Coronavirus Impact on Retirement Planning

Coronavirus has impacted the economy and individual households in many ways. From reduced retirement account values, to loss of work and the need to withdraw retirement funds to meet expenses, you may be faced with some tough questions. We thought it would be helpful to take a look at the Coronavirus impact on retirement planning […]

Estate Planning Considerations for the 2020 Stimulus Package

As you’ve probably heard, the stimulus package was approved. There are many provisions within the bill,… two of which we believe relate directly to retirement and estate planning. Here are estate planning considerations for the 2020 stimulus package. Stimulus Checks If your adjusted gross income is less than $75,000 as an individual or $150,000 if […]

5 Qualities of a Good Personal Representative in Massachusetts

Selecting a Personal Representative (formerly known as an Executor) is one of the most important estate planning decisions you will make. A Personal Representative need not be a member of your family or beneficiary of your estate. In fact, it can be an independent party such as a trusted family friend, attorney, etc. Given the […]

Responsibilities of a Personal Representative of an Estate in Massachusetts

Executors, now known as Personal Representatives, play a key role in carrying out the wishes outlined in your estate plan. Understanding the specific responsibilities of a Personal Representative in Massachusetts can help you select the right person for the job. This, in turn, can give both you and your heirs peace of mind. Legal Appointment […]

Common Mistakes Made in DIY Estate Plans

Mistakes are always more likely when you’re doing something yourself as opposed to hiring a professional. Professionals have the benefit of years of education and first-hand experience. As a novice, you may not be aware that you’ve made a critical mistake until it’s too late. Here are some common mistakes made in DIY estate plans. […]

Dangers of DIY Estate Plans

With so much information available on the Internet, DIY is attempted on almost anything these days. Unfortunately, when it comes to DIY, you don’t know what you don’t know. This can be extremely dangerous in estate planning. A recent court case in Florida highlights the dangers of DIY estate plans. Aldrich v. Basile, Florida Supreme […]

Tax Implications of Real Estate Gifting Strategies

If you’re debating whether to gift a home to your children or grandchildren early or to bequeath it upon death, then you’ll want to read this article. There are important pros and cons to both strategies, mainly related to taxes. Below, we take a look at both scenarios and the tax implications of real estate […]

Tax and Trust Law Changes for 2020

Every year brings with it potential changes to tax and trust laws both at the federal and state level. It is important to stay up-to-date on these changes and to adjust your retirement and estate planning strategies accordingly. One of the important tax and trust law changes for 2020 involves estate transfer taxes. Here’s what […]

5 Things That Need Special Handling in Estate Planning

Some types of assets require special handling or attention in estate planning. Estate planning goes beyond simply providing instructions for straight forward items. Understanding the complexities of some assets and taking certain steps may be required to accomplish your estate planning goals. Here are a few examples of things that need special handling in estate […]

Estate Planning Questions for 2020

Happy New Year! As you welcome in the new year, it’s time to ask yourself some important estate planning questions for 2020. It’s necessary to review your plan every year, but these questions may change the way you approach your overall plan.  Estate Planning Questions for 2020 Taxes Do any recent legal or tax changes […]