(Below is an article about last minute planning considerations in light of the new tax act written by my colleague Andreea Olteanu, JD of WealthCounsel.) With 2017 coming to an end and sweeping tax reform legislation (Act) having been signed into law, some last-minute opportunities should be considered while the current law still applies. There are steps that taxpayers can take before the Act takes…
Have You Considered a Dynasty Trust for Your Family’s Estate?
Why You Should Think Twice Before Ruling One Out When most people hear the term “dynasty trust,” they assume it’s something for only the wealthiest of families. However, dynasty trusts are not as out of reach as you might think, and can be used by many more families of a greater wealth spectrum than currently use them. Demystifying dynasty trusts Dynasty trusts keep your wealth…
How to Pick a Trustee, Executor, and Agent Under a Power of Attorney
While the term fiduciary is a legal term with a long history, it very generally means someone who is legally obligated to act in another person’s best interests. Trustees, executors, and agents are all examples of fiduciaries. When you pick trustees, executors, and agents in your estate plan, you’re picking one or more people to make decisions in your and your beneficiaries’ best interests and…
ATTORNEY PAUL BERNSTEIN RECEIVES BOARD-CERTIFICATION AS AN ESTATE PLANNING LAW SPECIALIST
Attorney Paul Bernstein is newly Board-certified as an Estate Planning Law Specialist (EPLS) by the Estate Planning Law Specialist Board, Inc., the only such certification accredited by the American Bar Association. Attorney Bernstein joins a select group of 75 attorneys nationwide, and is one of only two in Massachusetts, to have obtained the EPLS Board-certification. To become Board-certified as an Estate Planning Law Specialist (ELPS),…
National Estate Planning Awareness Week, October 17-23, 2011
The Bernstein Law Group Joins Colleagues in Promoting National Estate Planning Awareness Week, October 17-23, 2011 Salem, MA, Oct. 18, 2011 – Paul Bernstein, Esq. of the Bernstein Law Group announced today that he is joining his estate planning colleagues in a public relations campaign to showcase National Estate Planning Awareness Week, October 17-23, 2011. According to a 2010 industry trends survey of estate planners,…
2010 – A Good Year to Die – Not So Fast
Dear Colleagues, The Massachusetts Department of Revenue has issued a working draft directive on the issue of deaths occurring in 2010. This directive, if it becomes the rule, may cause a double tax on many 2010 estates. BRIEF BACKGROUND As many of us know, the federal Tax Act of 2010 became law at the very end of last year. Prior to the passage of the…