For many people, a trust is an integral part of a thorough and effective estate plan. Whether it is designed to avoid probate, reduce estate taxes, or protect assets, it is important that a trust is administered as instructed in the trust document to ensure that it serves its purpose. Therefore, one of the most...
Understanding the types of trust that are available and discussing your goals and wishes with your estate planning attorney should be accomplished before you settle on which type of trust is best for you. A Guide to Some Common Types of Trusts As discussed in our blog, “Trusts, not Just for the Rich and Famous”,...
In a previous article, we explored the benefits of reserving a life estate to protect your home from the high cost of nursing home care. (You can read the full article here) Reserving a life estate is a common planning technique where the home is deeded to a loved one, typically your adult child(ren), and...
Your home is often your most important asset. Many families want to protect this asset from the high cost of nursing home care. When nursing home care is not imminent, a common planning technique is to deed the home to a loved one, typically your adult child(ren), and reserve a life estate for yourself. This...
Scheduling a vacation requires a lot of thought and planning. It may involve booking a flight and hotel room, arranging for a rental car, and finding someone to look out for your home and pets while you are away. You plan to ensure that you and your family’s needs are met and to travel with...
Becoming a grandparent is a major milestone for many. We often hear clients describe the incredible joy that they experience holding their grandchild for the first time. Whether you’re a rookie grandparent, or a seasoned pro, you’re most likely considering taking a new direction and setting new goals with respect to your estate plan. Perhaps...
As we wrap up estate plan document signings, there is often a sigh of relief from clients who say, “I’m so glad that is taken care of!” But before you check off your to-do list, there are a few steps you should take to ensure that your estate plan is ready for future action. 1....
It all sounds too good to be true. The nursing home offers to prepare and submit your Medicaid Application (called MassHealth in Massachusetts) to get your loved one qualified, free of charge. Good deal, right? Well, you may want to think twice before accepting this offer. Moving a loved one into a nursing home Moving...
Medicaid (called “MassHealth” in Massachusetts) can help pay for long term care either at home or in a nursing home. If you think MassHealth will be needed in your or your loved one’s future, it’s always best to plan ahead. Five Year Look-back If you apply for MassHealth benefits, the state has the right to...
Having MassHealth pay for your care as you age can be an invaluable service. If you think you or a loved one may need MassHealth benefits in the future, there are some things you can do to in advance to meet the eligibility requirements. We’ve compiled the top three most common mistakes well-meaning individuals can...
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