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Massachusetts Approves New Law Increasing Estate Tax Threshold

Governor Healy signed Bill H. 4104 into law on October 4, 2023, which increases the Massachusetts estate tax threshold from $1,000,000.00 to $2,000,000.00 and increases the tax credit to $99,600.00.  This law applies to all deaths on or after January 1, 2023.  This law also eliminates the “cliff effect” whereby a decedent’s whole estate is taxed once it hits the estate tax threshold, not just the amount over the threshold. 

If you are the Personal Representative of an estate or have questions and would like to discuss your estate plan, please contact our office and ask to speak with Attorney Melissa A. Howitt or Attorney Amy N. Azza, our estate planning attorneys, at 508 541-3000.