Category: News

What is “In Terrorem,” you ask?

Trust and estate planning, administration, and related litigation are all major focuses of our firm’s practice.  We have had the pleasure of representing thousands of clients in all aspects of those areas.  At all times we endeavor to advise our clients so as to attempt to avoid litigation.  However, sometimes litigation is simply unavoidable. Very recently our office was successful in obtaining a judgment in favor of our client, the personal representative of his uncle’s estate, after a five-day trial

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Estate Planning Update – Estate Recovery Alert

Governor Baker’s Fiscal Year 2017 budget includes a proposal that would allow Mass Health estate recovery from non-probate assets.  The current law defines an “estate” against which recovery can be made as “all real and personal property and other assets includable in the decedent’s probate estate under the General Laws”.  Governor Baker’s proposal would apply to individuals who become eligible after July 1, 2016 and seeks to define such estate as: any interest in real and personal property and other

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Tax Update – Fiscal Year 2015 Budget Proposals

Special Report Obama Emphasizes Individuals, Targets Business Tax Incentives In FY 2015 Budget President Obama renewed his call for expanding child, family and education tax credits in his fiscal year (FY) 2015 budget proposals as well as for curbing some tax preferences for higher income individuals and businesses. The President unveiled his $3.9 trillion FY 2015 budget proposals on March 4. Many of the proposals are familiar from past budgets, but for FY 2015 the White House is placing special

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2014 First-Quarter Important Federal Tax Developments

During the first quarter of 2014, there were many important federal tax developments. This letter highlights some of the more significant developments for you. As always, contact our office if you have any questions. Tax reform  In February, House Ways and Means Chair Dave Camp, R-Mich., unveiled a massive tax reform bill. Camp proposed to overhaul the Tax Code by reducing the number of individual tax brackets, lowering the corporate tax rate, and eliminating or modifying many popular tax incentives.

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Tax Update – Fiscal Cliff

Congress passed legislation, which President Obama indicated he would sign, to avoid the fiscal cliff.  The legislation would allow tax rates to rise on the nation’s highest earners while also extending dozens of tax cuts for individuals and businesses. Specifically, the bill: Raises the top tax rate to 39.6% for married couples earning $450,000; single taxpayers earning $400,000.  These amounts will be indexed for inflation. Raises long-term capital gains and qualifying dividends tax rate to 20% (from 15%) for taxpayers in

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