When selecting a bank for estate planning purposes, one of the most critical factors to consider is whether or not the institution allows a Transfer on Death (TOD) designation to a trust. This seemingly small detail can make a significant difference in the efficiency and effectiveness of your estate plan. In my estate planning practice, […]
In the intricate dance of estate planning, one must waltz carefully around the thorny issue of taxes. Massachusetts, like many other states, imposes estate taxes that can eat away at the legacy you’ve worked so hard to build. But fear not, for in the realm of legal strategies, there exists a charming solution: the Disclaimer […]
February 2024 Losing a loved one is an emotional and challenging time, and dealing with their financial affairs can add another layer of complexity to an already difficult situation. One of the primary concerns that arises after the passing of a family member or friend is what happens to their debts. In this article, I […]
February 2024 In the realm of estate planning, the intricacies of Massachusetts law can sometimes feel daunting. Yet, there’s a powerful tool available to residents of the Bay State that can alleviate many of these concerns: trusts. Particularly, establishing a trust in Massachusetts not only allows for the avoidance of probate but also streamlines the […]
Introduction Hey there, savvy planners! Let’s talk about a nifty tool in the estate planning game: the Transfer on Death (TOD) designation for your bank accounts. The TOD designation is essentially putting a beneficiary on your bank accounts, just like a life insurance policy. They can’t access the money until after you pass away. We […]
Phew! There has been a lot of buzz lately with the new Massachusetts estate tax threshold being changed from $1,000,000 to $2,000,000 – it’s been great news for many of our clients. When you are a Trust and Estate Attorney, dealing with death and taxes are part of everyday life, we hear bad news probably […]
Many times, clients will come to me when their parents pass away and are surprised that we must go through the probate process even though they had done their estate plan, established a trust, and even funded the trust with assets. This came up very recently with a client whose mother had passed away in […]
You don’t need an estate plan – said no estate planning attorney ever. Estate plans aren’t about how much money you have, but about making an easy transition of anything you own to the rightful owners when you pass. Practically speaking, an estate plan is about making it easy for your kids, family members, or […]
About a year ago, my office implemented a Continuing Client Care program (C3 for short). The purpose of this was to continue to be of service to our clients. The program includes access to an app on your phone for your documents (who wants to carry around paper when traveling?), discounts on updates to Wills […]
You’ve done your taxes, now it’s time to get your estate plan done! Ugh, tax season is the worst! It’s so much work for the average person. You must compile so many different documents into one place, fill out endless questions from your accountant, and then more likely than not, write a big check or prepare […]
Getting old sucks. There is no way around it. We can eat as many antioxidants and exercise every day, but the fact of the matter is we all are getting older every day. And we all age at different rates. In the modern days, women have statistically outlived men. Traditionally, the men took care of […]
Whether or not your 18-year-old is college-bound, military-bound, or career bound, they are all considered adults in the eyes of the law. What does this mean? It means that you, as their parent, no longer have the right to sit in on doctor appointments, get information about their health or well-being over the phone or […]
