If you’re reading this article, it’s because you already know that a trust can be a great tool for accomplishing the transfer of assets and supporting your estate plan. But setting up the trust in and of itself is only the first step- your trust can only execute your goals if it’s properly funded. A… Read More »
Monthly Archives: December 2020
What Professionals Do I Need to Meet with In Creating My Estate Plan?
Tax and financial matters in planning your estate can become increasingly complex especially as you get older or accumulate more wealth. Certain professionals will offer the expertise, skills and support to help you create estate plans and it goes beyond having a relationship with an estate planning attorney. Some of the professionals that you’ll need… Read More »
What You Need to Know About Retiring in Massachusetts
Where you decide to retire has an impact on your ability to receive affordable long term care support, the taxes you’ll pay and your overall lifestyle in retirement. That’s why it’s important to weigh the different states you are considering moving to or making your permanent residence carefully. Massachusetts is one such state that frequently… Read More »
Have You Discussed Incapacity Documents with Your Family This Holiday?
Holidays look different in 2020, meaning that many people are taking this opportunity to keep their loved ones updated virtually. It can be difficult to have conversations around estate planning regardless but it might be easier to broach these topics virtually, specifically when it comes to documents around potential incapacity. Estate planning incorporates a broad… Read More »
These Are Some Of My Favorite Things….
I was late this year in putting up our holiday decorations. It wasn’t because I was too busy or was away, I just wasn’t in the mood. Without the usual festivities and being with family, it wasn’t on the top of my list. In fact, it wasn’t on my list to do – I was… Read More »
O’Connell Law LLC Named a 2020 Law Firm 500 Honoree
For Fastest Growing Law Firms in the U.S. Over the past 10-years, our team at O’Connell Law, has been dedicated to providing excellence in customer service resulting in many happy clients. In doing so, our commitment and focus has taken us on a fabulous journey of growth – both personally and for our business. We… Read More »
Did You Know Medicare Doesn’t Cover Most Long Term Care?
What happens if you or a loved one need to stay in a Massachusetts nursing home? Do you have a plan? If you are planning ahead for the future of your older years and are assuming that Medicare might pick up the tab, if and when you need a nursing home, that’s not always the… Read More »
Should We Be Worried About Estate Tax Changes Under A New Administration?
It is not unusual to have at least some tax law changes when a new administration takes over. We’ll focus here on potential estate tax changes that may happen under President-Elect Biden’s administration. Under the Tax Cuts and Jobs Act of 2017 (TCJA), the federal estate tax threshold is at $11.58M (for 2020) and $11.7M… Read More »
Should You Discuss Financial or Estate Concerns with Your Family?
It can be difficult to have conversations around money with your family but the recent pandemic might have already highlighted this within your own family in giving you a roadmap for how to proceed. Having these more intimate financial discussions can help clear up areas of confusion and when done properly, can bring your family… Read More »