Massachusetts may soon increase its estate tax threshold. Meanwhile, unless Congress acts before the end of 2025, the federal estate tax exemption is set to decrease.
What does this era ESTATE TAX LAW UNCERTAINTY mean for estate planning NOW?
– Old Colony Law incorporates estate tax minimization techniques into the wills and trusts we craft.
– Estate tax planning can provide flexibility to adapt to this fluid legal environment and future changes to the estate tax law.
– Please feel welcome to contact us to see if we can help you minimize the tax that will be imposed on your estate.
Estate Tax Updates
News – Information – Analysis
- Estate Tax News – Report: Mass. outward migration increases fourfoldThe Eagle-Tribune covers a report from The Pioneer Institute, entitled “Tax Reality Sets In,” citing the Massachusetts estate tax as a reason for outward migration:Continue reading “Estate Tax News – Report: Mass. outward migration increases fourfold”
- Estate Tax News – Capital gains, estate tax cuts could be on chopping block in Massachusetts relief debateMASSterList reports on the estate tax relief discussions happening in the Massachusetts legislature amid recent reports of state tax revenue dropping last month: Will theContinue reading “Estate Tax News – Capital gains, estate tax cuts could be on chopping block in Massachusetts relief debate”
- Estate Tax News – Raise Up Massachusetts sent a letter to the entire Senate yesterdayFrom Politico Massachusetts: Raise Up Massachusetts sent a letter to the entire Senate yesterday doubling down on its argument that April’s revenue shortfall, combined withContinue reading “Estate Tax News – Raise Up Massachusetts sent a letter to the entire Senate yesterday”
- Comparing the Healey Administration and House estate tax relief proposalsHere’s a side-by-side of the two major Massachusetts estate tax relief proposals that are currently on the table. A Senate version is expected to surfaceContinue reading “Comparing the Healey Administration and House estate tax relief proposals”
- Estate Tax News – Democrats’ tax danceAdding to yesterday’s coverage of the House tax relief plan, here is a comment from Politico: And the House is only seeking to raise theContinue reading “Estate Tax News – Democrats’ tax dance”
- Estate Tax News – Miscellaneous reaction to House tax relief planThe House just released its much anticipated tax relief package. Below are some links to some media coverage and snippets from that coverage relating toContinue reading “Estate Tax News – Miscellaneous reaction to House tax relief plan”
- Estate Tax News – House tax plan builds on Healey approachCommonWealth Magazine compares the Massachusetts House’s tax relief plan with the proposal the Healey Administration announced in late February: The House estate tax proposal raisesContinue reading “Estate Tax News – House tax plan builds on Healey approach”
- Estate Tax News – Big week on Beacon HillPolitico reports on a new UMass Amherst/WCVB poll: [O]nly 48 percent of respondents support raising the estate-tax threshold to $3 million from $1 million, whileContinue reading “Estate Tax News – Big week on Beacon Hill”
- Estate Tax News – There’s lots of talk about millionaires leaving Massachusetts. But will they?Boston Globe with reaction from Massachusetts residents on the current tax climate. Although not the primary topic of discussion, the Massachusetts estate tax is invokedContinue reading “Estate Tax News – There’s lots of talk about millionaires leaving Massachusetts. But will they?”
- Estate Tax News – Exodus of wealthy residents called non-existentCommonWealth Magazine reports on a report issued by the Massachusetts Budget and Policy Center, which suggests that “the business community narrative that millionaires are fleeingContinue reading “Estate Tax News – Exodus of wealthy residents called non-existent”