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 […]
09
Mar
Mar
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. […]
09
Mar
Mar
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 […]
10
Feb
Feb
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 […]
10
Feb
Feb
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 […]
13
Jan
Jan
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 […]
13
Jan
Jan
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 […]
06
Dec
Dec
The holidays and end-of-year are a time for reflection… and planning. Estate planning is one of many things that you may want to review as you close out the year. Be sure to include these in your year-end estate planning tasks. Changes to Assets & Liabilities If your assets or liabilities changed over this last […]
03
Dec
Dec
With so many activities during the holidays, estate planning may be the last thing on your mind. However, it’s actually a great time to think about your estate planning goals and to communicate them with your family members, especially if it’s the one time of year that you’re all together in-person. Here are a few […]
25
Nov
Nov
Family trusts are often designed to benefit your immediate family or other relatives in the event of your death. One scenario that we often don’t think about is what happens when a beneficiary of a family trust gets divorced. Below are a few possibilities, based on recent case law in Massachusetts. Direct Assignment to Ex-Spouses […]