Mass Estate Tax on Non-Mass Real Estate

Historically, Massachusetts has subjected real estate located in a state with no estate tax (Florida, etc.) to estate tax in a Massachusetts.

Based on a recent court decision, however, this appears about to change; and this can result in substantial estate tax savings.

This is welcome news, as it clears up what was somewhat ambiguous. And, in so declaring, the court seems to have acknowledged that a Massachusetts resident who titles non-Mass real estate in a partnership or LLC (for example, for management and/or asset protection purposes) appears to convert real estate - for estate tax purposes - to taxable intangible personal property, which then would be subject to Massachusetts estate tax.

The uptake? Plan, Plan, Plan.

This blog is not intended to constitute, and does not constitute, legal advise to anyone or any specific situation. See also our legal notices.