While it can make sense for a will to direct that all estate property be sold and the proceeds distributed, it can also result in higher capital gains taxes for the beneficiaries.
The Massachusetts legislature is poised to increase the estate tax threshold from $1 million to $2 million.
In his New York Times Magazine “Ethicist” column, the philosopher Kwame Anthony Appiah responded to a query from an individual who had inherited a large trust fund and family business when his father died. This person felt uncomfortable with such wealth and largely lived his life as if he were not rich. But a combination of the recent stock market rise pumping up his portfolio and his recognition of the suffering of many people during the pandemic have brought him to the conclusion he should give away a large portion of his wealth.
company purportedly named “Property Site” suggesting that they obtain “their Property Assessment Profile which includes a complimentary copy of your current Grant Deed or other record of title” for $98. (Both the bold and the mixing third and second persons in the original.)
A federal bankruptcy case, finds that the debtor’s property qualified as his home for homestead protection purposes.
Almost no estates pay federal estate tax, but those in MA can avoid/minimize by credit shelter planning. Margolis & Bloom, Wellesley and Boston, MA, 02481