People often assume that if their estate isn’t taxable, they don’t need to have an estate plan. In 2024, a Massachusetts estate tax return must be filed if the value of the deceased person’s gross estate exceeds $2 million. A federal estate tax return must be filed if the value of the assets exceeds $13.61 million in 2024 (or $27.22 million per married couple.) The federal estate tax exemption will increase to $13.99 million in 2025 (or $27.98 million per married couple)….By: Bowditch & Dewey
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