How an ILIT can help offset estate taxes
With the Federal estate tax exemption possibly about to be lowered, it may be time to think about steps you can take to keep your estate from being taxed. An irrevocable life insurance trust allows you to pass on money to your heirs while avoiding both the federal estate tax, as well...
Estate Planning Myths
Myth or Fact? It is acceptable to leave an inheritance directly to minors in your Last Will and Testament.
This is a MYTH!
In Massachusetts, a minor is defined as anyone who has not yet reached the age of majority, which is eighteen (18) years old....
Prevent Estate Planning Blunders
The two most important blunders in estate planning are [1] not making an estate plan at all and [2] not using an experienced, knowledgeable estate planning lawyer to accomplish your goals.
The downside of not planning at all is ignoring the reality that protecting your family for unforeseen circumstances...
How To Handle Firearms in Estate Planning
If you’re a hunter, you enjoy recreational shooting, or have family heirloom guns in your collection, you should consider whether your estate plan includes adequate measures for passing on your guns. Without proper planning, your executor [aka Personal Representative] or beneficiaries could unintentionally break the law.
The first thing...
Creating Death Bed Final Estate Planning Documents
When a client contacts my office and tells me they only have a short time to live, the planning options are limited. In some tragic cases, I am called to the client’s bedside because the ill person is simply too weak or injured to travel to my office.
No...
First Steps to Take When Handling the Estate of a Loved One
A loved one’s death, even if expected, can be overwhelming, logistically as well as emotionally, especially if you are the designated personal representative, also known as the executor. Now is the right time to consult with a well-respected probate attorney who will guide you through the process of handling the estate of...
Consequences of Using On-line Estate Planning Document No
The following case study is on the pitfalls of using online software forestate planning. This is a situation that our office had to navigate. The names of the family have been changed but it could happen to anyone.
Mary was unmarried. She had 2 children. One of her...
Consequences of Using On-line Estate Planning Documents
The following case study is on the pitfalls of using online software forestate planning. This is a situation that our office had to navigate. The names of the family have been changed but it could happen to anyone.
Mary was unmarried. She had 2 children. One of her...
Estate Planning For Social Media and Electronic Gadgets
Nowadays most of us do everything online: managing our banking, storing our photos, writing the next best-seller novel, and documenting the next great invention. Yet few of us have read the Terms of Service governing access to those Facebook, LinkedIn, Snapchat, Gmail, and other digital media sites. (Terms of Service are those...
Who Keeps the Pet?
According to the American Veterinary Medical Association, pet populations, particularly dogs and cats, are on the rise and expected to continue to increase through at least 2030. Many people have welcomed a new pet to the family during the COVID-19 pandemic as well. A common question that clients should think about...