| File: f8938.pdf |
| Title: IRS Form 8938 - Statement of Foreign Assets |
| Description: If you prepare Income Tax Returns, the IRS requires the taxpayer to disclose foreign accounts. This package includes Form 8938, which must be filed with the Income Tax Return. You will find elswhere on this page background on the filing requirement, a "Do I Need to File" page and the form instructions. |
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| File: HCP.pdf |
| Title: Massachusetts Health Care Proxy |
| Description: This is a free Massachusetts Health Care Proxy. It can be used by anyone who spends time in Massahusetts. This document appoints an agent to make medical decisions if you are unable to make medical decisions for yourself.
It is easy to complete. You type or print your name and address, then the name and address of the agent you are appointing. You should then list the successor or alternate agent (in case your first choice isn't available).
Next, find two witnesses. The witnesses should not be your agent or successor. Sign and date the back of the form where indicated in front of the two witnesses and have the witnesses sign and print their address. Finally, have your agent sign the form accepting the appointment as your health care agent.
You may give a copy to your agent, alternate and your primary care physician. It is also a good idea to bring a copy to the hospital with you any time you have in-patient or out-patient surgery.
It is advisable that you discuss your wishes with your agent before you fill in the form. Let your agent know your thoughts on the kind of care you desire and be sure that your agent is comfortable in acting as your agent. |
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| File: personal information questionaire.pdf |
| Title: Personal Family Informaion Worksheet |
| Description: We ask anyone coming in for a consultation to prepare this fomr ahead of time. This is a great form for reviewing your estate size and division. |
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| File: Special Needs Planning.pdf |
| Title: Special Needs Planning |
| Description: This important overview is the perfect starting point for parents and grandparents of those with special needs. The complex regulations surrounding eligibility for state and federal programs make proper planning in this arena a must. Leaving a "Special Needs" heir assets without proper planning can have a devasting impact. Yet too many have chosen to omit "Special Needs" heirs - potentially creating just as many problems if and when government funded programs are discontinued. |
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| File: Statement of Foreign Assets-Info & Instructions.pdf |
| Title: Statement of Foreign Assets - Info & Instructions |
| Description: If you prepare Income Tax Returns, the IRS requires the taxpayer to disclose foreign accounts. This package includes background on the filing requirement, a "Do I Need to File" page and the form instructions. You will find elswhere on this page Form 8938, which must be file with the Income Tax Return. |
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| File: Beacon Issue 12 - Tax Rate Extension.pdf |
| Title: The Beacon - Issue 12 - New Tax law |
| Description: On December 17, 2010 a new law was signed that makes major changes to Estate and Gift Tax Law. This issue of the Beacon gives a summary of some of the more important changes. |
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| File: Beacon Issue 10.pdf |
| Title: The Beacon - Issue 10 - Spring 2010 |
| Description: In this issue: Estate Taxes are repealed in 2010. Many pre-existing plans have problems because of repeal. You will learn what to look for and what to do. Also - declaring a "Homestead" on Trust owned property is now possible in Massachusetts. An article on page 2 gives an overview of this important development. Discussion of the planning needs brought about by the Health Care Reform legislation and the expiration of the Bush era tax cuts can also be found in this issue.
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| File: Beacon Issue 11 - Choosing a Trustee.pdf |
| Title: The Beacon - Issue 11 - Choosing a Trustee |
| Description: When setting up a trust one of the more important decisions you must make is "Who will be the Trustee?" This issue of the Beacon gives some insight on the considerations for when a corporate trustee should be used instead of a family member. |
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| File: Beacon Issue 4a.pdf |
| Title: The Beacon - Issue 4 - A Trust for Your IRA, 401(k), 403(b) or other Qualified Plan |
| Description: IRAs may represent the largest single asset your loved ones will inherit! But are your IRAs & company retirement plans properly protected? If not, your family could lose millions! This article explains how a new type of trust can: (1) Help protect your loved ones from losing your IRAs and company retirement plans to a divorce, lawsuit, creditors, or government claims! (2) Prevent your beneficiaries with poor money-management skills, or who are easily influenced by others, from blowing it all! (3) Assure that your beneficiaries take advantage of the maximum income tax “stretchout” and allow your IRA to compound income tax-free, possibly for generations (4) Pass your IRAs and company plans from your children to your grandchildren, estate tax-free! |
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| File: Beacon Issue 5.pdf |
| Title: The Beacon - Issue 5 |
| Description: This is the January 2008 edition of our newsletter. Entitled "Increase Your Income, Decrease Your Taxes with Charitable Remainder Annuity Trusts" the article explains the basics of CRT planning and how you can benefit from a CRT - even if you are not planning to leave assets to charity! |
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| File: Beacon Issue 6b.pdf |
| Title: The Beacon - Issue 6 - Personal Asset Trust |
| Description: Add more protection & flexibilty to your Living Trust by adding The Unique “Personal Asset Trust (TM)”. Instead of receiving their inheritance directly, each of your beneficiaries may instead receive their inheritance in a special trust, which springs out of your Living Trust. This continuing "Personal Asset Trust(TM)" (or "PAT") can be controlled by each beneficiary in such a manner as to virtually give him or her all of the same rights as ownership, without the liability exposures ownership brings. |
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| File: Beacon Issue 7.pdf |
| Title: The Beacon - Issue 7 - 2008 Estate Planning Year in Review |
| Description: New Techniques Give Wealth Creation Opportunities in a Down Economy. This issue focuses on four techniques that can result in a substantial increase in the amount of wealth inherited by your heirs. |
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| File: Beacon Issue 8 - Beneficiary Taxed Trusts.pdf |
| Title: The Beacon - Issue 8 - Beneficiary Taxed Trusts |
| Description: In this issue of the Beacon we discuss an extremely important technique that many plans are missing! The Beneficiary Taxed Trust gives huge opportunities to transfer wealth and avoid taxes. If you reside in a state that has no estate tax, but own real estate in another state that does have an estate tax, then this trust is often the perfect answer. For example, estate of Florida residents who own real estate in Massachusetts become subject to the MA estate tax. We have designed a special type of Beneficiary Taxed Trust that avoids the MA Estate Tax - savings families tens of thousands, sometime hundreds of thousands of dollars. Call us at (508) 775-7800 and download this Beacon to learn more. |
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| File: Beacon Issue 9.pdf |
| Title: The Beacon - Issue 9 - Thanksgiving 2009 |
| Description: This issue of the Beacon covers a myriad of important issues. Our trademarked "Massachusetts Estate Tax Avoidance Trust" is discussed. The article on our Irrevocable Life Insurance Trust discusses how life insurance proceeds can be protected from taxes and creditors and still be used by your spouse and children. Also discussed: choice of domicile, ways of gifting and how you can protect an inheritance before you receive it.
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| File: Beacon for Advisors Issue 1 - Carryover basis.pdf |
| Title: The Beacon for Advisors - Issue 1 - Carryover Basis in MA |
| Description: Under a proposed directive, Massachusetts Department of Revenue has announced that, for 2010 deaths, carryover basis is mandatory in Massachusetts for resident decedents (and the personalty and realty located in Massachusetts of non-resident decedents). Executors and their advisors now have until January 17, 2012 to file Form 8939 to allocate an increase in basis to a decedent’s assets. By filing a US Form 706, and thus failing to “opt-out” of Federal Estate Taxes for 2010 decedents, heirs will take a “stepped up” basis for Federal purposes, but an inherited basis without benefit of the permissible allocation of increased basis for Massachusetts Capital Gains Tax purposes.
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