Boston Elder Law Blog

Creating an estate plan is something that many people are guilty of putting off. A significant number of these people, including many Massachusetts residents, may believe that they do not need one until they achieve a certain amount of wealth. However, anyone can benefit from creating a will. Family members or other potential beneficiaries of people who die without written wills may find it difficult to receive their rightful inheritance.

Normally, a will would dictate who the beneficiaries are, how assets are to be divided and who is to take over obligations like mortgage payments. For example, when a person dies, his or her will might indicate that his or her home is to be left to a family member to be sold or to live in. If two people jointly own or are joint tenants, then the full ownership of the property will most likely be transferred to the survivor. However, if the property is not jointly owned and the decedent has no will, then the property will be transferred according to state law. 

Online assets are becoming more common as technology advances.What happens to cryptocurrency, like bitcoin and ethereum, after the account holder dies? In Massachusetts and elsewhere these currencies can be included in wills, but what other steps might be necessary for heirs to redeem them?

Every year billions of dollars in cryptocurrency are lost. It was recently estimated that around 20 percent of bitcoin goes unclaimed after the original owner's death. Providing detailed information about the account can help both the beneficiaries and the executor of the estate locate the assets. This includes providing usernames and passwords to these accounts, and the amount of currency contained in each one. 

There are adults across the country who are under the care of another due to a wide variety of health problems or old age. These caregivers are often in charge of helping their wards around their homes as well as helping to pay bills. However, as some Massachusetts residents may know, some of these caregivers take advantage of the incapacitated adults whom they are supposed to help.

One woman was charged with the care of a 91-year-old woman with a dementia-related illness, but instead of caring for her, the woman chose to steal from her employer. During the one month the woman was employed in 2017, the family noticed that several of the elderly woman's belongings began going missing. Sometime during October of that year, another family member called the authorities about the missing items. When the Sheriff's Office checked the caregiver's Facebook page, they saw several pictures of items that the woman intended to sell at an antique mall, which were identical to those that her elderly employer was missing.

The internet has become much more than a form of entertainment over the years. In addition to individuals sharing the things that they like and their experiences online, many businesses rely on social media to advertise. Some people, as many Massachusetts residents may already know, even make a living posting on social media through the support of sponsors. More and more people are also paying bills digitally and storing important information online. This may present some problems when it comes to estate administration. 

It isn't only financial accounts or business related accounts that are important. Personal accounts, like Facebook or e-mail accounts, can also hold very important information. However, it can be very difficult for executors or family members to access this information later. Even with access to the account usernames and passwords, the website's policies may prevent anyone other than the account owner from accessing all of the account information.