When it comes to planning for the distribution of your assets after your passing, gift taxes are important to keep in mind. Gift taxes apply to the transfer of property or assets from one person to another without receiving full compensation in return. Grasping the...
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Estate Planning
What are reasons to update your business succession plan?
People update their estate plans to account for changes that affect their estate goals. Your business succession plan should not be an exception. To help ensure your company ends up in the right hands, you should alter your strategy when necessary. Here are some life...
Guiding your heirs: Protecting your estate in Massachusetts
Leaving an inheritance to your loved ones brings a sense of satisfaction, knowing that you have provided for their future even when you are no longer around. However, you might worry that your heirs could misuse or waste their inheritance, leading to financial...
Disadvantages of using downloadable estate planning forms
Would it surprise you to know that only just over one-third of American adults have any kind of estate plan? If you have not created a plan of your own, you probably have well-meaning friends and family members telling you to get one in place, especially if you have...
4 estate planning steps you should not overlook
The complexities of estate planning often lead to overlooked details. When you want the confidence that your estate plan is comprehensive, there are a few components you should address. There are four steps you should not overlook. 1. Choose a secondary executor You...
Estate planning for the terminally ill: 3 factors to consider
When a loved one receives a diagnosis of a terminal illness, such as metastatic cancer, the emotional impact is often considerable. As you attempt to help family members and the ill loved one to adjust to this new reality, the question of estate planning may come to...
What are some signs of undue influence on an elderly person?
When your elderly loved ones are crafting their estate plan, they may begin to show signs that someone else is pressuring them. This person could be directing and influencing your loved one from behind the scenes in order to get the majority of the inheritance....
Should you leave your investment properties to your children?
With Massachusetts' beautiful streams and plains, this state has a lot of potential investment properties. While these are great to have during your life, what happens to them when you pass away? When planning your estate, you need to make important decisions about...
What should you put in your will?
One of the first questions when drafting an estate plan for the first time is what does and does not belong in a will. Regardless of your age or your financial holdings, you should create a will that sets out the people who you want to inherit when you die. Even an...
When is the right time to begin estate planning?
Estate planning has value for anyone, regardless of status or age. Putting off planning until you reach certain goals is a risky move and can cause disappointment later. As soon as you reach the legal age of adulthood, begin planning. Maintaining it over time will...