When you are healthy and young, it can be easy to put estate planning and long-term care to the side. However, as we age - or our parents age - careful planning becomes necessary. If you, your spouse or a parent has health issues, this type of planning may become...
Year: 2016
Caring for a loved one can cause stress and health issues
As a caregiver, you are not alone. There are millions of individuals across the U.S. who provide care for spouses, parents and loved ones. However, the level of care needed to look after a loved one with Alzheimer's, dementia and similar incapacitating conditions can...
When should you update your estate plan?
When there are significant life events and changes in the law, it may be time to revisit your estate plan. But how do you know that it's time? What do you need to change? How soon should you make changes? In general, it is a good idea to revisit your estate plan once...
The risks of using a power of attorney when caring for a parent
When you have a power of attorney over an aging parent, it gives you the ability to make financial decisions in your parent's place. It does not give you absolute authority and power, however. If you take action without understanding your rights and responsibilities,...
Three reasons why a living trust may be right for you
When it comes to estate planning, for some, a will is all that is needed in order to accomplish their goals. However, for others, it may be beneficial to supplement the will with a trust. There are several types of trusts to choose from. However, one very popular...
When do you need a guardianship or conservatorship over your parent?
As your parents age, it may be become difficult for them to make decisions on their own. This can happen for a variety of reasons. Your mom or dad may develop dementia, Alzheimer's, aphasia or another type of neurological disorder. Your parent may be injured or...
Protect your children through estate planning
When you are raising young children, your life is busy. And when you are busy, it can be easy to focus only on the present and forget to consider the future. To protect your children, however, it is essential that you take the time to create an estate plan that...
How long will Medicare cover skilled nursing care?
After a serious accident or illness, you may not be able to care for your loved one on your own. It may become necessary to move your loved one into a nursing home. However, the cost of nursing home care in Massachusetts can be substantial.Whether it is your spouse or...
Three transfer taxes to consider when putting together an estate plan
Estate plans can help reduce tax obligations, including transfer taxes. Estate plans can be designed to meet a variety of goals, including reducing an estate's tax obligations. In order to help reduce these obligations, it is wise to have a basic understanding of the...
When would I need a trust?
A trust can help you to protect your assets and provide for your loved ones. But it can be hard to know when you need a trust. Trusts are not always necessary, and there may be other, simpler solutions to help you meet your goals.Whether a trust is appropriate for you...