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The Importance of Reviewing Your Beneficiary Designations

The Importance of Reviewing Your Beneficiary Designations

Last week I had an opportunity to sit with a new client who said it had been several years since he had reviewed his estate plan. During that time he had lost his wife and one of his children had married and had a child. As part of our review process, we look at his…

Dying “Intestate” Can Have Dire Consequences

Dying “Intestate” Can Have Dire Consequences

In today’s (February 7, 2019) Boston Globe, a heartbreaking story made the front page. The story is about a family who has been living in the same home for almost 40 years in Cambridge, Massachusetts, and is now facing the loss of the home due to the death of their patriarch. Several generations of this…

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…

New Mass SJC Ruling Affects Inheritance Rights of Families

New Mass SJC Ruling Affects Inheritance Rights of Families

Recently, the Boston Globe reported that the Massachusetts Supreme Judicial Court handed down a major ruling affecting the future inheritance rights of families, and in this case specifically, blended families.  In a unanimous decision, the court ruled that spouses are entitled to one-third of their deceased spouses’ estate – effectively cancelling out the late spouse’s…

Think Twice Before Signing That Health Care Proxy!

Think Twice Before Signing That Health Care Proxy!

Going to the hospital for a procedure can be stressful and, at times, confusing. A hospital will usually ask you if you have a Health Care Proxy (HCP) in place. If you do not have an HCP, or are unsure, they will ask you to sign a simple Massachusetts HCP form. As you are probably…

Blended Families and the Value of Revocable Trusts

Blended Families and the Value of Revocable Trusts

You may be a little bit older and wiser, but marrying again is still full of excitement and anticipation. However, second marriages, particularly if there are children involved from your previous marriage, present their own unique issues when it comes to your estate plan. Even in the best of “step-family” situations, allowing your new spouse…

Beneficiary Designations – Proceed with Caution

Beneficiary Designations – Proceed with Caution

Whenever we purchase a life insurance policy, open a mutual fund, or enroll in a company retirement plan, we are usually asked to designate a beneficiary. After naming these individuals, we never give it much thought again. Maybe you’ve named your spouse, one of your parents or your children. After your death, these assets are…

What are the Different Types of Trusts?

What are the Different Types of Trusts?

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. What kinds of trust are there? As discussed in our blog, “Trusts, not Just for the Rich and Famous”, trusts can…

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