Category Archives: Estate Planning

3 Ways to Change Your Estate Plan

Most estate planning documents can be changed. Noted exceptions are those specifically designed to prevent alterations, such as an irrevocable trust. There are typically 3 ways to change your estate plan, although some are recommended over others. 1 – Hand Edits Let’s start with the one people seem most inclined to try, which is to […]

5 Common Mistakes When Updating Estate Plans

Estate plans should be reviewed every year and updated as needed, which is why we have an ongoing Client Care Program (for more information see . It goes without saying that updating documents correctly is just as important as preparing the original estate plan. Unfortunately, mistakes can make revisions invalid and result in disputes, […]

3 Important Decisions for a Power of Attorney

There are several decisions to make when creating a power of attorney as part of an estate plan. Beyond selecting who to name as primary agent, you must also consider alternates and the specific powers to grant. There is no single or standard power of attorney document that works for everyone. This is why it’s […]

Purpose of a Power of Attorney in MA Estate Plans

A power of attorney is one of several common documents included in estate plans. Unlike most documents that take effect after your death, this one is active while you are still living. It is important to understand the purpose of a power of attorney in MA estate plans before deciding to include one in yours. […]

Tax Implications of Inherited 401(k) Accounts

Tax laws for retirement accounts can be very complex. When you start receiving distributions, how much you receive and for how long are important factors. When 401(k) accounts are inherited, the rules are somewhat different. Understanding the tax implications of inherited 401(k) accounts can help you minimize tax burdens. Payout Options At Death of Account […]

Why Term Life Insurance May Be the Best Solution

There are many different life insurance policies available. Some are straight forward with premiums and payouts and others include investment, annuity, and other features for retirement planning. It’s easy to get overwhelmed. Sometimes the best solution is the simplest one. Here’s why term life insurance may be the best solution for estate planning. What Is […]

Best Ways to Incorporate Life Insurance into Estate Plans

Incorporating life insurance into an estate plan goes beyond simply purchasing life insurance. Since these policies allow you to list direct beneficiaries and essentially bypass anything outlined in a will, you must make special arrangements to maintain more control over life insurance proceeds. Here’s a closer look at this topic and the best ways to […]

Coordinating Estate Plans of Divorced Parents

Coordinating Estate Plans of Divorced Couples

When couples divorce, they each prepare separate estate plans. However, when children are involved, it would seem that some coordination might be helpful for the benefit of their children. There are a few important things to know about coordinating estate plans of divorced parents. Using the Same Attorney Some couples opt to use the same […]

Estate Planning for Divorced Parents in Massachusetts

Divorce is an important life event that requires changes to other aspects of your life such as retirement and estate planning. Decisions that were previously straight forward when you were married are more complicated when divorced but have children together. The following tips on estate planning for divorced parents can help you navigate some of […]

4 Things Single Adults Should Have in Their Estate Plan

The urgency to complete estate planning for single adults is often different from that of married individuals. Without a spouse, single adults face more uncertainty in who would be involved in their life in the event of disability or incapacity, and also who will inherit upon death. In addition to the normal Last Will & […]