Cummings & Lockwood LLC
 Courthouse Columns

News & Insights

Domicile and Residence Planning

December 1, 2022

The pandemic caused a lot of families to change their state of residence or remain in a state in which they did not previously reside.  (14:47)

The Basis of Marriage: Florida Community Property Trusts

December 1, 2022

The Florida Community Property Trust legislation that was enacted on July 1, 2021 that would allow married couples living in non-community property states to receive a full “stepped-up” income tax basis upon the death of either spouse. (21:11)

Estate Planning:  When Kids Become Adults

December 1, 2022

Elizabeth A. Falkoff, an Associate in Cummings & Lockwood’s Private Clients Group, covers basic wills, living wills and powers of attorney that should be in place when a person turns 18 years old.  (10:21)

Estate Planning with Cryptocurrency

December 1, 2022

Daniel G. Johnson, a Principal in Cummings & Lockwood’s Private Clients Group, discusses the opportunities for clients who want to incorporate cryptocurrency, nonfungible tokens and other digital assets into their estate planning.  (22:10)

Women Who Inspire Awards

November 14, 2022

Cummings & Lockwood was named this year’s corporate honoree of the YWCA Greenwich’s Women Who Inspire Awards in recognition of the firm’s “outstanding leadership in developing a strong culture and practices that support gender equity and women’s empowerment.”  

Massachusetts Millionaire’s Tax Passed

November 11, 2022

The Massachusetts constitution requires that the income tax must be a flat tax.  On November 8, 2022, voters in Massachusetts approved a constitutional amendment for the first time in 22 years which imposes a 4% surtax on top of the state’s 5% flat tax for the portion of the annual household income exceeding $1,000,000.  The $1,000,000 threshold will be adjusted annually to reflect cost-of-living increases. 

Inflation Causes Significant Increases to Federal Estate and Gift Tax Exemptions

October 18, 2022

On October 18, 2022, the IRS officially announced the inflation adjustments for 2023 for the gift and estate tax exemptions.

2022 Private Clients Group Annual Update Letter

October 2022

This annual update summarizes the current status of the estate and gift tax rates and exemptions at the federal and state levels (Connecticut, New York and Florida) and highlights key provisions of these important state law developments.

41 Cummings & Lockwood Attorneys Have Been Recognized by Best Lawyers® in America in Its 2023 Edition

August 18, 2022

Cummings & Lockwood LLC is pleased to announce that 41 of the firm’s lawyers have been listed in The Best Lawyers in America® and recognized in the Best Lawyers: Ones to Watch in America™ 2023 editions.

Naples Office - 2023 Best Lawyers in America® and Ones to Watch™

August 18, 2022

Congratulations to the following Cummings & Lockwood attorneys in the firm’s Naples, Florida office, who have been listed in the 2023 edition of The Best Lawyers in America®:  Todd L. Bradley (Trusts and Estates), Alison K. Douglas (Trusts and Estates), Kenneth D. Krier (Trusts and Estates), and Robert L. Lancaster (Tax Law; Trusts and Estates).

Bonita Springs Office - 2023 Best Lawyers in America® and Ones to Watch™

August 18, 2022

Congratulations to the following attorneys in the firm’s Bonita Springs, Florida office, who have been listed in the 2023 edition of The Best Lawyers in America®: Mary Beth Crawford (Trusts and Estates), William N. Horowitz (Trusts and Estates), Howard M. Hujsa (Trusts and Estates) and David A. Ludgin (Trusts and Estates).