A durable power of attorney (DPOA) that takes effect immediately is a vital estate planning tool that grants someone legal authority to act on your behalf while you’re still alive. Unlike a springing power of attorney that only activates upon incapacity, an immediate DPOA becomes effective as soon as you sign it. Key Features An...
The holiday season, with its gatherings of family and friends, naturally turns our thoughts into deeper matters. As we sit around tables laden with traditional dishes, exchange gifts, and share stories both old and new, we often find ourselves contemplating our place in the family and community history. What legacy are we creating? What impact...
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...
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...
Receiving a dementia diagnosis can be overwhelming, both for the individual diagnosed and their loved ones. Here are some steps and recommendations on what to do after someone receives a dementia diagnosis: Educate Yourself Learn about the specific type of dementia that has been diagnosed. There are multiple types, and understanding the symptoms, progression, and...
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...
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...
Your home is often your most important asset. Many families want to protect this asset from the high cost of nursing home care. When nursing home care is not imminent, a common planning technique is to deed the home to a loved one, typically your adult child(ren), and reserve a life estate for yourself. This...
Becoming a grandparent is a major milestone for many. We often hear clients describe the incredible joy that they experience holding their grandchild for the first time. Whether you’re a rookie grandparent, or a seasoned pro, you’re most likely considering taking a new direction and setting new goals with respect to your estate plan. Perhaps...
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