Title: 2017 – The Tax Cuts & Jobs Act – Highlights
Description: This 2 page overview by the Conference Committee provides a summary of the important changes implemented by the Tax Cuts & Jobs Act passed late in 2017. Check our Seminar Page to find our Seminar reviewing the important points of this law.
Title: Beacon Issue 2 – Estate Administration
Description: What should you do when someone you love dies? This issue of the Beacon reviews the estate and trust settlement process and gives you a list of the things you should gather if you are a successor trustee or an executor/personal representative.
Title: Estate Planning Seminars – Spring 2015
Description: Here is our Spring 2015 Seminar Schedule. Please join us for an informative session on what has changed and what techniques you should be adding to your estate plan.
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.
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.
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.
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.
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.
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.
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.
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.
Title: The Beacon – Issue 15 – Massachusetts Uniform Trust Code
Description: On July 8, 2012 Massachusetts adopted the Uniform Trust Code. This new law codifies Trust law in the Commonwealth of Massachusetts. The new Code gives families the opportunity to take advantage of several new changes which can make they trusts more flexible. This issue of our newsletter gives you the highlights of the law and the opportunities that now exist.
Title: The Beacon – Issue 18 – Will Your Estate Plan Go Over the Fiscal Cliff?
Description: The end of 2012 presents families with a once in a lifetime opportunity to avoid death tax. This issue of the Beacon discusses an important technique which allows a client to retain control of assets, get a stepped-up basis and eliminate significant estate taxes! Everyone with an estate over $1 million should read this issue!!
Title: The Beacon – Issue 19 – ATRA & Making State Estate Taxes Optional
Description: With the passage of the American Taxpayer Relief Act, we are entering a new era of estate planning. This issue of The Beacon describes some of the changes in the law and the significant impact the law will have on your estate plan.
Title: The Beacon – Issue 20 – Capital Gains Avoidance
Description: Under current income tax environment, planning for the method and the timing of capital gains recognition is more important than ever. There are several techniques that should be considered to minimize the negative tax impact of capital gains.
Title: The Beacon – Issue 26 – Top 30 Tax Planning Ideas
Description: The Internal Revenue Code is so complex it is virtually impossible for the average taxpayer to understand let alone find ways to minimize taxes. This issue of the Beacon will give you what we feel are the top 30 ideas to plan for lower taxes.
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!
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!
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™”. 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™” (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.
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.
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.
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.
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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