Using Trusts to Reduce Massachusetts Estate Taxes for Married Couples
Massachusetts has one of the lowest estate tax thresholds in the United States. If you pass away owning assets worth more than $1,000,000, your estate will likely owe Massachusetts estate tax. To make matters worse, the Massachusetts estate tax is a cliff tax, which means that if your estate value exceeds $1,000,000, your estate will pay tax on the entire value, not on just the amount over $1,000,000.
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by: Gina M. Barry
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