Many Massachusetts families face unexpected estate taxes without realizing it. While federal estate tax starts at $15 million, Massachusetts taxes estates over just $2 million. A Newton couple with an $850,000 house, $1.4 million in retirement accounts, and $500,000 life insurance suddenly owes $56,000 in estate taxes.
This comprehensive guide reveals who's at risk, how to calculate your exposure, and proven strategies to reduce or eliminate estate taxes through annual gifting, spousal planning, life insurance trusts, and other techniques.
Written specifically for Massachusetts middle-class families who never thought they'd need estate tax planning.