Massachusetts estate planning mistakes can cost families thousands in unnecessary taxes and legal fees. Smart people with good intentions often use outdated wills, miss the state's $2 million estate tax threshold, or rely on generic online documents that don't meet Massachusetts requirements.
Common oversights include forgotten beneficiary designations, problematic joint accounts, and missing incapacity planning. Even recent estate plans may have gaps due to changing state laws. Professional review can prevent expensive disasters.
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The Massachusetts Estate Planning Tax Trap
Massachusetts has one of the lowest estate tax thresholds in the nation at just $2 million, catching many middle-class families off guard. While the federal estate tax doesn't kick in until $15 million, Massachusetts starts taxing at a much lower level that many residents accidentally cross. A modest home in Newton or Lexington, combined with retirement accounts and life insurance, can easily push an estate over this threshold. Smart families who thought they were "just getting by" suddenly face estate tax bills ranging from thousands to tens of thousands of dollars - money that could have stayed with their children with proper planning.