When you run a family-owned business, that business is directly tied to your family’s livelihood. Any delay in its operation upon your death could be detrimental to your business and your family. It is important to take measures to protect and secure that business in your estate plan. The following ... Read More
Estate Planning
4 Ways to Transfer Family-Owned Businesses in Massachusetts
There are several ways to transfer family-owned businesses upon your death. Below, we provide a brief overview of a few of these options. Understanding these options will help you select the best option for you and your family. 1 - Gift it to an Heir The first way to transfer family-owned ... Read More
Massachusetts Estate Planning for Assisted Living and Long-term Care
Estate planning and retirement planning go hand-in-hand. By accounting for needs such as long-term care, you can ensure financial stability in your retirement years and preserve assets for your heirs. Massachusetts Estate Planning for assisted living and long-term care includes several different ... Read More
Key Considerations for Elder Estate Planning in Massachusetts
It is never too late to implement an estate plan. In your elder years, estate planning takes on a different approach than in your younger years. Your children may be adults and are able to maintain their own support. Your goals may be more related to providing for your own needs while not leaving a ... Read More
Reasons Not to Designate Children as Life Insurance Beneficiaries
Life insurance policies allow you to designate specific beneficiaries. Names listed directly in these policies override what may otherwise be stated in your will. Most parents are inclined to list their children as beneficiaries, but this does not normally achieve the desired result. Here are a few ... Read More
Estate Planning Decisions for Parents | MA Estate Planning
As parents of young children, you have some difficult decisions to make when it comes to estate planning. The thought of you and your spouse not being there for your children is probably terrifying. You might have difficulty even entertaining the thought, but even more troublesome should be the lack ... Read More
Life Insurance Retirement Plan Pros and Cons
We previously mentioned the option of using life insurance retirement plans (LIRP) such as Index Universal policies. Although it is indeed an option, is it necessarily the best option for you? Here’s a look at life insurance retirement plan pros and cons, and factors you should consider before ... Read More
Retirement Planning with Index Universal Life Insurance
We often think of life insurance as planning for our deaths, but modern life insurance products can also be used for retirement planning. Combination insurance and investment products were first introduced when insurance companies noticed people were opting to invest their money rather than purchase ... Read More
Protect Assets, Retain Access with Spousal Lifetime Access Trust
A Spousal Lifetime Access Trust (SLAT) is an estate planning tool that can be used to lock in the current estate tax exemption while still allowing a certain degree of access to trust assets. SLAT basics A SLAT is an irrevocable trust created by one spouse for the benefit of the other. The gift ... Read More
Preventing a Will Contest
When you write a will, you have control over how your assets will be distributed after your death. How- ever, if someone in your family disputes your will, an anonymous probate court judge could end up with the final say over who gets your property. Emotions run high when someone dies. If family ... Read More
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