In Massachusetts, a spendthrift trust is an essential estate planning tool that offers a strategic approach to managing your financial assets and the well-being of your beneficiaries' finances. This vehicle can provide peace of mind that your heirs will receive their...
With estate planning, deciding who will be your executor is incredibly important. This person's job will be to carry out your final wishes and ensure that your estate gets handled according to your wishes. Selecting the right executor can ensure that your instructions...
Although blended families are more common than in previous generations, they can create some unique estate planning challenges. Failing to take them into account could result in your children or grandchildren getting nothing from your estate. It could also result in...
Completing an estate plan can feel like a big accomplishment. For many people, it is not the most pleasant of tasks, and it can be tempting to put it away and consider it done. However, there are a number of reasons that Massachusetts residents need to review their...
Beneficiary designations are the pivotal part of an estate plan in Massachusetts, yet people still tend to overlook it. Here are some mistakes people make when naming their beneficiaries. Not communicating your plans to your beneficiaries The essence of estate...
Estate planning is a great way to ensure that your loved ones in Massachusetts remain financially secure after you're gone. It's also an effective way to communicate your wishes for your estate's distribution among your heirs. However, there are a few things to keep...
Medicaid programs help those with limited resources and income connect with medical treatment. In Massachusetts, those who qualify for Medicaid will receive MassHealth benefits. Those living on a limited income or unable to work at all can count on MassHealth to cover...
Your personal property and financial accounts will pass to the people that you love after you die. Your estate plan lets you control who receives what from your estate. In theory, you could earmark certain assets for specific people. Unfortunately, many people become...
To some people, estate planning just means creating a last will. To many others, the process involves multiple steps, including setting up a living will. Your living will is a collection of documents you make now that will protect you in the event of some kind of...
It is a conversation no one is comfortable having – discussing end-of-life decisions with your aging parents. Unfortunately, while it is uncomfortable, it is also necessary. Dying without a will or becoming ill without estate planning documents in place can lead to...
