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.
Category: Estate 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...
When Is the Best Time to Create and Update an Estate Plan?
Having a comprehensive estate plan is essential to preparing for your and your family’s future. But not everyone knows when to create – or update – one. On top of that, the topics that come up during this process are often considered to be morbid. This leads many individuals to avoid the subject...
Estate Planning For A Relative With Special Needs
Estate planning is a challenge, especially when done on behalf of a child or other relative with special needs. There are different considerations involved and therefore different objectives compared to standard estate planning. If you have a child or loved one with a disability or mental limitation, you should...