Monthly Archives: January 2011

No Contest Clauses (in terrorem clauses)

In Massachusetts, a no-contest clause is given full force and effect.  Therefore, if the settlor so chooses, a clause can be included in a will to disinherit an heir who attempts to challenge the will’s provisions.  But be aware: if … Continue reading

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Portability Under the New Estate Tax Law

As many of you know, new tax legislation will be taking effect on January 1, 2011. Among other things, the new law raises the estate tax exemption to $5 million per individual and $10 million for a married couple. Continue reading

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Plan to Pay more Estate Taxes and it Might Pay Off

Under the 2010 law, there was a modified carryover basis. With a carryover basis, inherited assets are transferred to heirs with a tax basis equal to the original cost of the property. Continue reading

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