Creating a will is a vital step in being prepared for the future. This can protect family members, make sure property goes where the person – the testator – wants it to go, prepare to pass along a business and much more. For Massachusetts residents who take the...
Estate Planning
What happens if I die without ever writing a will?
Like other states, Massachusetts has laws in place that set out how a person’s property will be transferred if they leave no will. These laws also apply in other situations, such as when a person’s only will gets invalidated for some reason or if the will does not...
5 estate planning tools that every twentysomething needs
You're never too young for estate planning. Even if you are in your 20s and 30s and expect to live a long time, nobody knows what the future holds. The more you can do to plan for the worst, the more peace of mind that your children and spouse will be taken care of....
The need for nursing home planning
No one wants to plan for a future where they may be reliant on nursing home services. However, the realities of growing older necessitate specific proactive steps that can make it affordable if a loved one needs a higher standard of care. The financial costs are at a...
Ways to avoid the probate process
The probate process in Massachusetts can be long and expensive. When someone dies without a will, their assets must go through the probate process. Since there is no will to determine who receives which assets, the assets are distributed according to probate law....
Asset protection is a key to good estate planning
One of the basic goals of estate planning is to protect a person’s wealth so that their loved ones can enjoy it. For example, without some careful estate planning, Massachusetts residents may have to watch their hard-earned savings instead get swallowed up in nursing...
Overview of Personal Care Agreements
One important part of a Massachusetts resident’s planning for their aging is to figure out how they will provide for their own care. Even well before they have to enter nursing homes, people will likely need help with household chores, their financial affairs and...
Is estate planning as important for older Millennials as Boomers?
It may surprise our Millennial and Boomer readers, but older Millennials are now approaching 40. This means that a huge, new population now has kids (possibly multiple), cars, homes, burgeoning retirement accounts, sizable crypto-wallets, etc. And, with the...
The challenges of creating an estate plan
Estate planning represents proactive steps to provide your loved ones with peace of mind. Without formalized documents that communicate your wishes, relatives are left to interpret the actions you would have taken. Chaos can easily ensue. In addition to grief over the...
Do you know what a special needs trust can pay for?
A special needs trust can be a great way to provide for a loved one while still ensuring that he or she qualifies for government programs like Medicaid. This is because assets that are passed down to your loved one through a special needs trust are exempt from income...