ARTICLES

AllLong Term PlanningProbate and Estate AdminstrationAnnouncementsMedicaid PlanningWills, Trusts, and Estate PlanningCrisis PlanningGuardian and Conservators
How A Residency Agreement Impacts Life In Assisted Living

How A Residency Agreement Impacts Life In Assisted Living

When you move into a continuing care community or assisted living community, there are many things that you need to consider as you transition to your new living environment.  This article will cover the impact the Residency Agreement will have on life in your new community regarding their policies on issues such as visitors, common...
Maximize Your Legacy by Minimizing Estate Tax Exposure

Maximize Your Legacy by Minimizing Estate Tax Exposure

Death is an inevitable part of life, and while we can’t control when it happens, we can certainly take steps to control what happens to our assets after we’re gone. One of the financial considerations is estate taxes. Sometimes known as inheritance taxes or death taxes, estate taxes are levied on the estate of a...
Is an ILIT a New Texting Shorthand?

Is an ILIT a New Texting Shorthand?

Although it may sound like something you use when texting your friends, an ILIT is actually an irrevocable life insurance trust. An ILIT is a type of trust that is funded during your lifetime by a term or permanent life insurance policy and pays out proceeds of the policy upon the insured’s death.  Since it’s irrevocable, the...
5 Important Vacation Preparation Items

5 Important Vacation Preparation Items

Summer is in full swing and many of us are planning vacations – maybe it’s a local holiday to New England’s beaches or the mountains, or possibly something that requires air travel, like a trip to the west coast or “across the pond” to Europe. Before you leave, take some time to review your estate...
Your Vacation Home is a Treasured Heirloom

Your Vacation Home is a Treasured Heirloom

Vacation homes can mean many different things:  the center of cherished family memories; a reliable vacation spot; an investment for now and in the future.  Passing your beloved vacation property to future generations takes careful planning.  Not surprising, there is no one-size-fits-all planning option to ensure that this treasured real estate is protected from challenges...
3 Legal Documents Young Adults Need

3 Legal Documents Young Adults Need

Whether it be heading off to college, a gap year, or entering into the workforce, once our kids reach the age of eighteen, they enter the world as “adults” and are no longer legal minors. We can only hope that we have fully prepared our children for what lies ahead, however there is always the...
Whom Do You Trust?

Whom Do You Trust?

One of the most important aspects of creating an estate plan is selecting trusted people to act on your behalf in the event you are unable to make do so for yourself. These individuals, known as fiduciaries, carry out your wishes based on authority granted in a Power of Attorney or Health Care Proxy. The...
Planning for Long Term Care Using Irrevocable Trusts

Planning for Long Term Care Using Irrevocable Trusts

Medicaid (called “MassHealth” in Massachusetts) can help pay for long term care either at home or in a nursing home. If you think MassHealth’s assistance will be needed in your or your loved one’s future, it’s always best to plan in advance. Five Year Look-back If you apply for MassHealth benefits, the state has the...
How to Choose a Trustee

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...

Don’t Let the Nursing Home Take Your Stimulus Check!

The Office of Attorney General’s Office in Massachusetts has issued an informational advisory to all residents of nursing home facilities (also known as long-term care facilities) and their family members.  They want everyone to know that the recent Stimulus payments, also known as economic impact payment made under the CARES Act, are property to the...

Musings from a Reformed Hugger

How Coronavirus has changed the way we say “hello” I’m a hugger, there is just no getting around it.  When I meet someone I know, my first inclination is to give them a hug.  It’s my way of saying how happy I am to see the person and to convey the message that they are...

Dear Generations Law Group: Should I Be Updating My Estate Plan?

Dear Generations Law Group, I’ve been updating my Naughty and Nice List and checking it twice. This got me to wondering, “Should I be updating my Estate Plan too?” Yours Truly, Kris Kringle Dear Mr. Kringle, Thank you for your letter and question! You started off on the right path by creating an estate plan....

New Mass SJC Ruling Affects Inheritance Rights of Families

Recently, the Boston Globe reported that the Massachusetts Supreme Judicial Court handed down a major ruling affecting the future inheritance rights of families, and in this case specifically, blended families.  In a unanimous decision, the court ruled that spouses are entitled to one-third of their deceased spouses’ estate – effectively cancelling out the late spouse’s...

Beneficiary Designations – Proceed with Caution

Whenever we purchase a life insurance policy, open a mutual fund, or enroll in a company retirement plan, we are usually asked to designate a beneficiary. After naming these individuals, we never give it much thought again. Maybe you’ve named your spouse, one of your parents or your children. After your death, these assets are...