An executor (formally known as a personal representative in Massachusetts) is a person appointed to handle the administration of your estate. When they violate specific laws or ethical considerations this may count as a breach of fiduciary duty. A breach of fiduciary duty dispute occurs when a person who is responsible for managing a will,… Read More »
Posts Categorized: Estate Planning
Reasons to Use a Memorandum of Trust
If you’ve chosen to create a revocable living trust as part of your estate plan, this affords a great deal of privacy, which can be amplified by creating a memorandum of trust. This memorandum is a synopsis of the entire trust document which allows assets to be transferred inside the trust while also preserving the… Read More »
Tips for Advanced Planning for a Person with Dementia
The rate of decline in dementia can make it very difficult to accomplish your estate planning outline and strategies once your diagnosis has already progressed. The tips in this article should give you some insight over how you can plan well and advance in the early stages of when someone appears to be showing the… Read More »
Do We Need a HIPAA Authorization Form as Part of Our Estate Plan?
Did you know that without some advance planning, you might not be able to receive information about a loved one’s medical care and status if they’re unable to speak for themselves? While no family wants to wind up in this situation, it can happen easily if your loved one is unconscious, enters a coma, or… Read More »
How Is Incapacity Evaluated in MA?
Incapacity is an important term as it relates to estate planning. The existence of a power of attorney enables you to authorize someone else to make medical decisions on your behalf if you are incapacitated and unable to do so. Many estate planning instruments like this become active when the person who created it becomes… Read More »
Study Discovers Impacts of Pandemic and Retirement Saving on Women
A recent study has found that many women have been severely impacted by the pandemic. However, investment levels for female investors contributing to their workplace retirement accounts increased dramatically and hit record levels in the last quarter of 2020. In fact, the average 401(k) savings rate for women in the last quarter of the year… Read More »
Do You Have Loose Ends with Your Estate Plan?
It is crucial to protect your finances, your family and yourself with a well drafted estate plan. Although it is advised that everyone over the age of 18 have a will that is properly drafted, fewer than one third of Americans actually have an estate plan in place. The event of your unexpected passing can… Read More »
How Long Does Probate Take in Massachusetts?
The complexity of any individual estate will determine how long it takes to get through probate. The time necessary to probate a will in Massachusetts will depend on numerous factors, particularly how involved the Internal Revenue Service is with regards to settling or closing out an estate. You will want to be prepared to speak… Read More »
Is It Wise to Name More Than One Executor?
An executor or personal representative is the person who is appointed to manage aspects of your estate once you pass away. It can be very difficult to determine who to instill in this role, leading some to think that the right next step is to name more than one executor to their overall estate. This… Read More »
When Should I Use a Limited Power of Attorney?
A limited power of attorney can be used for a number of different situations in which you are unable to be present or take action for an event. There are a couple of different examples when a limited power of attorney in Massachusetts could be useful. The first of these is if you become physically… Read More »