By Elizabeth A. Caruso, Esq.
Instead of busting a myth this month, as America celebrates its semiquincentennial this July 4th, I thought it would be interesting to take a historical perspective on how the Commonwealth’s approach to passing wealth has evolved alongside the nation itself.
Two hundred and fifty years ago, the founders signed a document declaring that people have the right to pursue happiness and security. Estate planning is, at its core, an extension of that idea, the legal expression of everything you’ve worked for and everyone you love, but estate in 1776 looks quite different than what we see today.
Massachusetts has been shaping American inheritance law since before there was an America. The colony adopted the Statute of Wills as early as 1641, giving property owners the right to direct where their assets would go upon death. By the time the Revolution was won, the Commonwealth had already established probate courts among the oldest in the nation to oversee the orderly transfer of estates.
When John Hancock, yes that John Hancock, died in 1793, he left behind a modest will that sparked a years-long dispute among his heirs and creditors. His widow and brother fought over the prize of the estate, the Hancock Manor at 30 Beacon Street in Boston. Even the most prominent figures of early America wrestled with the same question every Massachusetts family faces today: How do I protect what I’ve built?
In the 1800s, trusts became a favored tool of Boston’s merchant class, giving rise to the term “Boston trustee,” a nationally recognized standard of prudent, conservative trust management that influenced trust law across the country for generations.
The federal estate tax, introduced in 1916, fundamentally transformed estate planning from a matter of family wishes into a discipline of tax strategy. Massachusetts followed with its own estate tax, and suddenly attorneys, accountants, and families had to plan in concert. The irrevocable life insurance trust, the marital deduction, the bypass trust – these weren’t just legal tools; they were responses to government policy shaping how wealth moved between generations.
Massachusetts remains one of only a handful with its own separate estate tax, with an exemption of $2 million, well below the federal threshold. That gap makes Commonwealth-specific planning essential, not optional. For families with a home, a retirement account, and modest savings, the Massachusetts estate tax is a very real concern. The good news is the tools available today – revocable living trusts, irrevocable trusts, and healthcare directives – are more flexible and accessible than anything Hancock’s era could have imagined.
This Independence Day, as fireworks light up the sky over Boston Harbor, it’s a fitting moment to ask: Is your plan up to date? Creating an estate plan for your assets is not just about avoiding legal red tape; it’s about protecting relationships and preserving a meaningful part of your family’s story. By planning ahead, you can make sure your children and grandchildren inherit your property without the headaches that come with conflict and uncertainty. An elder law attorney can help you craft a plan that will work for your family’s specific circumstances.
About the Author: Elizabeth A. Caruso, Esq. is an attorney at Legacy Legal Planning, LLC, in Norwell. She has been practicing estate planning, probate, and elder law on the South Shore for more than a decade. If this article has sparked questions for you, please feel free to reach out via phone 781-971-5900 or email client@legacylegalplanning.com to schedule a time to discuss your unique situation.
