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Should You Leave Siblings Unequal Shares of Your Estate?

When you’re reviewing your estate plan, it’s important to think about how to divide your estate among your children. While you don’t need to leave siblings equal shares, be aware that inheriting unequal amounts can cause arguments among children after you pass. To avoid disagreements from the get-go, you may want to leave your children […]

Updating Estate Planning Documents at Divorce

The story of a divorcing couple in Arizona demonstrates why you need to update your estate plan at divorce. The couple, who were in their early 40s and had been married for several years, had created a multimillion dollar business together. When they filed for divorce, the process became bitter and full of disagreements about […]

Avoiding Medicaid Penalty Period for a House Transfer

Under the laws of most states, when you transfer your house to a child or anyone else, you enter into a Medicaid penalty period, barring your eligibility for Medicaid for a period of time. A way to avoid the penalty period is for the Medicaid applicant to transfer the house to a child considered to […]

Benefits of Mediation in Estate Planning

A recent case in Illinois highlights the value of mediation in resolving estate-planning disputes. The case involved a successful family business created by Daniel and Mary O’Brien. The business, valued at $125 million as of 2013, included interests in hotels, a nursing home, a golf course, gas stations, fast-food franchises and warehouses. Most of the […]

Guidance on Grandparent Gifting

Grandparents are regularly generous with grandchildren, sometimes giving significant amounts of money. Often they want to share their resources to leave a legacy. In some cases, their children or grandchildren are dealing with financial hardship. Grandparents might also believe that their kin shouldn’t have to wait for their inheritance. Grandparents commonly provided assistance paying for […]

Importance of Passwords In Estate Planning

So much is online these days, which means we have passwords for just about everything! This is great for ease of use, but it can present some challenges for your heirs should something happen to you. Even if you have a power of attorney in place, without passwords, it may be difficult for designated individuals […]

Types of Long Term Care

As people live longer and the cost of medical care increases, understanding the types of long term care available is important for families. It is both an emotional and financial decision that does not come easy. Below is an overview of the major types of long term care and what families should know about each. […]

5 Ways to Pay for Long Term Care

Long term care is one of the most expensive costs that you may encounter later in life. For most, it creates a financial hardship and forces difficult decisions by family members. Understanding your options can help you better prepare now for potential future needs. Here are 5 ways to pay for long term care in […]

Tips on Organizing Non-legal Aspects of Your Estate

When we think of estate planning, we often think of the legal documents involved such as the will, trust, power of attorney, etc. However, good estate planning goes beyond that. When we pass, our families are often left to figure out a lot of things, even when an estate plan exists. Getting organized can help […]

Tax Considerations When Selling a Home in Massachusetts

The increasing real estate prices in Massachusetts is prompting many homeowners to consider selling. One common misconception is that selling and buying at the same time can help you avoid taxes. Unfortunately, that only applies to investment properties when using something called a 1031 exchange. For single family homes used as a primary residence, it […]