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How A Residency Agreement Impacts Life In Assisted Living

How A Residency Agreement Impacts Life In Assisted Living

When you move into a continuing care community or assisted living community, there are many things that you need to consider as you transition to your new living environment.  This article will cover the impact the Residency Agreement will have on life in your new community regarding their policies on issues such as visitors, common...
Maximize Your Legacy by Minimizing Estate Tax Exposure

Maximize Your Legacy by Minimizing Estate Tax Exposure

Death is an inevitable part of life, and while we can’t control when it happens, we can certainly take steps to control what happens to our assets after we’re gone. One of the financial considerations is estate taxes. Sometimes known as inheritance taxes or death taxes, estate taxes are levied on the estate of a...
Is an ILIT a New Texting Shorthand?

Is an ILIT a New Texting Shorthand?

Although it may sound like something you use when texting your friends, an ILIT is actually an irrevocable life insurance trust. An ILIT is a type of trust that is funded during your lifetime by a term or permanent life insurance policy and pays out proceeds of the policy upon the insured’s death.  Since it’s irrevocable, the...
5 Important Vacation Preparation Items

5 Important Vacation Preparation Items

Summer is in full swing and many of us are planning vacations – maybe it’s a local holiday to New England’s beaches or the mountains, or possibly something that requires air travel, like a trip to the west coast or “across the pond” to Europe. Before you leave, take some time to review your estate...
Your Vacation Home is a Treasured Heirloom

Your Vacation Home is a Treasured Heirloom

Vacation homes can mean many different things:  the center of cherished family memories; a reliable vacation spot; an investment for now and in the future.  Passing your beloved vacation property to future generations takes careful planning.  Not surprising, there is no one-size-fits-all planning option to ensure that this treasured real estate is protected from challenges...
3 Legal Documents Young Adults Need

3 Legal Documents Young Adults Need

Whether it be heading off to college, a gap year, or entering into the workforce, once our kids reach the age of eighteen, they enter the world as “adults” and are no longer legal minors. We can only hope that we have fully prepared our children for what lies ahead, however there is always the...
Whom Do You Trust?

Whom Do You Trust?

One of the most important aspects of creating an estate plan is selecting trusted people to act on your behalf in the event you are unable to make do so for yourself. These individuals, known as fiduciaries, carry out your wishes based on authority granted in a Power of Attorney or Health Care Proxy. The...
Planning for Long Term Care Using Irrevocable Trusts

Planning for Long Term Care Using Irrevocable Trusts

Medicaid (called “MassHealth” in Massachusetts) can help pay for long term care either at home or in a nursing home. If you think MassHealth’s assistance will be needed in your or your loved one’s future, it’s always best to plan in advance. Five Year Look-back If you apply for MassHealth benefits, the state has the...
Financial Abuse of Aging Individuals

World Elder Abuse Awareness Day is June 15th, so let’s talk about financial abuse against aging individuals – an issue that costs this population billions of dollars every year. Common types of Scams Targeting the Aging Population Technical Scams Along with the pandemic and resulting quarantine, members of our aging population have been isolated more...