According to a study of 15,000 millennials, roughly 60% stated that they don't have a will or trust. These documents can be used to determine who gets a Massachusetts home or other assets after you pass away. It's recommended that everyone create an estate plan upon...
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Estate Planning
Preparing for lower estate tax exemptions
Many Massachusetts are revisiting their estate plans. That is because the federal estate and gift tax exemptions will be significantly reduced in 2026. These exemptions were almost doubled when the Tax Cuts and Jobs Act was signed into law in 2017, but the increase...
Three important reasons to include advance directives in your estate plan
When you’re young, you might think you have plenty of time to create an estate plan in Massachusetts. That’s not the case, especially if you’re in a relationship. Anyone can fall victim to an accident or illness at any age. Your family needs a clear plan to follow...
Understanding the mechanics of a spendthrift trust
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...
What should you look for in an executor in Massachusetts?
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...
Estate planning after remarriage
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...
Reviewing and updating your estate plan
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...
Pay attention to beneficiary designations in Massachusetts
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...
Avoiding the top 3 estate planning errors
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...
The state wants full repayment from all MassHealth recipients
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...