Our focus at Simmons & Schiavo, LLP is to assist our clients in passing on the maximum amount of wealth to their loved ones. The best way to do this is to utilize tax savings techniques to minimize both capital gains and estate taxes. Click on the play button below and listen as Attorney Marco […]
07
Dec
Dec
The holidays are always a busy time of year. It’s also a time for thinking about family, life, and plans for the future. It’s very common to evaluate estate planning during the holidays. For many reasons, it’s actually an ideal time to do so. 1 – Time to Reflect & Adapt Life is often hectic […]
07
Dec
Dec
With only a few weeks left in the year, is your estate plan in order? There’s little time left to make changes that minimize taxes and help you better plan for the future. Here are a few things to consider in your year-end estate planning. 1 – Gift Tax Exclusion Every year, you’re allowed to […]
29
Oct
Oct
Being an estate executor (now called “Personal Representative”) is an important and serious job. It also comes with potential liabilities. For instance, if you distribute assets to heirs before paying off necessary debts, you could be held personally responsible for that financial mistake. To protect your rights and interests while carrying out your duties, remember […]
29
Oct
Oct
We previously wrote about how estate planning should change at different stages of your life. The same is true for your dependents. Their age and life circumstances will often prompt you to think about how to best care for and support them. Here are some thoughts on estate planning for different stages of your dependents’ […]
28
Oct
Oct
Being an executor of an estate, now known as a personal representative, is an important responsibility. It can be a bit confusing at first as you figure out what to do. Here are a few immediate to-do’s for estate executors in Massachusetts. 1 – Obtain a Death Certificate Death certificates can normally be requested from […]
28
Oct
Oct
At any age of adulthood, you should have an estate plan. However, the focus and goals of your plan will likely be different as you age. Estate planning is not something that you do once and forget. It should be a living document that changes with your life circumstances. The following is a look at […]
23
Sep
Sep
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 […]
23
Sep
Sep
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 https://www.sslawoffices.com/client-care/) . 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, […]
08
Sep
Sep
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 […]