These are tumultuous times to be an undocumented immigrant in America. If you or a loved one is undocumented, questions and fears may be constantly running through your mind. In addition to any worries you have about what will happen next week or next month, you may struggle with those same end-of-life questions that plague […]
Billed as a way to help Americans expand their retirement savings, the Setting Every Community Up for Retirement Enhancement (SECURE) Act may prove to cut both ways. The SECURE Act, which passed the House of Representatives on May 23, 2019 and was signed into law by President Trump on December 20, 2019, went into effect […]
When pop icon Prince died in 2016, he left behind an estate worth at least $200 million. Three years later, his estate is still unsettled and it’s believed that his closest family members have not yet received any inheritance. Why? Because Prince died intestate, or without a valid will. This is where intestacy laws come […]
Could a credit shelter trust help you preserve wealth to pass on to your loved ones? It’s possible. In basic terms, a credit shelter trust is a type of trust used by married couples to minimize estate tax liability and preserve assets for their descendants. In states with high estate tax thresholds, this type of […]
Establishing a trust but failing to fund it is like opening a bank account without depositing a single penny. Your trust may be worth nothing more than the paper it’s printed on until it’s funded. Funding is simply the process of transferring assets into the trust. Those assets aren’t protected by the terms of the […]
Few diagnoses are more devastating than dementia. With 10 million new cases each year, this syndrome touches many families. When your parent is diagnosed with dementia, many things are out of your control. Managing your parent’s healthcare, home management and estate planning needs is a concrete way to help.
Your home: It’s where you’ve made precious memories, and it’s probably the most expensive thing you own. Who do you want to take ownership of it when you die? Property has major emotional and financial attachments, which is why it’s at the center of many inheritance disputes. Putting property in a trust is one way […]
They’re both legal documents, and they can both be used to protect your assets and provide for your loved ones. Wills and trusts are equally important tools for estate planning, but many people are vague on the differences between them. The first thing to know? Wills and trusts aren’t mutually exclusive. You might need both.
Estate Planning: Essential Documents for Young Adults At 18 we feel invincible, and like our life is just beginning, so planning for seemingly impossible what-ifs might seem unnecessary. But life is nothing if not unpredictable. 18 is an age when we want to feel in control but often also feel secure under the parent-child relationship, […]
If only he had saved more. If only she had invested in this fund instead of that one. If only he had picked the right lottery numbers. As attorneys specializing in long-term care planning, we see clients grapple with those “if-onlys” all the time. They’ve reached a point at which they need long-term care, but […]
In some contexts, $2,000 seems like a lot of money. Winning $2,000 on a lottery ticket or earning an unexpected bonus would be enough to finance a dream trip or pay off a major bill. But if you’re 65 and thinking about your end-of-life needs, having only $2,000 in the bank would be terrifying. Looking […]
Adding your child to your bank account seems like common sense so they can help with paying bills. This is convenient, but what people often don’t realize is that the child will have more authority than to just sign checks. Adding your child to your bank account means that they legally own half of the […]
Over the past several years, Massachusetts law makers have worked hard to improve the probate code to reflect issues faced by the modern day family. Once such update created a Pet Trust statute. Pet Trusts are a specific type of trust that allows you to leave money to be used specifically for the care of […]