Inheritance Archives - Generations Law Group

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Maximizing Your Legacy: Estate Planning Can Reduce Estate Tax Exposure

Estate taxes can significantly impact the wealth you’ve worked hard to accumulate over your lifetime, potentially reducing the amount you can pass on to your heirs. However, with careful estate planning, it’s possible to minimize your estate tax exposure and maximize the legacy you leave behind. This blog post explores various strategies that can help...

Long Term Care Bill Signed into Massachusetts Law

On September 6, 2024, Governor Maura Healy signed into law H5033 (An Act to Improve Quality and Oversight of Long-Term Care) known as the Long Term Care bill. The legislation related to the bill has been long advocated by numerous groups, including the Massachusetts Chapter of the National Academy of Elder Law Attorneys (MassNAELA). Some...

10 Things to Do Before Flying South for the Winter

The summer temperatures are calming down a bit this week, and we are (reluctantly) starting to think about the fall and winter months. If you are a New Englander who flies south for the winter, there are some estate planning elements that you should review or initiate. These items help you prepare for the “what...

Preparing Your Adult Child: 3 Essential Legal Documents

As our children embark on their next chapter in life, whether it’s heading off to college, taking a gap year, or entering the workforce, we parents face a bittersweet milestone. Our kids, now 18, are legally considered adults. While we’ve done our best to prepare them for what lies ahead, we may still need to...

4 Ways to Use Trusts for Future Generations’ Inheritance

As you plan for your family’s financial future, trusts can be powerful tools to efficiently protect and transfer wealth. Using a Trust to hold inheritances for children or grandchildren can allow you to leverage annual gifting and potentially reduce estate taxes. 1. Trusts as Inheritance Vehicles Setting up a trust to hold assets for your...

7 Reasons to Preplan Your Funeral

More frequently, we are hearing clients talk about wanting to plan ahead for all aspects of their aging, including planning for their final funeral wishes. While not necessarily a “fun” way to spend one’s time, planning for end of life can have many benefits. One of the strategies often used is to prepay for funeral...

7 Long Term Care Considerations

A point of discussion we often have with our clients concerns the issue of long term care. On most days, we receive questions such as, “How do I protect my assets?” and “How do I make sure that I get the care I need as I age?”. Thinking about long-term care costs is a wise...

Adding a Property to a Revocable Trust

We are often asked by clients who have a revocable trust, whether they can put their property into that trust, and the answer is usually yes. What if there is a mortgage? Even if that property has a loan against it, you can transfer ownership of the property into a revocable trust of which you...

Long Term Planning Probate and Estate Adminstration Wills, Trusts, and Estate Planning

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...

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