Estate Planning Case Study: Maximizing Estate Tax Exemptions
Client BackgroundMeet the Davis family, consisting of John, Mary, and their three children. Their assets included a jointly owned home with $400,000 in equity, $150,000 in investments, John's $270,000 401(k), Mary's 401(k), and life insurance policies totaling $300,000. While these assets, when the joint interests were divided, kept each of them just below the Massachusetts estate tax threshold, a recent inheritance had significantly increased their net worth, putting them well above it. In addition, they held business interests in an S Corporation, whose valuation was unclear.
Estate Planning Solutions
ConclusionThe Davis family's estate planning journey demonstrates the importance of proactive measures to preserve wealth and minimize estate tax burdens. Through careful consideration and personalized solutions, we assisted them in achieving peace of mind, knowing that their legacy would endure and provide for generations to come.
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Meet Our Estate Planning Lawyers
Emily Smith-Lee is the owner and founder of slnlaw. She is a 1996 graduate of Boston College Law School. She was previously a partner at the Boston office of a large international firm, where she worked for thirteen years before starting the firm that became slnlaw in 2009. She has been recognized as Massachusetts Superlawyer each year since 2013, and in 2018 earned recognition as one of Massachusetts Lawyers Weekly's Lawyers of the Year.
Jenna Ordway: Jenna is a 2013 graduate of Quinnipiac Law School, and also earned an LLM in Taxation from Boston University in 2015. She has been affiliated with slnlaw since 2011, first as a law clerk and then as an attorney. Jenna has been recognized since 2019 as a "Rising Star" by Massachusetts Superlawyers. Jenna wrote a book on estate planning: The Road to Peace of Mind: What You Need to Know About Estate Planning. Jenna has helped many individuals and families with planning to protect their legacies and loved ones, and planning for the future and succession of their businesses.
Sharleen Tinnin: Sharleen is a 2010 graduate of Northeastern University School of Law, and earned her LLM in estate planning from Western New England Scool of Law in 2016. She has been with slnlaw since 2023. Prior to joining slnlaw, she worked with King, Tilden, McEttrick & Brink, P.C. on complex civil litigation matters. She previously worked for the United States Department of Justice, and received an "Excellence in Justice" award in 2017. Sharleen has helped many clients with planning for their legacies and their future, and navigating the probate process in Massachusetts after the death of a loved one.
How We Can Help
Our estate planning solutions are tailored to your unique needs, just like we did for the Davisfamily. We can help you maximize your wealth and minimize estate tax liabilities, ensuring peace of mind and financial security for generations to come. You can use the button below to schedule a call back from a member of our team, or give us a call at 781-784-2322.
Jenna Ordway
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