by amanda | Uncategorized
Divorce can be a challenging and emotionally draining experience, leaving individuals with numerous legal and personal matters to resolve. Amidst all the turmoil, it is vital for people to understand the significance of updating beneficiaries on various accounts and...
by amanda | Uncategorized
In a unanimous decision filed Monday, November 20, 2023, the Minnesota Court of Appeals affirmed a district court opinion that limits medical assistance claims against estates to only the amount of long-term-care services that were actually provided to the...
by amanda | Uncategorized
Charitable gifts offer a great opportunity to reduce income tax liability. When a taxpayer makes a charitable contribution, typically they get an offsetting charitable income tax deduction. Unfortunately, that offsetting deduction doesn’t always end up reducing...
by amanda | Uncategorized
As its name implies, a purpose trust is a type of trust that you create and establish for a specific purpose. Unlike traditional trusts, which operate to benefit identifiable individuals or entities, purpose trusts exist to fulfill a particular goal without the...
by amanda | Uncategorized
Most folks know that the federal government imposes an estate tax on estates with total assets that exceed $12.92 million in 2023. The Internal Revenue Code (“Code”) Section 2010 calls that amount the “Applicable Exclusion Amount”...
by amanda | Uncategorized
Massachusetts Estate Tax: For decedents dying on or after January 1, 2023, there is no Massachusetts estate tax for an estate under $2,000,000. The law does not adjust the filing threshold so state tax returns may still be required for all estates at or above...
