Death is a subject most people prefer to avoid thinking or talking about. Despite the discomfort, planning for what will happen to your estate after you pass is a concern every adult should address. There are many documents that may go into your estate plan depending...
Boston Elder Law Blog
Who makes a good special needs trustee?
Establishing a special needs trust may be one important part of long-term care planning. This type of trust holds funds for the use of the beneficiary without jeopardizing his or her eligibility for means-tested government assistance. When forming a special needs...
The difference between irrevocable and revocable trusts
A trust is a legal entity that you create while you are still living. The whole purpose of a trust is to transfer your assets as seamlessly as possible to your beneficiaries when you pass away. Trusts are generally preferable to wills alone because they avoid probate...
Understanding the Massachusetts probate process
When planning your estate, you should understand the factors that govern probate in Massachusetts. Probate is the court-approved process of settling your final expenses, taxes and debts along with distributing property to your heirs. Review these probate...
What is a simple will?
Many Americans believe that estate planning is best left to the golden years. However, no matter how old you are or how many assets you currently possess, everybody can benefit from an estate plan. Of course, if you are on the younger side and do not have as much in...
How should you tackle estate plan review?
Your estate plan has many different parts to it. Because of this, the idea of doing a full review may seem like an enormous feat. This is especially true if you plan on taking expert advice and doing a review every 3 years. Fortunately, you do not have to review every...
What is a legal guardian?
If you are like most parents, it is difficult to imagine someone else raising your children. You want to be there for every milestone through childhood and into adulthood. Unfortunately, there are circumstances where you may need to consider appointing a legal...
Preserving means-tested benefits with a special needs trust
If you have an adult child who has a disability, you may want to use your estate plan to make life easier for him or her after your death. If you gift cash or other assets to your child, you may inadvertently harm his or her eligibility for Supplemental Security...
How do trusts work?
When you create your estate plan, you have a wide variety of tools that you can use to ensure your heirs receive the assets that you want. One of those options is a trust. SmartAsset explains that a trust is a financial tool that gives you control over the assets you...
Medicaid planning considerations in Massachusetts
Planning for long-term care before you need it can improve your chances of Medicaid eligibility. As you approach retirement age, you may want to learn more about Massachusetts' income and eligibility limits for the state's Medicaid program, known as MassHealth. Review...