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4 Ways to Use Trusts for Future Generations’ Inheritance

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

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

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

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...
Don’t Sign Another Health Care Proxy!

Don’t Sign Another Health Care Proxy!

A healthcare proxy document is a document that you sign appointing someone else to step into your shoes should you need healthcare decisions made when you’re incompetent or incapacitated. Clients will often ask: What happens when I go into my doctor’s office or go in for to the hospital for a procedure and they want...
Assisted Living Resident Agreements:  Key Points to Know Before You Sign

Assisted Living Resident Agreements: Key Points to Know Before You Sign

Like change of any kind, moving into a new community can be both exciting and overwhelming.  Whether you are dealing with the emotion of leaving a community that you have lived in for a long time, or experiencing changes in your health, moving to a new community can be difficult but provide incredible benefits.  One...
7 Reasons Every Adult Needs Health Care Directives

7 Reasons Every Adult Needs Health Care Directives

Health care planning, such as the creation of a health care proxy here in Massachusetts, is critical for anyone over the age of 18, not just older adults. Here are some reasons why health care planning is important at every stage of life: 1. Preventative Care Health care planning allows individuals to prioritize preventative care...
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 very public process. Not to mention it can sometimes be unpleasant. 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, the value of...
Don’t Let the Nursing Home Take Your Stimulus Check!

The Office of Attorney General’s Office in Massachusetts has issued an informational advisory to all residents of nursing home facilities (also known as long-term care facilities) and their family members.  They want everyone to know that the recent Stimulus payments, also known as economic impact payment made under the CARES Act, are property to the...