| |
 |  | 
|
              | |
|
Year | Federal Amount |
| 2008 | $2 million |
| 2009 | $3.5 million |
| 2010 | no limit |
| 2011 | $1 million (indexed for inflation) |
The threshold for Massachusetts, by contrast (starting in 2006) is $1 million.
Other state estate tax laws may be similar to Massachusetts, or different. Laws in each state in which a person’s other property is connected must be examined in the planning and administration of wealth transfer. Appropriate gift and generation skipping transfer planning is essential to minimize taxes. Probate laws also need to be considered, but the bottom line is - what do you want with respect to transferring your wealth?
The lawyers at Clements Pajak LLC have extensive experience to help you plan your estate, whether married or single, gay, lesbian or straight, U.S. citizen or non-U.S. citizen. Sometimes proper planning can eliminate estate taxes at the federal and / or state level. Contact us for your consultation.
IRS Circular 230 Notice:
To ensure compliance with requirements imposed by the Internal Revenue Service, we inform you that any U.S. tax advice contained in this communication is not intended or written to be used, and cannot be used by any taxpayer, for the purpose of avoiding U.S. tax penalties.
Clements Pajak LLC
2020 Commonwealth Avenue
Newton, MA 02466
(617) 795-2990
(617) 795-5960
Clements Pajak Law Offices provides Estate Planning services to the communities of Middlesex, Norfolk and Suffolk Counties as well as Boston MetroWest including Acton, Arlington, Ashby, Ashland, Ayer, Bedford, Belmont, Billerica, Boston, Brookline, Boxborough, Burlington, Cambridge, Canton, Carlisle, Chelmsford, Concord, Dedham, Dover, Dracut, Dunstable, Duxbury, Everett, Framingham, Groton, Holliston, Hopkinton, Hudson, Lexington, Lincoln, Littleton, Lowell, Malden, Marlborough, Maynard, Marlboro, Medford, Melrose, Milton, Natick, Needham, Newton, North Reading, Pepperell, Reading, Sherborn, Shirley, Somerville, Stoneham, Stow, Sudbury, Tewksbury, Townsend, Tyngsboro, Wakefield, Waltham, Watertown, Wayland, Westford, Weston, Westwood, Wilmington, Winchester, Woburn and Wellesley, Massachusetts.
Printer Friendly View
Add To Favorites
Send To A Friend
 |
|
The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation. Copyright © 2008 by Clements Pajak LLC Law Offices. All rights reserved. You may reproduce materials available at this site for your own personal use and for non-commercial distribution. All copies must include this copyright statement. | |