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Problems in Probate: Unintended Estate Tax Consequences

Problems in Probate: Unintended Estate Tax Consequences

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...
Massachusetts Probate Law: Do my assets have to go through Probate?

Massachusetts Probate Law: Do my assets have to go through Probate?

You have probably heard from friends or relatives who’ve gone through it.  Probate is a time consuming, expensive, and, sometimes, an unpleasant process.  Not to mention, it is a very public process.  Anyone, especially your children’s ex-spouses and creditors, can see many private things about you, such as personal information, your finances including your debts,...
Who Will Choose Your Legacy: You or the Court?

Who Will Choose Your Legacy: You or the Court?

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...
Health Care Proxy vs. HIPAA Authorization

Health Care Proxy vs. HIPAA Authorization

When preparing an estate plan, we recommend that clients execute both a Health Care Proxy and an Authorization for Release of Protected Health Information (a “HIPAA Authorization”). While there is some overlap between the two, it is important to understand the purpose of each document and how and when they can be used. Example Joan...
The Best Next Step

The Best Next Step

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...
The Scary Truth About Wills

The Scary Truth About Wills

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...
What is an ILIT? Is it New Slang All the Kids are Saying These Days?

What is an ILIT? Is it New Slang All the Kids are Saying These Days?

Although it may sound like something your teenager has said, 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 whole life insurance policy and pays out proceeds of the policy upon the insured’s death.  Since it’s irrevocable, the trust generally...
Should You Name Co-Trustees?

Should You Name Co-Trustees?

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...
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