As a parent or grandparent, it is natural to have concerns about your beneficiaries’ ability to effectively manage money. Certain beneficiaries in Massachusetts might not be capable of responsibly handling assets. If you also have family members who might be trusted with assets and you’re concerned about mixing these heirs together in your estate plan,… Read More »
Posts Categorized: Trusts
What Is the Burden of Proof When Challenging A Will or Trust in Massachusetts?
There are not many situations in which an individual could have grounds to challenge a will or trust in Massachusetts. However, as a person putting together your estate planning documents and planning ahead, it is important to understand the steps that you can take with the help of your attorney to decrease the chances of… Read More »
Why Are Revocable Trusts Some of The Most Flexible Tools in Estate Planning?
There are many different items and strategies you might use inside your financial planning tool kit. Far too many people brush off using revocable trusts because of the perception that trusts are only for the rich and famous. Since so many people do not have a taxable estate under the new federal estate tax exemptions,… 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 »
Do You Have Your Most Important Papers Protected?
The news has been filled with plenty of stories about devastating and tragic events that have forced people out of their homes suddenly. This is why it’s so important for everyone to have a plan for how they will access their important documents and information if they are suddenly forced out of the home and… Read More »
What Trusts Can Help You Accomplish
There are many types of trusts, capable of helping you accomplish a variety of goals. However, when most people think about trusts, a Revocable Living Trust is the one they have in mind. A Revocable Living Trust allows you to maintain complete control over your assets while you are alive and after you have… Read More »
The Dangers of Improperly Funding your Revocable Trust
A revocable trust is an extremely popular estate planning tool that can help you plan ahead for your future. It is critical to ensure however that the trust has been appropriately funded. There is significant advantages associated with using a revocable trust, such as avoiding probate and asset management. However, you’ll never be able to… Read More »
What You Should Know About Charitable Trusts
If you are intending to leave assets behind to a charity, you should consider working directly with an experienced estate planning attorney to help make sure your gifting is done in the way you want. For example, charitable contributions to a trust allow you to pass on assets to a charity but also have significant… Read More »
What Lessons Can Be Learned from David Bowie’s Estate?
David Bowie left a major mark on the music industry but he also left behind approximately $100 million to his family members, according to the BBC. While his will outlines that each of his children will receive 25% of the estate, his youngest child is not legally allowed to inherit money yet. Since his daughter,… Read More »
A Look at a Few Common Trusts (And How They Help)
The Motley Fool recently issued a new article dispelling the myth that trusts are only for wealthy families with walk-in vaults and rivers of gold. The truth is that trusts have become an essential building block in today’s middle-class and working-class estate plans. View image | gettyimages.com Trusts can save everyone money, heartache, hassle, and… Read More »