Tax Strategies

One of the advantages of using trusts in your estate plan is tax mitigation. While trusts are well-known to help reduce estate taxes, they are also becoming increasingly more common for income [...]

As with any election, there is the potential for significant impact on estate and gift taxes. Under the Tax Cuts and Jobs Act of 2017, the federal exemption from gift and estate tax rose to [...]

Significant legislation concerning the treatment of retirement accounts called the SECURE Act became law on January 1, 2020. Among other effects, this eliminates the lifetime stretch for [...]

On January 16th, I sat down with Massachusetts State Rep., Shawn Dooley, to talk about the commonwealth’s estate tax reform and his innovative bill. Dooley is the lead sponsor of a bill (H.2446) [...]

The irrevocable life insurance trust (or “ILIT”), as its name suggests, is irrevocable. It cannot be rescinded, amended, or modified in any way by the “grantor” after its creation. Once the [...]