Estate Tax Planning

[vc_row padding_bottom=”0″][vc_column][vc_column_text]You’ve worked your entire life to earn what you have. Do you know what will happen to it all when you’re gone?

Estate tax planning is how you make sure that the majority of your estate ends up in the hands of your loved ones, instead of being eaten up by taxes. Especially here in Massachusetts, taking this step can mean saving your heirs tens of thousands of dollars.[/vc_column_text][/vc_column][/vc_row][vc_row padding_top=”0″ padding_bottom=”0″][vc_column][vc_column_text]

Estate Tax Consequences for Massachusetts Residents

If your estate is valued above the estate tax threshold when you pass away, it will be subject to hefty estate taxes. The federal tax threshold was raised in 2017 to $11.2 million per person, or $22.4 million per couple. In Massachusetts, the estate tax threshold is much lower – just $1 million per person, or $2 million per couple.

Will your estate be hit with a major tax bill? It depends on what your assets are. If you own any real property in your name, the market value of that property is counted toward your estate. (However, any amount that you still owe on a property’s mortgage is not included in your estate.) Financial assets like checking accounts, investment funds and the death benefits on your life insurance policy are also part of your estate.

For many, even those who live modestly, the sum of those assets far exceeds the Massachusetts threshold of $1 million. A significant portion of your estate could be swallowed by taxes before any of it reaches your heirs.

Book an appointment or ask us a question

[maxbutton id=”1″ url=”mailto:info@ladimerlaw.com” text=”Email us now” ] [maxbutton id=”1″ url=”tel:508-532-8689″ text=”Call us” ]

[/vc_column_text][/vc_column][/vc_row][vc_row padding_bottom=”0″ post_type=”post” max_items=”4″ style=”all” items_per_page=”10″ show_filter=”” element_width=”3″ gap=”30″ orderby=”date” order=”DESC” filter_style=”default” filter_default_title=”All” filter_align=”center” filter_color=”grey” filter_size=”md” arrows_design=”none” arrows_position=”inside” arrows_color=”blue” paging_design=”radio_dots” paging_color=”grey” loop=”” autoplay=”-1″ item=”masonryGrid_Default” initial_loading_animation=”fadeIn” button_style=”” button_color=”” button_size=”” btn_title=”Load more” btn_style=”flat” btn_gradient_color_1=”turquoise” btn_gradient_color_2=”blue” btn_gradient_custom_color_1=”#dd3333″ btn_gradient_custom_color_2=”#eeee22″ btn_gradient_text_color=”#ffffff” btn_custom_background=”#ededed” btn_custom_text=”#666″ btn_outline_custom_color=”#666″ btn_outline_custom_hover_background=”#666″ btn_outline_custom_hover_text=”#fff” btn_shape=”rounded” btn_color=”blue” btn_size=”md” btn_align=”inline” btn_button_block=”” btn_add_icon=”” btn_i_align=”left” btn_i_type=”fontawesome” btn_i_icon_fontawesome=”fa fa-adjust” btn_i_icon_openiconic=”vc-oi vc-oi-dial” btn_i_icon_typicons=”typcn typcn-adjust-brightness” btn_i_icon_entypo=”entypo-icon entypo-icon-note” btn_i_icon_linecons=”vc_li vc_li-heart” btn_i_icon_monosocial=”vc-mono vc-mono-fivehundredpx” btn_i_icon_material=”vc-material vc-material-cake” btn_i_icon_pixelicons=”vc_pixel_icon vc_pixel_icon-alert” btn_custom_onclick=”” grid_id=”vc_gid:1561747637073-3e79eca331d1c39fdd7252ee207a6cc1-6″ taxonomies=”26″ el_class=”practice-areas-feed” css=”.vc_custom_1561747843719{background-color: #ffffff !important;}” include=”” custom_query=”” meta_key=”” offset=”” exclude=”” filter_source=”category” exclude_filter=”” paging_animation_in=”” paging_animation_out=”” el_id=”” btn_el_id=”” btn_custom_onclick_code=””][vc_column][vc_basic_grid post_type=”post” max_items=”4″ element_width=”3″ item=”masonryGrid_Default” grid_id=”vc_gid:1652735902885-8b2d03a8151b83bc8cde03c1771c35fd-4″ taxonomies=”128″ el_class=”practice-areas-feed” css=”.vc_custom_1561748636883{background-color: #ffffff !important;}”][/vc_column][/vc_row][vc_row padding_top=”0″ padding_bottom=”0″][vc_column][vc_column_text]

Planning Ahead

Estate tax issues are complicated and confusing, which is why too many people put off planning for them. Some people also mistakenly believe that there’s no point in planning for estate tax because they’re unavoidable, However, it is possible to minimize estate taxes through proper planning.

Don’t make those mistakes. Tackle estate tax planning now to save your loved ones from dealing with it when you’re gone, and to maximize their inheritance.

Ladimer Law can help. Estate tax laws are complex and our lawyers can help walk you through how these laws affect your estate. We’ll work with you to determine your taxable estate, and with a full picture of your assets, our attorneys can recommend tools to reduce or even eliminate your estate tax liability.[/vc_column_text][/vc_column][/vc_row][vc_row padding_top=”0″ padding_bottom=”0″][vc_column][vc_column_text]

Service Offerings: 

  • Credit Shelter Trusts
  • Irrevocable Life Insurance Trusts
  • Charitable Remainder Trusts
  • Gift Giving
  • Charitable Giving

[/vc_column_text][/vc_column][/vc_row]