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 »
Posts Categorized: Estate Planning
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 »
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 »
How to Know When Someone Needs a Nursing Home
As a family member, one of the most difficult decisions you can ever make is when to place a loved one in a nursing home. This is because it’s very hard to remove someone’s independence from their life, and it’s especially challenging when you and this other person don’t agree that a nursing home is… Read More »
What Final Bills Will Get Paid Out of My Probate Estate?
One of the most important steps that happens after a personal representative is appointed to your case, is the determination of date of death values. All assets that you owned inside your probate estate must be valued so that they can be liquidated to raise cash, to pay for debt taxes, debts, and expenses. It… Read More »
How to Do an Estate Planning Checkup
An estate planning checkup is your opportunity to review your life circumstances and the existing strategies and documents you’ve pulled together to protect your interests while you’re alive and your assets after you pass away. Estate planning is essential to ensure that everything you have worked so hard to obtain and protect over your lifetime… Read More »
10 Goals You Can Achieve with the Process of Estate Planning
Estate plans do not fit a general rule of one-size-fits-all. Your goals will influence what kind of estate planning documents you’ll need. If you have children, for example, you’ll want to be sure to appoint a guardian and conservator. If you want to maintain control over assets after you pass, then you will want to… Read More »
Does Anyone Have Personal Liability for Debts in an Estate?
When a loved one passes away it can generate a lot of financial confusion. This is especially true as different credit card companies, medical billing agencies, and other creditors need to be notified about the deceased’s passing. In these circumstances it can raise difficult questions around whether or not anyone else is responsible for the… Read More »
Which Assets Are Not Subject to Intestate Succession?
Some assets do not pass through a will. This is because every state has intestate succession laws which allow property to be passed on to surviving family members in priority order even when no will exists. Typically only blood relatives and spouses are eligible to inherit under intestate succession laws. This means that charities, friends… Read More »