News & Insights
An Introduction to Cummings & Lockwood's Private Clients Group
December 20, 2023In this video, Heather Rhoades, Chairman of the Private Clients Group, provides an overview of Cummings & Lockwood's Private Clients Group which provides a broad array of trusts and estates services to individuals, families, family offices, closely held businesses and private foundations.
Estate Planning & Incapacity Planning
December 20, 2023In this video, Margaret (Meg) Deluca, a Principal in Cummings & Lockwood’s Private Clients Group, discusses estate planning, why it is so important in case of incapacity, and the key components of an estate plan: a Will, Trusts, Durable Power of Attorney, Living Will and a Designation of a Health Care Representative.
Cummings & Lockwood 2023 Firm Overview
December 20, 2023In this video, Laura Beck, Chairman and Managing Directory of Cummings & Lockwood, discusses the firm's 115 year history.
2023 Private Clients Group Annual Update
December 14, 2023It is hard to believe another year has passed and, as is customary, we are writing our annual letter to provide you with an update on various tax and estate planning issues and to highlight some items which may be of interest.
Massachusetts Provides Clarity Regarding Millionaires Tax
December 13, 2023Starting with the 2023 tax year, certain Massachusetts taxpayers are required to pay a 4% surtax on taxable income in excess of $1 million. This so-called “Millionaires Tax” is imposed on top of the state’s current 5% flat income tax.
Current Estate and Gift Tax Environment
December 6, 2023In this video, Katherine Gent, an attorney in Cummings & Lockwood’s Private Clients Group, discusses the current federal, Connecticut and New York estate, gift and generation-skipping transfer tax laws.
New York Estate Planning Tips and Traps
December 6, 2023In this video, Jessie Gilbert, a Principal in Cummings & Lockwood’s Private Clients Group, discusses several estate planning tips and traps that are specific to clients located in New York or owning property in the State of New York.
Do I Have to Tell My Kids About the Trust?
December 6, 2023In this video, Daniel P. Fitzgerald, a Principal in Cummings & Lockwood’s Private Clients Group, discusses the required disclosures that beneficiaries or designated representatives must receive and the information to which they are entitled.
Florida Back-End Spousal Lifetime Access Trusts
December 6, 2023In this video, Robert Lancaster, a Principal in Cummings & Lockwood’s Private Clients Group, discusses the benefits and risk on the new legislation in Florida, which permits the creation of a Spousal Lifetime Access Trust (“SLAT”) under which the donor spouse may be a beneficiary of the SLAT after the death of the donee spouse, referred to as a “Back-End SLAT.
Corporate Transparency Act
December 6, 2023In this video, Brendan Snowden, an attorney in the corporate and finance group, and Elizabeth Falkoff, an attorney in the private clients group, discuss recent regulations implementing the Corporate Transparency Act. The Act, which became law on January 1, 2021 as a part of the Anti-Money Laundering Act of 2020, requires most companies, including LLCs and corporations, to report information about the company and its controlling owners beginning January 1, 2024.
Secure Act and Its Impact on Estate Planning
December 6, 2023In this video, Rachel Zarghami, an attorney in Cummings & Lockwood’s Private Clients Group, discusses how the SECURE Act, effective as of January 1, 2020, and the SECURE Act 2.0, effective as of January 1, 2023, have dramatically changed the use of IRAs as an estate planning tool.
Estate Planning and Qualified Small Business Stock
December 6, 2023In this video, Douglas H. Olin, a Principal in Cummings & Lockwood’s Private Clients Group, highlights the tax savings possible by using Non-Grantor Trusts to qualify for additional exclusions under the Qualified Small Business Stock rules.