What is an estate freeze and how does it work?

An estate freeze is a legal tool used in estate planning that allows you to freeze the value of certain assets at a certain level. This can be used to minimize estate taxes due or to transfer wealth to future generations without incurring any additional tax liabilities. In Massachusetts, an estate freeze works by freezing the value of certain assets at a certain level. The assets and their values are then transferred to a trust or life insurance policy. These assets are then held in the trust or life insurance policy for the benefit of the family through generations without any additional tax liabilities. The estate freeze allows you to maintain control of the assets while transferring them to heirs at a lower cost. You can also choose the level of taxes due on the assets if you pass away, since the assets are held in the trust or life insurance policy. This way, your family will not face larger tax liabilities than you planned. An estate freeze is an essential consideration for estate planning in Massachusetts. It is important to make sure that you fully understand the implications of an estate freeze before making a decision, and to consult with an experienced estate planning lawyer.

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What is an estate freeze and how does it work?

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