Estate Tax Return Preparation (M-706/706) Considerations and Pitfalls (part 2)

Advanced walkthrough of the Federal and Massachusetts Estate tax returns with a particular focus on QTIP elections (interplay between Federal and MA election), portability and other elections to consider upon the 1st spouse to pass.  Lifetime gifting considerations to eliminate or reduce Massachusetts Estate Tax. Recent developments, including a walk thru of the new Massachusetts Estate Tax law including the 2 million dollar exemption amount and its impact on the cliff rule as well as instate and out of state property and finally a discussion of the Shaffer case with regards to a Mass QTIP exclusion on the second death along with the recent legislation MASS  H 4799 passed 9-16 and effective 9-24 settling this issue(Considerations for potentially amending prior returns for taxes unnecessarily paid) and so much more.