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...
Estate planning when your children are minors (under the age of 18) can be a challenge. Most parents are concerned about their minor child managing an inheritance at such a young age. Wills with testamentary trusts for minors may be a viable option to help solve this issue. Wills and Probate A Will is a...
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...
You have been very fortunate in your life – worked hard, saved your money and own your home. Throughout the years, you have been able to rely on a wonderful loved one. They check in on you often, help with your shopping and doctor’s appointments. In recognition of this important relationship, you decide to leave...
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...
We all know that a Last Will and Testament (Will) is an important thing to have. We want to make it easier for our families after we have died. But just having a Will often causes more problems than it solves. The problem is that it may not be enough; it could be putting your...
When a client is in the process of creating a trust, one of the first questions that comes up is “How should I choose my successor trustee?”. (Find out our answer in the previous article “How to Choose a Trustee” ). The follow-up question is usually if they should name co-Trustees to manage their revocable...
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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