Trusts & Estate Planning

Protect What You Have Earned

Rakatansky, Rakatansky & Associates provides knowledgeable estate, trust, tax and succession planning to businesses, individuals and families throughout New England. We work together with our clients to understand their objectives and family dynamics, create a customized estate plan and put that plan into action.

If you don’t have an estate plan, the assets you’ve spent a lifetime accumulating will be distributed according to state law upon your death. Having an estate plan in place ensures that your assets will be dispersed according to your wishes, in a timely manner and the estate tax liabilities incurred will be minimized.

Our team consists of CPAs, a CFP™, a CSA and an attorney who have considerable experience providing a wide variety of trust & estate planning services to clients. Let us help you safeguard your legacy so you can rest assured the maximum amount of your assets will be preserved and distributed as you intended.

Our Trust and Estate Services Include:

  • Estate administration
  • Estate planning
  • Estate tax return preparation
  • Legal services
  • Succession planning
  • Trust administration
  • Trust planning
  • Trust tax return preparation

Administration & Planning

Preserving Your Wealth

Our team includes CPAs, a CFP™, a CSA and an attorney with extensive experience in estate planning. This expertise enables us to provide our clients with trust & estate planning that is highly effective in minimizing estate, income, capital gains and gift taxes while complying with all applicable laws and regulations. The continual evaluation of tax consequences is always a priority when we develop and monitor long-term estate plans.

We employ an assortment of planning tools such as personal residence trusts, marital deduction trusts, revocable trusts, grantor trusts, credit shelter trusts, family partnerships and family limited partnerships to create estate plans that transfer the maximum amount of wealth with the least amount of frustration. In addition, in-house attorney Ira T. Rakatansky can draw up all necessary legal documents for affordable pre-negotiated flat rates.

Our Estate Planning & Administration Process Includes:

  • Inspecting trust documents, wills and inventory of assets
  • Exploring current business interests and alternatives
  • Estimating potential estate tax liabilities using various scenarios that emphasize tax savings
  • Analyzing potential liquidity issues
  • Ensuring the estate plan is properly executed
  • Reviewing the estate plan on an on-going basis and amending if necessary
  • Preparing trust, estate and gift tax returns
  • Preparing all necessary legal documents in-house

Trust & Estate Planning Services Include:

  • Asset protection – Protecting wealth from creditors
  • Business succession planning – Transfer or disposition of business interests
  • Durable power of attorney – Appointment of a trusted individual to oversee personal and business affairs
  • Elder law – Planning to fund long-term care while preserving assets
  • Health care proxies – Authorizing someone else to make medical decisions on your behalf
  • Living wills – Asserting your wishes regarding end-of-life decisions
  • Required minimum distributions – Reducing tax liabilities when taking distributions from IRA’s or other long-term investments
  • Trusts – Protecting assets from taxes, probate and litigation
  • Wills – Declaring who will inherit your estate

Tax Preparation – Trusts & Estates

Efficient & Timely

At Rakatansky, Rakatansky & Associates every federal and state estate tax return is prepared by a licensed CPA at an affordable price. The extensive technical expertise and industry experience that each of our CPAs possesses ensures every fiduciary tax return is carefully prepared in an efficient and timely manner.

We Prepare All Federal & State Fiducary Tax Returns Including:

  • 706 (Estate Tax)
  • 709 (Gift Tax)
  • 1041 (Trusts & Estates)
  • Other federal and state tax returns

Legal – Trusts & Estates

We Do It All

Legal services are provided to trusts & estates by in-house attorney Ira T. Rakatansky who is licensed in Massachusetts and is qualified to practice before the United States Tax Court.

Ira T. Rakatansky’s qualifications as a CPA, CFP™, CSA and an attorney enable him to provide a comprehensive set of estate planning and legal services that meet all of your trust & estate needs.

Estate planning includes the use of wills, trusts, power of attorney, health care proxies and many other planning vehicles. Many other CPA firms refer their clients to outside attorneys to draw up the legal documentation needed to put these planning vehicles into place. You can avoid paying two separate bills for the same service by engaging Rakatansky, Rakatansky & Associates to provide estate planning services and letting in-house attorney Ira T. Rakatansky draft any required legal documentation.

Most legal services are provided for affordable predetermined flat rates. That means we don’t rack up unreasonable hourly fees and the final bill won’t contain any surprises.

Proud Members Of:

member of CSA
member of AICPA
member of MSCPA
member of CFP