As technology advances, so do the methods scammers use to prey on all of us, and often we become more vulnerable as we age. Scams targeting seniors are on the rise, often resulting in significant financial losses and emotional distress. In this blog post, we’ll discuss the common scams that target seniors and provide valuable...
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...
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...
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...
Typical estate plans for long-standing first-time married couples make sure the surviving spouse is taken care of for as long as he or she lives, then whatever assets remain will be left to the children. More than likely, everything will go to the surviving spouse upon the passing of the first spouse, just as they...
Protecting assets from long term care facilities, like nursing homes, is often a top priority for most people when sitting down to meet with their estate planning or elder law attorney. When a married couple comes in looking to protect assets when one spouse is applying for MassHealth benefits, a Will with testamentary Supplemental Needs...
Did you know, if you don’t have a current estate plan in place, the Massachusetts Probate Court will decide who will inherit your possessions, raise your children, manage your assets, and administer your estate? Without proper organization, your assets could go unnoticed or become lost and loved ones may not benefit from your years of...
Question: “I had noticed that my mom was starting to be a little more forgetful and having some trouble caring for herself. Mom’s neurologist determined that my mom is in the early stages of dementia. What do I do now?” We sympathize with our clients that have to navigate this type of challenge. The best...
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...
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