Watching your parents age can bring a mix of emotions—concern, gratitude and sometimes worry about the future. One of the most practical ways adult children can help is by guiding their parents through estate planning. Estate planning is not just about dividing...
Estate Planning
Prevent nursing home poverty with smart estate planning
For many families, the possibility of needing nursing home care feels distant until it suddenly becomes urgent. The financial impact can be immediate and overwhelming. Without a clear plan, savings meant to support retirement or future generations may vanish and leave...
Three big mistakes when modifying an estate plan
It can be difficult to figure out how to establish your estate plan. You have many options to choose from, and coming to terms with your mortality can be tough. But once you take the plunge and put forth the effort to develop a strong estate plan, you can breathe a...
Who should you choose as your estate executor?
Choosing the right executor for your estate is crucial. This decision can greatly affect your legacy. Remember, this person is responsible for managing your assets after you're gone. Many people just choose their oldest child or closest relative without considering...
How do you handle probate for out-of-state property?
Massachusetts courts can handle the primary probate proceedings for most of the estate. However, if your loved one had property or assets located in other states, you will likely need to start ancillary probate proceedings. What is ancillary probate? Ancillary probate...
How to help a parent with Alzheimer’s create an estate plan
It is stressful and worrisome to have a parent who suffers from Alzheimer’s or dementia. Seeing their cognitive decline and loss of memory can be heart-wrenching. You might also find yourself concerned about their needed medical care and the future of their estate. If...
How to reduce the risk of an estate plan challenge
As you create your estate plan, are you worried about some of your family members or friends contesting it? If so, then you may want to take additional steps to protect your estate and your plan for your assets. Otherwise, probate litigation can be costly to your...
Study: New retirement proposal could be a big boost for Massachusetts
It's common for employers to offer a retirement plan as part of their benefits package to attract employees, but many employers do not provide these plans at all, or only to certain employees. in fact, nearly 50% of American workers who are employed in private...
Why do people plan to avoid probate?
Those who read this legal blog regularly likely know about probate. For the uninitiated, probate is the legal process of settling an individual’s estate after death. It often poses challenges, such as time delays, expenses and the loss of privacy. As a result,...
Estate planning resources for young adults
If you are a young adult in Massachusetts, estate planning might not be high on your priority list. However, overlooking this crucial aspect can have significant consequences for you and your loved ones. Estate planning goes beyond distributing assets. It ensures your...