Dear Subscriber:
Thank you for choosing to stay current in trust drafting practice with this 2023 edition of
Drafting Irrevocable Trusts in Massachusetts
.
Inside, you will find new material on topics such as the following:
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Federal estate tax (based on different years of death, after applying the applicable credit and deduction for Massachusetts estate taxes paid). See chapter 1 for an updated chart.
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Cumulative hanging
Crummey
power. Chapter 1 offers an updated chart showing data applicable up to the year 2047.
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Distributable net income. See chapter 3 for new discussion of strategies regarding distributable net income, including a note about an alternative theory for including gains from a pass-through entity.
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Closely-held business interests. See chapter 5 for sample language pertinent to "Powers to Operate a Business Interest Held in an Estate or Trust".
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Administrative provisions. See chapter 12 for updated language, including expanded powers of the trustee and new notice provisions and Schedule A of a sample Massachusetts inter vivos trust.
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Foreign trusts. See chapter 13 for a substantive new practice note that advises the reader on the question as to whether, if a trust is administered partly or solely abroad, a U.S. court could still "determine substantially all issues regarding the trust's administration," as required by an established court test.
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Supplemental needs trusts. See chapter 7 for a revised exhibit that contains model language for a typical supplemental needs trust. The exhibits for chapter 7 also contain new language for a d(4)(A) trust provision.
We at MCLE trust that you will find this updated material useful in your practice and valuable in keeping your estate planning law library current.
Cordially,
Maryanne G. Jensen, Esq.,
MCLE Director of Publications
