Naming a charity as the beneficiary of your IRA can be one of the most tax‑efficient ways to support a cause you care about. It’s a simple change on a beneficiary form, but it can dramatically reduce taxes and increase what ultimately goes to your heirs and your favorite organizations. Why IRAs Are “Tax-Heavy” for...
Many people assume their trust should be the beneficiary of all assets, including IRAs. But retirement accounts are different, and naming a trust as your IRA beneficiary can sometimes create unexpected tax problems. The Main Tradeoff Naming individuals directly as IRA beneficiaries is often more tax efficient. Naming a trust can provide better protection and...
A homemade Will might feel like a sensible shortcut—but the errors left behind can take years, and thousands of dollars, to untangle. There is something deeply appealing about the idea of writing your own will. It seems straightforward—you know what you own, you know who you love, and plenty of websites will sell you a...
When most people think about estate planning, they picture wills, trusts, and maybe a conversation with an attorney. But there’s one piece of the puzzle that often gets overlooked—and it can completely override everything else you’ve put in place – beneficiary designations. Beneficiary Designations Beneficiary designations are the names you list on things like life...
We all know we should have a will. It’s one of those things that sits on our mental to-do list, right next to “organize the garage” and “start that exercise routine.” But unlike those other tasks, procrastinating on estate planning can have devastating consequences for the people you love most. When Icons Fall: The Prince...
When you’re getting older, you might worry about paying for long term care (care at home, in the community, or at a nursing home). These costs can be very high and might force you to sell your home to pay for care. Two ways to protect your home are called a “life estate” and an...
What Are Digital Scammers? Digital scammers are people who try to steal your money or personal information using computers, phones, and the internet. They might pretend to be your bank, a family member, or even the adults and families who have lost a loved one. Why Scammers Target Families After Someone Dies When someone in...
Recently, one of our clients asked a question about property fraud in Massachusetts. They had heard something about it on the radio and weren’t sure if it was a real issue or not. If you own property in Massachusetts, you should be aware of quitclaim deed fraud. It sounds boring and technical but trust me—this...
The Concept A testamentary supplemental needs trust (SNT) is a specialized legal arrangement created within a person’s will that takes effect after they pass away. Unlike standard trusts, these are specifically designed for beneficiaries with disabilities or special needs who rely on government assistance programs like Medicaid or Supplemental Security Income (SSI). The fundamental concept...
You just met with your lawyer and signed your living trust. Good job! But your work is not done yet. Unlike a Will which, after it is signed, can be stored away until needed, there are several important steps you need to take next with your trust. Think of signing the trust like buying a...
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