You might assume that you do not have enough assets to warrant the creation of an estate plan, but this can be very problematic thinking. The primary reason for this is because the state will determine what happens to your assets not you if you pass away without an estate plan. Who is entitled to… Read More »
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How Does Life Insurance Fit into An Evolving Estate Plan?
Most people don’t have life insurance or enough of it. In fact, over 30 million Americans do not have enough life insurance coverage, according to a study produced by LIMRA. In many cases, that average shortfall comes to over $200,000 but the gap is even bigger for people who earn a great deal of money…. Read More »
Why Is a Residuary Clause So Important?
In crafting your will, you probably sat down to make a comprehensive list of all of your assets and liabilities. This is so that you can create a specific bequest to your loved ones so that they receive the items you promised to them or that you intend for them to have. But a common… Read More »
What Are Probate Fees in Massachusetts?
When you pass away and a loved one or a family friend is appointed in the role of handling the estate, probate fees might apply. Common fees associated with probate in Massachusetts include probate or administrator bonds, land survey accounting or appraisal fees, services provided by a probate lawyer, if hired, and personal representative compensation…. Read More »
At What Age Should I Create a Will?
This common question is one that comes up because most people wait until they are much older to create a will. But creating a will now can help you and your loved ones in the event that the worst happens. No one wants to contemplate their own mortality but any person aged 18 or older… Read More »
Giving Someone Else Decision-Making Power Over Your Future
Failing to plan is planning to fail, the old adage says, and unfortunately far too many people learn about the failures of their estate planning when it’s too late. By choosing not to make a decision you are essentially outsourcing the decision making process to others, particularly the government. If you don’t make decisions about… Read More »
The Difference Between Pre-Planning and Crisis Planning for Medicaid
Without outside support, it would be difficult or impossible for most people to afford paying for a nursing home out of pocket. Some people mistakenly think Medicare will pick up the bill and others are hoping that Medicaid benefits will kick in quickly. The truth is that you have options to plan well in advance… Read More »
What Makes Elder Law Different?
If you are concerned with the financial or health welfare of an older adult in your life or are interested in protecting this for yourself, you may need the services of an elder law attorney. Elder law is a focused area of the law that is specifically related to the legal needs of older adults…. Read More »
What Is the Role of a Trustor?
The creation of a trust can help you provide further privacy to your estate planning strategy and give you more flexibility and control. These can help your family also avoid the probate process which can be lengthy and confusing. There are many different terms that come up in the process of creating a trust and… Read More »
What Dementia Caregivers Should Know About Burnout
When your family member is diagnosed with dementia, there are many considerations and questions that must be answered as soon as possible. When immediate nursing care in the home or elsewhere isn’t an option, it’s family caregivers who fill the gap for dementia patients. Providing care for a loved one is an overwhelming experience no… Read More »