Estate Law
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Answered in 33 minutes by:
8/17/2019
Irwin Law, Attorney
Category: Estate Law
Satisfied Customers: 8,033
Experience: 30+ yrs. handling probate estate, wills, trust, inheritance & real estate related matters
VerifiedCan you clarify this. Because I read that if it over 1 million in Massachusetts it’s all taxed not just what is over the 1 million exemption what do yo know about this.?
That appears to be a correct statement of MA estate tax law, i.e. it is based on the entire estate and not just the amount over $1 mil. A chart can be found on this blog. https://smartasset.com/estate-planning/massachusetts-estate-tax This would indicate an MA estate tax of $40,400 on a $1.2 million estate. against that there may be, deductions, exemptions, exclusions, or credits, so it is always prudent to check out online information with local experts in the field. I hope that this information is helpful in your situation.
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