ATTORNEYS PRACTICE AREAS NEWS ABOUT CONTACT NEWSLETTERS Home > Newsletters JANUARY 2020 NEWSLETTER THE SECURE ACT We write to share a recent change in the law governing retirement plans as of January 1, 2020. If you have one or more retirement plans (e.g. 401(k)s or IRAs), this change could impact your estate plan. READ MORE KEY ESTATE AND GIFT TAX NUMBERS FOR 2020 The IRS has issued updated exemption amounts for estate and gift taxes for the 2020 calendar year. READ MORE READY TO DISCUSS YOUR FUTURE? Our legal associates are ready to help you plan. CONTACT US PAST ISSUES SOME CAUTIONARY CELEBRITY TALES; WHY CAREFUL ESTATE PLANING IS IMPORTANT Even celebrities die without wills. Picasso’s unplanned estate paid an extra $30 million in taxes. Prince’s $300 million estate faced unnecessary significant taxes and disputes, with false claims by alleged heirs, including a convicted felon. READ MORE PREPLANNING FUNERAL ARRANGEMENTS If you have wishes regarding your funeral services or burial arrangements, there are various ways to make such wishes known. READ MORE WHAT’S IN A NAME? NON-PROBATE PROPERTY AND ESTATE PLANNING As part of the estate planning process, it is important to distinguish between so-called “probate” assets and “non-probate” assets because your Will only controls the disposition of your probate assets. READ MORE ESTATE PLANNING = PEACE OF MIND The emotional and financial costs of fixing problems when someone has failed to plan greatly exceed any such costs addressing issues up front in an estate plan. READ MORE NON-TAX REASONS FOR ESTATE PLANNING While estate tax minimization continues to be an important estate planning goal for Massachusetts residents, there are many “non-tax” reasons to regularly review and update your estate plan as well. READ MORE THE TROUBLE WITH JOINT ACCOUNTS Adult children commonly help their parents with bills, and are often added on financial accounts as joint owners to enable this help. While this may seem like a good idea, it is fraught with problems. READ MORE SPRING 2018 Federal Estate Tax Changes Health Care Planning READ MORE FALL 2017 Using Trusts to Protect Family Assests IRA Charitable Rollover READ MORE SUMMER 2017 Estate Tax Uncertainty What is a MOLST? READ MORE FALL 2016 Valuation Discounts in Jeopardy? Once You’re Eighteen, You Need an Estate Plan READ MORE SPRING 2016 How GRATs Work IRA Charitable Rollover READ MORE NEWS Newsletters Publications GILMORE REES & CARLSON Gilmore Rees & Carlson is home to one of the largest trust and estate departments in New England. In addition to this core practice, we offer accomplished real estate and litigation practices. PRACTICE AREAS Wills, Trusts & Estates Probate & Fiduciary Litigation Real Estate Legal Services NEWS The Secure Act Key Estate And Gift Tax Numbers For 2020 Some Cautionary Celebrity Tales; Why Careful Estate Planing Is Important Preplanning Funeral Arrangements CONTACT US Gilmore Rees & Carlson 70 Walnut Street Wellesley Hills, MA 02481 (781) 431-9788 Copyright © 2021, Gilmore Rees & Carlson PC