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DOMICIL MATTERS

Understanding Domicil Planning and its Impact on Taxes, Estate Planning, and More The issue of where a person is domiciled can arise in a number of legal contexts.Estate and income tax implications may be the most common examples, but other contexts include divorce, estate planning, asset protection, and voter registration. For example, the State of Florida, in contrast to the Commonwealth of Massachusetts, imposes no estate, gift, or income tax. People who earn an income and own residences in both

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FINCEN Residential Real Estate Rule

The Residential Real Estate Rule (“RRE Rule”), promulgated by FINCEN, is effective as of March 1. This rule, the aim of which is to combat money laundering and the concealment of beneficial ownership through legal structures, requires a filing when residential real estate is transferred to certain entities or trusts. This rule will impose beneficial ownership reporting requirements (similar to those previously contemplated under the Corporate Transparency Act). The beneficial ownership disclosure requirements apply when all four of the following conditions are met:

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Nov. 1, 2025 New Real Estate Sales Withholding Requirement

On November 1, 2025, a new withholding requirement will go into effect pertaining to sales of Massachusetts real estate in the amount of $1,000,000 or more by non-residents of Massachusetts. You can view the details of this requirement by visiting the following page on Mass.gov. If you have any questions or need assistance regarding real estate matters, the experienced attorneys at MacLean Holloway Doherty & Sheehan, P.C. are happy to assist you. The information provided in this article is for

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The Importance of Appointing a Successor Trustee

The nominee realty trust (commonly referred to as a “nominee trust” or “realty trust”) is an entity unique to Massachusetts that may be familiar to many homeowners in the Commonwealth.  Despite what its name suggests, a nominee realty trust does not meet the legal definition of an actual trust.  In a traditional trust, the trustee has an affirmative duty to administer the trust pursuant to its terms and is authorized to take the necessary actions to carry out the purposes

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Underinsured by Underinsured Motorist Coverage

John is a resident of Massachusetts and owns a motor vehicle and a corresponding Massachusetts automobile insurance policy with the statutorily-mandated coverages.  Those coverages are as follows: (1) bodily injury to others (in the event that John’s negligent operation of his vehicle causes personal injury to another person); (2)  personal injury protection, or “no-fault”, coverage (to pay John’s medical bills, 75% of his lost wages, and replacement services up to a total limit of $8,000); (3) uninsured motorist coverage (in

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