ARTICLES

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...
Do I need an Affirmation of Health Care Proxy?

Do I need an Affirmation of Health Care Proxy?

What happens if you have been named as someone’s Health Care Proxy but you find out, once it has been activated, that the proxy has been changed or the person you are acting for says they no longer want you to make decisions for them.  What can you do?  As with everything, the answer is...
What Are Guardianships and Conservatorships?

What Are Guardianships and Conservatorships?

We frequently receive calls from people looking to act on behalf of a family member or loved one who has lost capacity and is no longer able to manage decision making for themselves. When that person does not have an effective Health Care Proxy or Durable Power of Attorney in place, the next step is...