The common advice when crafting an estate plan is to make the distribution of inheritance equitable. Essentially, make sure that all of your children get roughly equal parts of the pie. This is generally good advice to help lessen the chance that one of your children...
Albanese Law, LLC
Third-party special needs trusts offer these 2 benefits
When you live in Massachusetts and have a child with special needs, you may need to take additional steps during estate planning to make sure your actions do not impact your child’s eligibility for government assistance. Individuals with disabilities need to undergo...
There are warning signs of financial exploitation of the elderly
One of the most underreported forms of elder abuse in Massachusetts is financial exploitation. Your loved ones spent their lives building their lives and assets. Do not let someone take advantage of them by scamming them out of their life’s work. The Massachusetts...
Getting ahead of the curve with Medicaid planning
No likes to contemplate aging or their own mortality. But to get the most out of your senior years requires planning while you are still young and healthy.When you are thinking about applying for Medicaid, it is important to plan far ahead in advance. This is because...
Estate planning mistakes to avoid as you age
You'll have a lot on your mind as you age. Although you may have created an estate plan many years ago, it doesn't necessarily mean it can remain the same into the future.As you get older you should get into the habit of reviewing your estate plan at least once a...
Protect your pooch with a solid pet trust
You adopted your dog later in life, and you know there's a possibility that you could outlive him. While you do have family members that have said they'd take him if you passed away, you want to guarantee that will happen. The last thing you want is for your beloved...
How getting remarried affects your estate plan
You're older, and you know that getting remarried wasn't always in your plan. Despite that, you've found a partner you can't live without, and you'd like to make it official.One thing you should think about before tying the knot is your estate plan. When you get...
Understand revocable trusts and what they can do for you
Trusts are an important tool for estate planning. Understanding how to use these trusts is important because any mistake that is made with a trust could be a very costly error. It is imperative that you think carefully about the type of trust that you are setting up....
What are the upsides to an incentive trust?
You're thinking of drafting an incentive-based trust. You've even taken the wise step of talking it over with your heirs -- a son and a daughter -- in advance. You know that having the conversation early often staves off disputes and disagreements in the future.The...
Top reasons you should create a trust
Many people think that once they create a will, they have done everything they need in order to ensure their legacy passes on according to their wishes. Unfortunately, a will may not protect your final wishes as much as you would like. In order to protect the wealth...
