On October 4, 2023, Massachusetts increased its $1,000,000 estate tax exemption to $2,000,000 per decedent. The new law was retroactive for decedents who died on or after January 1, 2023. Massachusetts, however, did not adopt portability. A number of questions remain which will be addressed during this program, including how to handle non-residents who own property in Massachusetts, residents of Massachusetts who own real estate in other states, the use of Massachusetts QTIP only trusts, and domicile issues as well as how to release the Massachusetts estate tax lien. This updated cutting-edge program examines the new law, how to compute the Massachusetts estate tax, filing requirements, domicile, Massachusetts real estate and non-Massachusetts real estate as well as planning opportunities.
Course Content
12:00-12:05 pm - IntroductionLeo J. Cushing, Esq.,
Cushing & Dolan, PC, Waltham
12:05 - 12:20 pm - Review of the New Law’s Language, Which Focuses on the Determination of Federal Gross Estate and the Computation of the State Estate Death Tax Exemption/Credit
Leo J. Cushing, Esq.,
Cushing & Dolan, PC, Waltham
12:20 - 12:24 pm - The Problem with Lack of Portability and the Estate Tax Cost of Failing to Plan for Married Couples
Leo J. Cushing, Esq.,
Cushing & Dolan, PC, Waltham
12:24 - 12:30 pm - MA Estate Tax Exemption: Did the Filing Threshold Change?
Leo J. Cushing, Esq.,
Cushing & Dolan, PC, Waltham
12:30 - 12:35 pm - MA Estate Tax: How to Handle Out-of-State Real Estate Owned by a Massachusetts Resident
The case of F. Davis Dassori, in his capacity as personal representative of the Estate of Anita D. Curtis v. Commissioner of Revenue, Docket No. MI-14E00-42GC (Middlesex Probate and Family Court June 30, 2016)
Leo J. Cushing, Esq.,
Cushing & Dolan, PC, Waltham
12:35 - 12:45 pm - MA Estate Tax: How to Handle Non-Residents Who Own Massachusetts Real Estate by Using a Limited Liability Company
Leo J. Cushing, Esq.,
Cushing & Dolan, PC, Waltham
12:45-12:55 pm - MA Estate Tax Exemption: Planning with QTIP Trusts
Leo J. Cushing, Esq.,
Cushing & Dolan, PC, Waltham
12:55 - 1:00 pm - 'Ask the Experts' Q&A Session and Key Takeaways
Speaker(s)
ChairLeo J. Cushing, Esq.,
Cushing & Dolan, PC, Waltham
