Ask These 5 Questions Before Gifting Assets

Gifting assets can be a useful estate planning tool if you need to reduce your estate tax bill or for long-term care planning purposes. However, you need to be sure that your gift does not cause any unforeseen problems for you or the person receiving your gift. Here are five questions you should ask yourself…

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Medicaid Forces Insurance Spend Down

When speaking with groups about Medicaid (MassHealth) planning, I often get asked about life insurance policies and how they will be treated when applying for MassHealth benefits. Many people simply

Year End Gifting Strategies for Your Estate

Gifting and other estate tax reduction strategies have been at the forefront of many estate planning discussions as we approach the holidays due to the uncertainty over the estate and gift tax rules for next year. While current Federal estate and gift tax rates have been relatively favorable, much less favorable rules are set to…

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Using Gifts to Avoid Estate Taxes

Estate tax planning as part of an overall estate plan has been a hot-button issue lately for many families who are concerned that the federal estate tax exemption will be reduced from $5 million to $1 million as it’s scheduled to do on January 1st, 2013. That means that the federal and Massachusetts estate tax…

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