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October 2013 Archives

Using a living revocable trust in Massachusetts estate planning

It isn't only rich people that can benefit from using trusts. As an estate planning tool, they can be useful to anyone in Massachusetts with assets such as real estate, life insurance policies, retirement accounts and any other assets that will eventually passed on to heirs. A living revocable trust can be drafted and executed to keep those assets out of probate, reduce tax liability and otherwise protect the assets.

Debt could affect division of assets after death in Massachusetts

After a death in the family, the surviving members typically have much to deal with. If the deceased took the proper steps to establishing a will before their demise, it may be easier for the estate to handle the concerns left behind after a death. Typically, one of the most common issues dealt with is the division of certain property. However, before assets are divided, it is important to ensure that any remaining debts have been taken care of.

Confused about long term health care planning in Massachusetts

Most Americans believe that there is a need to plan for long term care. However, very few people actually follow through with long term health care planning. There are many misconceptions about how long term health care is paid for by a lot of Americans, including many in Massachusetts.