For Immediate Release:
February 27, 2023
413 387 0080
OLD COLONY LAW RELEASES THE FOLLOWING STATEMENT IN RESPONSE TO GOVERNOR HEALEY’S ESTATE TAX PROPOSAL
“Today, Governor Healey announced that the tax relief package she will be submitting to the legislature later this week incorporates a proposal to eliminate the estate tax on all estates valued at up to $3 million. Current law exempts estates under $1 million from estate tax.
The current Massachusetts estate tax scheme, which was established over two decades ago, has become outdated to the point where it impacts the estates and families of those who were not intended to be caught in the estate tax crosshairs in the first place.
On behalf of our clients, we thank Governor Healey for incorporating this important measure into her tax relief package, and urge the legislature to similarly support lifting the estate tax threshold.”
Old Colony Law is located in Hadley, and provides estate planning and asset protection services in Western Massachusetts. For more information, please visit OldColonyLaw.com.
This post is a part of Old Colony Law’s Estate Tax Updates.