Most people want to put off any conversations or tasks related to their own immortality or potential incapacity. While this is a natural response for plenty of people, it’s a dangerous one that could leave you or your loved ones at risk of facing unnecessary challenges. Last minute estate planning puts you and your loved… Read More »
Posts Categorized: Estate Planning
Should I Choose an Executor Outside of My Family?
A lot goes into the process of serving as an estate executor in Massachusetts (formally known as a personal representative), so you need to be clear about the person you select to serve in this role and make sure you’ve selected the right individual for the job. There are three primary factors you should be… Read More »
What If a Personal Representative Does Not Want to Serve in an Estate?
If you have been named as the executor of another person’s estate this does not mean that you must serve as the personal representative. You have a choice about being appointed in this role and since the court does still need to appoint you, it’s a good idea to get legal counsel and discuss what… Read More »
What is Breach of Fiduciary Duty?
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 »
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 »