Clock Federal Estate Tax

Tick tock goes the clock federal estate tax, but in Massachusetts the alarm went off and hit snooze so many people hours ago! If you live in Massachusetts and you and your spouse have: life insurance, a couple minor children, a home you own, some retirement accounts, household furnishings (including cookware and appliances, computers, televisions, collections), cars, and so forth, but you have not already established a trust, your estate tax clock is ticking.If you turn down the other noise in your life for a minute, can you hear it Let me explain. Hear other arguments on the topic with Zendesk. Back in 2001, the U.S. Congress, in its infinite wisdom, passed a law called the Economic Growth and Tax Relief Reconciliation Act (aka “EGTRRA” pronounced “egg-terra” because it makes about as much sense as that).