If you become the personal representative of an estate, you may wonder how complicated the job will be. Fortunately, you do not have to perform your duties single-handedly. You can seek help from professionals experienced with the different tasks you face. First...
Albanese Law, LLC
Estate planning: 3 options for reducing Massachusetts estate tax
As of 2021, the federal threshold for paying estate taxes for $11.7 million for single individuals or unmarried couples and $23.4 million for married people. However, the limit for Massachusetts is only $1 million dollars, so if your gross estate (including adjusted...
Should you plan your estate while expecting a child?
When you are expecting a child, it is easy to feel like that is where all of your time and attention should go. After all, preparing for a child in your life takes a lot of effort and advanced planning. But at the same time, this is the last period of time in a long...
Is an undue influencer trying to steal your inheritance?
Your parents worked hard throughout their lives to build wealth. While your mother and father likely have enjoyed the benefits of their fortune, they also may have promised you an inheritance. If your parents' estate plan has changed recently, an undue influencer may...
Dividing your company between heirs
If you run a company, then you have different options available when it comes to dividing it between your heirs. You may choose to divide the company equally, distribute unequal portions or give parts of it to some heirs and not others. Consider the circumstances The...
Healthcare and financial POAs offer benefits beyond the obvious
Medical and financial powers of attorney are documents that provide essential legal abilities for an agent acting on behalf of the principal. However, each POA also provides many advantages in making life easier for the principal. Primary goals A power of attorney is...
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...
Who makes a good health care proxy?
Even if you have enjoyed good health throughout your life, you may eventually suffer a catastrophic injury or develop a debilitating illness. If that happens, you may not be able to make medical choices for yourself. Still, you probably feel uncomfortable with losing...
Benefits of estate planning
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...
Do I really need a health care proxy?
We all like to think that we’ll be hale and hearty until the end of our days. For many of us, just thinking about becoming terminally ill, being in a serious accident, or losing ourselves to a degenerative disease can be too much to bear. Sadly, though, ongoing good...
