Massachusetts Estate Tax: Ryan Kittredge Explains the $2 Million Threshold and Planning Options
Ryan Kittredge, President of ClearPath Financial Partners
By-Hank Stolz
Graphic-Radio Worcester/ Photos: ClearPath Financial
Questions, Concerns, Opinions?
TEXT US! >> 774-364-8255
Worcester, MA- In this episode, Ryan Kittredge, President of ClearPath Financial Partners, breaks down the Massachusetts estate tax and how residents can plan around it. Since 2023, the state’s exemption was raised from $1 million to $2 million, but unlike federal thresholds, it is not indexed for inflation and does not allow spousal portability. With rising home values, growing retirement accounts, and other appreciating assets, many Massachusetts residents are crossing that threshold without realizing it.
As Ryan explains, “If you’re a million dollars over that exemption amount combined of two million, you’re paying at about 6%, call it $60,000 as an estate tax. At $3 million, it bumps up to 10%… if it’s let’s say $10 million roughly at this point, you’re going to get hit with the maximum 16%.” …”The tax starts at really just about 1% on the first $40,000 over it, but it quickly goes up.” …”For somebody with a $10 million estate, that’s a seven-figure tax bill from Massachusetts. That’s on top of any other income taxes and the normal taxes that we’re all used to.”
Estate Planning Strategies
Strategies discussed include credit shelter and bypass trusts, lifetime gifting to children and grandchildren, funding Roth IRAs and 529 plans, charitable contributions, transferring life insurance ownership out of the estate, and for higher-net-worth individuals, domicile planning. Kittredge also addresses the importance of regularly reviewing estate documents and powers of attorney, particularly as clients age or experience health changes.
Why Planning Matters for Married Couples
As Ryan warns, “Massachusetts does not allow spousal portability. So, if the first spouse to die does not protect their shelter their $2 million, that is used up or it’s forfeited for the surviving spouse.” “If you think of a couple worth in total $4.5 million, everything passes out right at the first death with no tax, but now the survivor holds four and a half million dollars of probably appreciating assets against a $2 million threshold.” “If they had used some creative trust planning… like credit shelter or bypass trusts that allow the spouse to preserve their two million, they could at that point have protected two million at this first spouse’s death plus all of the growth of that.”
Listen to past episodes of the ClearPath Financial Podcast
Retirement Tax Planning: Why Paying Less Tax Today Could Cost You More Tomorrow
Ryan Kittredge of ClearPath Financial Partners explains why successful retirement tax planning focuses on minimizing lifetime taxes—not just this year’s tax bill—through strategic withdrawals, Roth conversions, and coordinated income planning.
Received an Inheritance? ClearPath Financial Partners Explain the First Steps to Take
Financial advisors Ryan Kittredge and Molly Brown of ClearPath Financial Partners explain what to do after receiving an inheritance, common mistakes to avoid, tax considerations, and why fiduciary guidance can help protect your financial future.
Financial Expert Ryan Kittredge Explains Social Security Claiming Strategy and Impact of the Social Security Fairness Act
Ryan Kittredge, president of ClearPath Financial Partners, joined Radio Worcester to explain the complexities of Social Security, including how the Social Security Fairness Act eliminated WEP and GPO provisions and why the timing of when you claim benefits can have major financial consequences.
ClearPath Financial Partners on Why the Final 3–5 Years Before Retirement Matter Most
On this episode of the ClearPath Financial Partners podcast, President Ryan Kittredge breaks down why the final three to five years before retirement represent a pivotal shift — from hopeful projections to concrete, math-driven planning for income, taxes, and long-term security.
New Year Financial Reset: Tax Planning, Investing, and Goal Setting Tips from ClearPath Financial Partners
The start of a new year offers a natural opportunity for a financial reset. On the ClearPath Financial Partners Podcast, President and Advisor Ryan Kittredge outlines practical steps for tax planning, portfolio rebalancing, and setting achievable financial goals.
ClearPath’s Ryan Kittredge on Why Disability Insurance Matters Most
ClearPath’s Ryan Kittredge breaks down why long-term disability insurance is one of the most important — and underutilized — forms of personal insurance. He also explains how life insurance needs evolve with age, goals, and financial independence.
ClearPath Financial Partners: Insurance & Risk Management
ClearPath Financial Partners’ Ryan Kittredge and Zawada Insurance’s Andrew Zawada discuss why risk management is a critical piece of every financial plan. From rising auto insurance costs to the dangers of minimum coverage limits, they explain how working with an independent agency and selecting the right deductibles can protect assets and future financial security.
ClearPath Financial’s Ryan Kittredge on AI, Amazon, and Economic Normalization
ClearPath Financial Partners President Ryan Kittredge joined Talk of the Commonwealth to discuss Amazon’s recent layoffs and the broader economic forces at play. While AI is influencing productivity, Kittredge said the real driver is post-pandemic normalization following years of overhiring fueled by stimulus and low interest rates.
ClearPath Financial Partners President Ryan Kittredge joined Hank Stolz on Talk of the Commonwealt
ClearPath Financial Partners President Ryan Kittredge joined Hank Stolz on Talk of the Commonwealth to discuss the economic impact of the government shutdown. Kittredge said the short-term effect on individuals is limited, but an extended shutdown could shake investor confidence and increase market risk. Despite uncertainty, he remains optimistic about the economy, citing strong earnings and possible interest rate cuts.
Financial Expert Ryan Kittredge Shares Smart Strategies for Lottery Winners
If you hit the jackpot, what comes next? Ryan Kittredge, President of ClearPath Financial Partners, joined Talk of the Commonwealth with advice for new Mega Millions or Powerball winners. His top recommendation: be patient, avoid big changes in the first months, and build a trusted team of three professionals—a financial advisor, a CPA, and an attorney skilled in setting up blind trusts. Kittredge warns against “undue risk” and suggests sticking with proven wealth-preserving strategies like high-yield savings, CDs, and index funds. He also cautions winners to be mindful of personal requests for money, which can create financial and emotional pitfalls.
What Does Worcester Public Schools’ Chief of Equity, Access, and Opportunity Do?
Sean Rose’s new Cabinet-level position reports directly to the superintendent. The job is intended to identify and reduce barriers that affect students’ and families’ access to opportunities across Worcester Public Schools. The district says the chief will: Worcester Public Schools
- Review district policies and practices and work to narrow opportunity and achievement gaps.
- Oversee family and community engagement, including student and family advisory councils, community outreach, and the Parent Information Center.
- Coordinate work across departments to strengthen culturally responsive teaching and help direct resources through an equity lens.
- Support school boundary planning, restorative practices, social-emotional learning, and the Grow Your Own teacher recruitment initiative.
- Oversee equity and discrimination compliance matters and lead targeted outreach efforts.
Who held the job before Rose? No one. The district created the position in its FY27 budget, and Rose is its first appointee.
Sources
Worcester Public Schools-Statement on Chief of Equity, Access and Opportunity
LIVE STREAM
Radio Worcester
CONNECT
RADIO WORCESTER STUDIOS
Summit Street (Behind Polar Park)
Worcester, MA 01610.