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Choosing an Adult Child as Your Personal Representative

Choosing an Adult Child as Your Personal Representative

Creating a Will requires many important decisions.  One of the most significant is naming a Personal Representative (PR) to manage and settle your estate after you pass.  The responsibilities of a PR (sometime referred to as an Executor or Executrix) are significant, including making decisions about how your assets are managed and distributed to your…

What’s in a Label?

What’s in a Label?

In estate planning, it can be very confusing understanding the terminology that is used to describe the important fiduciary roles.   Have you heard the term personal representative?  How’s that different from a Trustee?  And what is the difference between a Guardian and Conservator?  Here is a quick review of the labels or terms you should…

Is Leaving Unequal Inheritance to Your Children Fair?

Is Leaving Unequal Inheritance to Your Children Fair?

When parents create their estate plan, one of the decisions that must be made is how to divide their estate among their children. For some, the answer is simple – every child gets an equal share; for others the situation is more complicated and leaving equal shares is not the desired choice. Sometimes the relationship…

2 Things You Must Do in Order for Your Trust to Work Properly

2 Things You Must Do in Order for Your Trust to Work Properly

If you recently signed revocable trust documents, Congratulations! Establishing the building blocks of your estate plan is an important first step in creating peace of mind for you and your loved ones. One of the main benefits of a revocable trust is the ease of administration for your loved ones and avoidance of the need…

The Importance of Estate Planning in the LGBTQ Community

The Importance of Estate Planning in the LGBTQ Community

The long-awaited legalization of same-sex marriage has been a welcome victory for the LGBTQ Community and their supporters. Even so, it is still quite common in the LGBTQ community to have a long-time partner but never marry. If you have been sharing your life with a significant other but are not legally married, it is…

Am I Responsible for My Parent’s Debts When They Pass Away? 

Am I Responsible for My Parent’s Debts When They Pass Away? 

As more seniors are struggling financially, an increasing concern those who are or will be managing their parent’s estate have is “Am I going to be responsible for my parent’s debt?”  Credit card debts and medical expenses can often overwhelm a family’s finances.  The last thing a parent wants is to pass their debts onto…

A Cost Comparison: Living Trust vs. Last Will and Testament

A Cost Comparison: Living Trust vs. Last Will and Testament

A Last Will and Testament (Will) and Revocable Living Trust (Living Trust) are both estate planning documents used to pass assets on to your beneficiaries at your death. Typically, for an estate planning attorney to create a proper Living Trust, the cost is more than to prepare a Will. When debating whether you should utilize…

Keeping the Family Vacation Home for Future Generations

Keeping the Family Vacation Home for Future Generations

Vacation homes are often the center of cherished family memories. We are fortunate in Massachusetts to be close to beautiful vacation spots such as Cape Cod, the Berkshires, or the lakes and mountains of northern New England. Keeping these family treasures for future generations requires careful planning. Not surprising, there is no one-size-fits-all planning option…

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