A life estate is a legal arrangement that grants an individual, known as the “life tenant,” the right to live in and use a property for the duration of their lifetime or the lifetime of another specified person, called the “remainderman.” In Massachusetts, as in many other states, a life estate can have implications for… Read More »
Posts Categorized: Estate Administration
What Is The Difference Between Dying Intestate vs. Testate in Massachusetts?
Planning for the inevitable is a crucial aspect of life, and estate planning plays a pivotal role in ensuring your assets are distributed per your wishes after your passing. In Massachusetts, as in many other states, individuals have two primary options for managing their estate: dying intestate (without a will) or testate (with a will)…. Read More »
How Do I Protect My Loved One`s Inheritance?
Planning your estate is about distributing assets and confirming that your loved ones are taken care of in the best possible way. Sometimes, you may be concerned about a beneficiary who may not have the financial discipline to handle a substantial inheritance responsibly. In such cases, Massachusetts offers various estate planning strategies to protect and… Read More »
How Do I Plan For A Future with Alzheimer’s Disease?
Acquiring a diagnosis of Alzheimer’s disease can be overwhelming, both for the person diagnosed and their loved ones. While the journey ahead may seem uncertain, it is important to take proactive steps to ensure that your needs will be met in the future. Planning early can significantly improve your quality of life and reduce the… Read More »
A Guide to Understanding Probate in Massachusetts
Probate is the legal process through which a person’s estate is administered, and their assets are distributed in accordance with the law. Probate can be a complicated and lengthy procedure, but understanding how it works can help you navigate it more effectively. In this article, we will provide you with a guide on how probate… Read More »
What is the Significance of the Increase in Estate Tax Exemption in Massachusetts?
The increase in the estate tax exemption in Massachusetts carries significant implications for residents of the state, the state’s economy, and its fiscal policies. The estate tax exemption is the threshold at which an individual’s estate becomes subject to taxation upon their passing. What does this change mean to you? The increase in the estate… Read More »
Selecting the Right Helpers for Your Estate Plan in Massachusetts A Guide
When making an estate plan, one of the most critical decisions is choosing who will carry out your wishes after your passing or act on your behalf if you become incapacitated. This decision demands careful consideration and understanding of the legal landscape in Massachusetts, which we at O’Connell Law have. Today, we’ll delve into the… Read More »
Asset Protection in Massachusetts Estate Planning: Safeguarding Your Legacy
When you think of estate planning, you probably think of drafting a will or specifying who will getyour assets after your passing, but estate planning goes deeper than that. It involves acomprehensive strategy to protect your wealth, ensuring your loved ones receive their rightfulinheritance while minimizing potential risks, such as taxation and creditor claims. In… Read More »
Navigating Estate Sales in Massachusetts: A Guide for Heirs
Estate sales are an essential part of settling the affairs of a loved one in Massachusetts. Thesesales liquidate assets and possessions, ultimately distributing the proceeds amongbeneficiaries. Understanding how estate sales work is crucial, as it can help streamline theprocess and ensure an efficient and fair distribution of assets. In this article, we will guide youthrough… Read More »
Timing Matters: The Best Age to Start Estate Planning in Massachusetts
Estate planning is a crucial financial and legal process that provides peace of mind, ensures the orderly distribution of assets, and minimizes potential complications for heirs. However, many people in Massachusetts often wonder when the ideal time is to embark on estate planning. This article will discuss the best age to start estate planning in… Read More »