Probate is the process by which an individual’s last will and testament is determined to be valid (or “proved”) so that the decedent’s final wishes regarding estate assets can be settled. Although probate is avoidable in some cases, there are many estates that must be subjected to this process before property can...
Category: Estate Planning
How to Prepare for Upcoming Estate Tax Law Changes
Tracy Craig, Chair of our Trusts and Estates Practice Group, recently contributed an informative article to Kiplinger, discussing crucial changes in estate tax laws. This article is a valuable resource for those seeking to understand the impact of these changes on retirement and estate planning.
Your informed planning is...
Tracy Craig Featured in Business Insider on Inheritance Tax
Tracy Craig, Chair of our Trusts and Estates Practice Group, has been recently quoted in a Business Insider article discussing the complexities of inheritance tax. The article delves into the mechanics of inheritance tax, who is liable to pay it, and strategies for effective tax planning.
Summary of Significant Changes to Massachusetts Tax Law
In addition to changes in the estate tax this month, there were significant changes made to many Massachusetts tax laws. Here’s a summary of some of the more important changes:
Estate Taxes
The threshold for a taxable estate is increased from $1,000,000 to $2,000,000 effective for decedents...
Understanding the Pros and Cons of Medicaid Asset Protection Trusts
You’ve spent your life working to amass wealth in the hopes of having some money to live on during your retirement. If you’re like most people, you also want to pass on some of that wealth to your children and grandchildren. However, there is always the threat of chronic illness and the...
Tracy Craig publishes article “How to Handle Estate Planning for Multigenerational Living Arrangements”
Tracy Craig, Chair of the firm's Trusts and Estates Practice Group, recently published an article featured in Kiplinger, "How to Handle Estate Planning for Multigenerational Living Arrangements".
In this notable article, Tracy delves into the complexities that arise when multiple generations cohabitate on a shared property. She adeptly...
Three Estate Planning Considerations for Your Vacation Home
If you own vacation property, it should be included in your estate plan. The failure to account for this significant asset can upset an estate plan and create complications for surviving family members. At SederLaw, we take a comprehensive approach to our estate planning strategies. Our objective is to help you...
4 Reasons Your Will Can Be Contested In Court
If you create a last will and testament to handle your estate and last wishes, you probably assume that document is ironclad and will be immune to any legal challenge. After all, it’s called a last will and testament – meaning it should be the final say in how your assets will...
Options for Charitable Giving in Your Massachusetts Estate Plan
Estate planning can be an important tool for accomplishing an individual’s charitable goals. Charitable giving via an estate plan provides the inherent rewards of supporting causes you believe in while also allowing the donor to benefit from tax deductions.
General concerns about charitable giving
Potentially Problematic Assets in Estate Planning
Leaving an inheritance for your family is one of the best ways to create an enduring legacy and honor the ones you love. But not all assets are created equal. There are complexities and uncertainties attached to many assets that make it both difficult to create an estate plan and execute it...