|Estate Planning and Administration||| Print ||
The firm has broad experience in the areas of estate planning and taxation and probate and trust administration. We can prepare efficient and cost effective estate plans serving the needs of those with modest, non-taxable estates, typically including wills, health care proxies, living wills, durable powers of attorney and homestead declarations. We also represent individuals with accumulated wealth by utilizing various, multiple-revocable trust techniques to obtain maximum use of federal and Massachusetts estate tax exclusions. In addition, to assist with estate's needs for liquidity to pay estate taxes on real estate, closely held businesses or other illiquid assets, we prepare irrevocable trust agreements for the holding of life insurance policies utilizing the annual exclusion from taxable gifts as a premium payment device. We advise individuals, limited liability company members and close corporation shareholders in connection with business formation, succession techniques and estate planning for business interests.
We have extensive experience in the preparation of federal and Massachusetts estate tax returns as well as federal and Massachusetts trust and estate fiduciary income tax returns. We work with the Internal Revenue Service and the Massachusetts Department of Revenue to obtain estate tax closing letters for those estate subject to estate taxes.
We also assist clients through the process of probate and trust administration in Massachusetts courts, including the obtaining of the appointment of executors, administrators, and trustees, obtaining any required sureties on fiduciary bonds, and preparing the accounts necessary to document estate transactions and close the estate. We advise trustees and beneficiaries in connection with the formation, operation and termination of trusts.