Date: Tue, 13 Apr 2004 04:01:53 CST
From: "BMS" 
Newsgroups: misc.invest.financial-plan
Subject: Re: Capital Gains Taxes On 60K Condo Sale ??
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	adfGlClQJtlLjxWszNWWsm/IV0ajTDJKeZWDC+AQTRhhG5m2Cq4gAg==
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Massachusetts re-established its estate tax and the levels are lower than
the federal.

Also it is the value of the estate that decides, not the item count.

Express probate, 12 items or fewer?  ;)


"Caroline"  wrote in message
news:Tdfec.5144$k05.4181@newsread2.news.pas.earthlink.net...
>
> "BMS"  wrote
> > Given what state your in, this is going to probate.
>
> I hope no one else took my "it should fly through the probate system" to
mean
> the guy's (or his wife's) will etc. was exempt from the probate system.
>
> My point was that the fewer the items in the estate, the easier it is for
the
> executor to complete the necessary forms, dissolve assets, pay debts, etc.
per
> any directions in the will.
>
> > For example in Massachusetts, simple probate ends at 15k. The state
death
> > tax is back and the limits are lower. Getting proper documents from an
> > experienced estate attorney will probably cost in the $1500-1800 range.
> >
> > In Massachusetts there is language for the special needs trust that may
be
> > relevant.
> >
> > This is the problem when you are looking for a generic answer to a
question
> > that has at least 51 different twists.
>
> The guy wanted some guidance. It would be stupid not to ask before he goes
into
> see the lawyer. (Or, I dunno, he might be completing a do-it-yourself
will.
> Which works fine for small estates as long as the executor knows something
about
> being an executor.)
>
> Plus, the bigger concern is federal tax law (estate tax and capital gains
taxes,
> if any). State law affects mostly the procedure for filing probate papers.
>