The Law Office of Dale J. Tamburro

💡 Not every asset should be treated the same way in estate planning.
One common misconception is that everything should be placed into a trust. While trusts can be powerful planning tools, IRAs are different.

In most cases, placing an IRA into a trust during your lifetime can trigger taxes and create unintended consequences. Instead, the focus is often on making sure your beneficiary designations are properly updated and coordinated with your overall estate plan.

A few important things to know:

✔ Real estate, bank accounts, and investment accounts can often be transferred into a trust
✔ IRAs generally stay outside the trust during your lifetime
✔ Beneficiary designations play a critical role in how retirement assets are distributed
✔ Most inherited IRAs must now be distributed within 10 years under current rules

Estate planning isn’t just about creating documents—it’s about making sure all of your assets work together as part of one comprehensive plan.

📞 617-489-5919
🌐 TamburroLaw.com

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💰 What is an estate tax?
Many people are surprised to learn that an estate tax is not an income tax or a capital gains tax. Instead, it’s a tax based on the total value of everything you own at the time of your death.

In Massachusetts, if your estate is worth more than $2 million, your family may need to file an estate tax return. That total includes assets such as:

🏡 Real estate
💵 Bank accounts
📈 Investments
🚗 Vehicles
📦 Personal property and other assets

Whether taxes are ultimately owed depends on several factors, including debts, deductions, and the types of assets you own.

The good news? Proper planning can make a significant difference. Certain estate planning strategies and trusts may help reduce potential tax burdens and preserve more of your assets for the people you care about most.

Understanding your options today can save your loved ones time, money, and stress tomorrow.

📞 617-489-5919
🌐 TamburroLaw.com

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HIRING! We’re growing our team at Tamburro Law!
Attorney Dale Tamburro is currently looking for:

• A paralegal with some residential real estate experience
• A general administrative support team member to help keep the office organized and assist with scheduling and day-to-day operations

If you or someone you know has experience working in a law office or with residential real estate and is looking for an opportunity to join a welcoming, team-oriented office, we’d love to hear from you.

📞 Please call our office for more information: 617-489-5919
🌐 TamburroLaw.com

Not every “trust” offers the same protection.
Many people hear the word trust and assume everything is fully organized and protected — but that’s not always the case.

A realty trust (sometimes called a nominee trust) is very different from a revocable or irrevocable trust. In some situations, these types of trusts can actually create title issues later on, especially if:
• A property owner passes away
• Beneficiaries are unclear
• Documents are incomplete or outdated

One of the biggest mistakes people make is assuming they’re fully protected without having their documents properly reviewed.

Estate planning isn’t one-size-fits-all. The right structure matters.

If you have any kind of trust and haven’t reviewed it in years, it may be time to take another look.

📞 617-489-5919
🌐 TamburroLaw.com

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