Brian E. Barreira Law Blog

I’ve seen several blog posts this year that state the conclusion that a life estate is not entitled to obtain a step-up in basis upon the life tenant’s death in 2010, but I have yet to see any analysis on how those lawyers got to their conclusion.  Congress is well aware of the existence of life estates, as Internal Revenue Code Section 2036 specifically addresses them; if Congress intended to exclude life estates from receiving a step-up in basis under Internal... Read More

As a result of a silly political game played by the U.S. Senate shortly after President George W. Bush took office, there was no federal estate tax last year on the first $3,500,000 of a person's net worth at death, and, right now, there is no federal estate tax if somebody dies, no matter how wealthy the person is, yet in 2011 the federal estate tax exemption goes all the way back down to $1,000,000.  Over the past several months, the Senate has been the obstacle to... Read More

All adults 18 years and older in Massachusetts are legally able to make decisions about their health care and to appoint someone to represent them upon incapacity.  On Friday, April 16, 2010, the country will observe the 3rd annual National Healthcare Decisions Day (NHDD) to encourage people to make their healthcare wishes known to family, friends and healthcare providers.

NHDD is a grassroots effort to promote advanced health care planning and decision making.  I am... Read More

Beginning in 2010, the federal tax law allows all persons who have IRAs to convert them, in whole or in part, to Roth IRAs.  A special 2010 rule allows taxpayers to divide the taxable income cause by the conversion between the 2011 and 2012 tax returns. 

One reason for a retired person to consider converting an IRA to a Roth IRA is that the retired person may be in a lower income tax bracket than the eventual beneficiaries.  For this reason, deferring income tax by... Read More

Despite criticism that health reform legislation will result in cuts to Medicare, the bills passed by the House of Representatives and the Senate contain provisions that would strengthen the program by reducing costs for prescription drugs, expanding coverage for preventive care, providing more help for low-income beneficiaries, and supporting accessible, coordinated and comprehensive care that effectively responds to patients’ needs.  The new law also would... Read More

In the 2009 case of Hernon v. Hernon, a successful will contest was upheld by the Massachusetts Appeals Court.  A nephew had moved in with the decedent, then the decedent had executed a new will 2 months before death that left his estate to the nephew’s children.

The court found that the elements of undue influence were present.  A long-time friend of the decedent testified that (1) the will was not consistent with their many conversations; (2) the... Read More