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Trump Tax Reform

Death of the Federal Estate Tax?

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Fegreus & Broderick, LLP

21 Custom House Street, Suite 480
Boston, Massachusetts 02110
t: (617) 737-9100 | f: (617) 737-9123
info@fegreuslaw.com

Many people wonder if creating a living trust comp Many people wonder if creating a living trust complicates their finances. 

The Grantor maintains full control over the trust during their lifetime, with the ability to change, add to, or even dissolve it at any time. 

The Grantor often serves as his or her own Trustee as well, at least initially. Consequently, the DOR and the IRS treat the trust as simply the alter ego of the Grantor and pay no attention to it. 

The trust’s tax ID can simply be the Grantor’s SSN and the trust does not file or pay its own taxes. It is only upon the death of the Grantor that the trust becomes irrevocable and takes on a legal identity (and therefore tax ID) of its own.

For most clients, then, the only difference in their day-to-day experience is that for accounts transferred into the trust, the word “Trustee” will appear next to the Grantor-Trustee’s name on statements and checks.
The approach to estate planning for cryptocurrency The approach to estate planning for cryptocurrency assets is evolving and unsettled.

Unlike traditional assets, some crypto platforms allow non-probate transfers through beneficiary designations, while others require a Personal Representative to manage the estate through probate. 

Others still act like physical cash, where “possession is nine-tenths of the law” (well, not really, but you get the point) and the P.R. or heirs, without physical possession of the codes or encrypted keys, may never recover the assets, to the great benefit of whoever does find them, like a roommate of the deceased who may never be heard from again…
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