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 regarding a loved one’s assets may be confusing. Here are some steps to take after a loved one dies:
Selling a home is an exciting process, and it is often the beginning of a major change in life. However, selling a home can also be emotional, legally complex, and downright stressful. When selling a home in Westport, Canton, or surrounding areas, here are a few things to keep in mind during the process:
For parents and guardians who are responsible for providing for a child or grown adult with special needs, worries about providing for the special needs individual once the parent or guardian dies are common. In most cases, caregivers want to leave money to a disabled person to ensure that care continues after the caregiver’s death, but are unsure of how to leave the money for myriad reasons, varying from the disabled person’s inability to manage the money on their own to jeopardizing state and federal disability benefits, like Social Security and Medicaid.
Pooled trusts are those that contain the assets of numerous individuals and which are established and maintained by a non-profit organization. These are set up for disabled individuals so as not to jeopardize their receipt of public benefits or to render them ineligible. Funds transferred to a pooled trust are not considered disqualifying transfers for determining eligibility for MassHealth or SSI. Funds also may continue to be transferred after a MassHealth application has been filed and is under consideration.
Guardianships and conservatorships are legal appointments by a Court whereby someone assumes responsibility for an individual who is unable to make decisions or to communicate effectively regarding their medical and/or financial matters. Both procedures can be used for minors or adults and are very similar in what they can accomplish.
Guardians fulfill roles that are similar to that of a responsible parent, making sure that the individual’s health and overall well-being are proper.
