May Someone with Dementia Sign a Last Will and Testament?
Creating a Last Will and Testament is one of the most important parts of forming an estate plan. To be sure, a Last Will and Testament allows a person to designate the distribute of their property to loved ones, beneficiaries, and third-parties; it offers peace of mind that estate matters are...
Out of any good ideas for Holiday Gifts? This season we suggest that you give your family a gift that can, and will, last generations!
The holiday season is upon us, and as others rush about the malls and the internet looking for gifts, we can recommend a unique, useful and memorable gift that will be perfect for any loved one: An Estate Plan!
Why is this the perfect gift? As parents,...
What to Do After a Loved One Passes
The loss of a loved one may be the most traumatic event you will ever experience. Even if your loved one’s passing had been expected, the reality of the moment often hits hard. You will need some time to reflect on your loss and to make arrangements for your loved one’s...
Do You Know Who Gets Access to Your Joint Account Upon Your Death?
Joint bank accounts can be a great idea for you or a parent. A joint account can enable a relative to write checks, withdraw funds or transfer them for your benefit. There may be an issue, however, when you pass away as to who gets the account and what happens to...
The Best Ways to Give Money to Your Grandchildren
If you have grandchildren you can give them funds that can actually help them while teaching them about the importance of saving. By looking at certain ways on how you can provide them with gifts, you can avoid certain tax implications and perhaps give your loved ones a lesson on financial...
Why You Should Not Disinherit Special Needs Family Members
To disinherit a close family member is not a decision arrived at lightly and should not be done without first having a full discussion about the reasons and the consequences. If you have a special needs child who is receiving public benefits such as SSI, Medicaid and/or MassHealth, then you must...
Legal and Financial Steps to Take a After a Loved One Dies
The death of a loved one is an emotional challenge to deal with. To add to the loss, you may be tasked with the overwhelming responsibility of managing the deceased person’s estate and/or making tough decisions regarding a funeral or more. If the death happened unexpectedly, making legal and financial decisions...
What You Need to Know About Disinheritance
Understanding what will happen to your assets when you die can be confusing. If you do not have a Last Will and Testament, your assets will be divided per Massachusetts’ intestacy laws. However, if you do have a Last Will and Testament, you can make determinations about who will inherit your property....
A Warning on Beneficiary Designations
There are numerous ways to leave your estate to your named beneficiaries. A Will is the most common, though if you have considerable assets, retirement plans, stocks, brokerage accounts, bank accounts, real estate or other property, you may not want your estate to be probated since it is time consuming and all public.
Are Americans Ready to Retire?
In a frightening reveal of Elder Law News, a new study shows that most Americans are facing such economic hardships that they are not preparing for retirement. According to a report in the LA Times, over fifty percent of all workers in the United States are not saving nearly enough money...