If you’ve spoken to any estate planning attorney or started research of your own, there’s a good chance that you’ve uncovered these two basic tools: a power of attorney and a last will. Together, these documents form the foundation for your overall estate plan. However, they do not accomplish the same goals and a comprehensive… Read More »
Posts Categorized: Estate Planning
What Can a Financial Power of Attorney Agent Do?
Your power of attorney is an individual that you choose to make decisions on your behalf and take actions in your stead (your “agent”). It’s up to you as the principal or creator of this document to determine exactly what powers you wish your power of attorney agent to have in Massachusetts. Here are some… Read More »
Baby Boomers: Invest in Your Children and Grandchildren with Estate Planning
Giving a gift to your children and grandchildren through your estate planning is an important goal for many baby boomers and given the vast amount of wealth that is anticipated to be transferred over the next several decades, this is something you can’t afford to forget about. According to a recent study, more than two… Read More »
What is Informal Probate in Massachusetts?
As we’ve discussed in one of our blogs in the past, not all assets are subject to probate. Likewise, not all estates must be processed through the formal probate procedures in Massachusetts. In short, informal probate involves very limited court oversight. The process can be expedited if there are no objections by interested parties and… Read More »
What Are the Three Biggest Benefits of Establishing A Living Trust?
You probably already know how important a trust can be for your estate planning. When you want flexibility and control, turn to trusts. But determining which type of trust you intend to use is difficult, especially if you don’t yet have a trusted estate planning attorney. One of the most common types is known as… Read More »
When Celebrities Get It Right: An Important Estate Planning Lesson from Burt Reynolds
Unfortunately, far too many celebrity estate planning mistakes were completely avoidable but became a matter of public record due to the way in which the celebrity planned or failed to plan for their future. Amy Winehouse, Prince, and Aretha Franklin are just a few examples of unfortunate estate planning failures. However, when Burt Reynolds passed… Read More »
What Are a Will Executor’s Responsibilities in Massachusetts?
Since your will’s Personal Representative (formerly known as an Executor) holds an important position in the distribution of your estate, you need to put careful thought into the selection of this agent. If a will submitted to probate court names an Personal Representative, the court awards that person “letters testamentary.” This is the official paperwork… Read More »
What’s the Real Meaning of Your Estate Plan?
An estate plan does encompass what you intend to happen to your belongings after you pass away, but this often leaves out the important consideration of what you intend to happen while you’re still alive. The best and most comprehensive estate plans consider what you want to do while you’re still here and the legacy… Read More »
These Are the Biggest Estate Planning Mistakes Made by Divorcing Women
Women getting a divorce have many different things to contemplate and think about. Divorce is never an easy time and can be a significant adjustment for most people. Women in particular find that they are most significantly affected by the financial aspects of divorce. A recent study completed by UBS Global Wealth Management showed that… Read More »
Estate Planning Should Be A Family Affair
If estate planning related only to your numbers, it wouldn’t be one of the financial and legal tasks that most people avoided. It can be difficult to put together an estate plan because it involves confronting your own mortality, but it also raises questions and forces you to make difficult decisions about who will receive… Read More »