When one spouse passes, no estate tax is required to be paid to either the federal government or the Commonwealth of Massachusetts. This exception is called the “Unlimited Marital Deduction” …
Estate Planning Blog
Estate Tax and Marriage
The Facts about Death Taxes
Federal and State Death Taxes – and Exemptions After your death, your family may be liable for federal estate tax and state inheritance tax. These taxes are in addition to …
A Living Trust and Death Probate
A Living Trust is an excellent way to avoid the probate process, whether you’re still alive or have passed away. In a Living Trust you’ll transfer the title for all …
Joint Tenancy and Death Probate
There are cases in which Joint Tenancy can help avoiding Death Probate. For example, if one person in a married couple dies, anything they owned in joint tenancy passes automatically …
Problems with Probate
Probate is Lengthy and Time-Consuming Probate can be a very long and arduous process for your family. It usually takes at least eighteen months to complete; in some cases, probate …
More Disadvantages of Death Probate
Death Probate has several other serious disadvantages: Your family loses control of your estate and cannot sell assets, or use estate cash to purchase assets, without the court’s permission. Opportunities …
The High Cost of Death Probate
According to a recent national survey, the average cost of Death Probate is typically between five and ten percent of an estate’s gross value. Of that amount, around 60% goes …
Disadvantages of Death Probate
Death Probate is the court process of distributing and managing an estate after your death. Even if you have a written will, it must go through the probate process. Debts …
A Living Trust and Living Probate
A Living Trust, if well written, can help you avoid the expense and lengthy process of Living Probate. There is a section in the Living Trust that lays out exactly …
Avoiding Living Probate
Probate court isn’t just for processing wills after death. If you become mentally disabled and can no longer make decisions about your own care (and how to pay for it), …