Estate Planning for Property in Multiple States

Property in multiple states may present special challenges
  • Each state has its own laws concerning probate, inheritance, and taxation of decedents.
  • Rights affected include the right of a surviving spouse to take a certain share of the deceased spouse's estate, homestead rights, etcetera.
  • Distribution of property in the absence of a will can also vary from state to state.
  • Some states, such as New Hampshire, do not presently have an estate tax. Massachusetts has an estate tax, but no inheritance tax. Maryland has both an estate tax and an inheritance tax.
  • The "domicile" or permanent home of a person may determine which state, if any, taxes a decedent's "personal property" such as furniture, collections, automobiles, stocks, bonds, life insurance, and retirement accounts.
  • Regardless of where a decedent was domiciled, if the decedent's assets exceed a certain threshold (commonly $1,000,000), real property in a state with an estate tax may likely be taxed.
  • We can provide rough calculations on the anticipated estate taxes, with the caveat that state and federal tax laws will change.
  • We can assist you in estate planning involving certain states, and bring in attorneys licensed in other states if necessary.

  • Home | Planning for Different Ages | Planning for Incapacity | Couples with Children | Death and Taxes | Same Sex or Unmarried Couples | Business Succession Planning | Life Insurance | Residences and Real Estate Assets | Estate Planning for Two States | Charitable Options | A Selection of Frequently-Asked Questions
    For More Information:
    Law Offices of Jameson & Cooper
    8 Grove Street, Suite 205
    Wellesley, Massachusetts 02482
    Tel.: (781) 237-7766