You reduce estate taxes with life insurance planning in Massachusetts by keeping the death benefit out of your taxable estate, and the standard tool for doing that is an irrevocable life insurance trust (ILIT). If you personally own a policy when you die, the entire death benefit is added to your estate. In Massachusetts, that
How Do I Reduce Estate Taxes With Life Insurance Planning in Massachusetts? Read More »
Your trust can own your S-corp shares in Massachusetts, but only certain kinds of trusts qualify, and the wrong one can quietly destroy your company’s S election and its tax status. While you are alive, a revocable living trust can hold S-corporation stock with no problem. After you die, that same trust can keep the
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The most reliable way to avoid disputes between your children when dividing real estate in Massachusetts is to decide the property’s future yourself, in writing, before you die. That usually means one of three things: direct that the property be sold and the cash split, give the home to one child and balance the others
How Do I Avoid Disputes Between My Children When Dividing Real Estate in Massachusetts? Read More »
Many people spend real time and care getting their will just right, then assume every account they own will follow those instructions. The surprise is that some of your largest assets do not listen to your will at all. Retirement accounts, life insurance, and certain bank and investment accounts pass by beneficiary designation, and the
Why Your Will May Not Control Your 401(k): Beneficiary Designations Explained Read More »
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