

  • Valuation Discounts in Jeopardy?
  • Once You’re Eighteen, You Need an Estate Plan

Spring 2016

  • How GRATs Work
  • IRA Charitable Rollover