For Massachusetts residents looking to preserve wealth and provide for future generations, dynasty and generation-skipping trusts offer valuable benefits. Understanding the advantages of dynasty and generation-skipping trusts is helpful for estate planning. It can...
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Boston Elder Law Blog
Providing for your disabled adult child after your death
When considering the future, parents of disabled adult children face unique challenges in ensuring their well-being. Planning is key to securing a stable and supportive environment for them. With careful consideration, you can pave the way for a more secure future for...
Probate vs. non-probate assets
When a person passes away, heirs and beneficiaries receive their assets through the legal process of probate. However, not all assets must go through this process. Understanding the difference between probate and non-probate assets can help to prepare for the probate...
When and how to update your revocable trust
A revocable trust is a valuable tool in estate planning, allowing you to manage your assets during your lifetime and distribute them according to your wishes after you pass away. However, you need to periodically review and update your trust to ensure it continues to...
Considerations for including pets in wills
Many families consider pets beloved family members. It is no wonder that some owners want to include them in their wills to ensure their care after the owners pass. However, including a pet is not the same as including another person. There are special considerations....
How can conditional gifts in a trust help you and your family?
The concept of conditional gifts in trusts plays a big role. Understanding the dynamics of these gifts can empower individuals to craft a legacy that aligns with their intentions. Conditional gifts in trusts represent a strategic approach to wealth distribution. They...
3 key differences between revocable and irrevocable trusts
When considering estate planning options, trusts are valuable tools for managing assets and providing for loved ones. There are two common types of trusts: revocable and irrevocable trusts. Each has distinct characteristics and benefits. Understanding the key...
4 reasons to incorporate long-term care into your estate plan
As individuals age, the importance of incorporating long-term care planning into their estate becomes increasingly evident. Foresight in addressing potential healthcare needs can significantly impact financial stability and family well-being. 1. Financial security in...
What are some mistakes to avoid during probate?
Probate can be a complex process, often requiring careful navigation to ensure a smooth settlement of a deceased person's estate. Unfortunately, individuals can make mistakes that may lead to complications or delays. Understanding these pitfalls can help a person...
How to use an international property to reduce estate taxes
When it comes to managing estate taxes in Massachusetts, exploring strategic options is key. One avenue worth considering is leveraging a qualified personal residence trust by incorporating a property situated in another country. This strategy is sometimes viable for...