In many ways, creating a document designating powers of attorney for your estate plan can be beneficial. For example, you can grant a reliable individual the ability to make important decisions related to your finances when you are incapable of doing so. Learning...
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Boston Elder Law Blog
What figures into financial eligibility for Medicaid?
If you are looking into long-term care Medicaid programs, you should understand how the program will assess your income and assets. Medicaid is a need-based program that relies on your finances to determine eligibility. The state will want a complete rundown of all...
What should new parents know about guardianships?
When you become a new parent, there are many things you can do to protect your child's future. Naming a guardian can give you a voice in who cares for your children in case something happens to you and your spouse. It can be beneficial for new parents to learn about...
Creating a trust for a child with an uncertain disability
Some children cannot earn a living as adults due to a disability. However, you might not know for sure if your child will be incapable of holding down a job and living alone. Some people retain their independence in spite of a disabling condition. Many parents of...
How can you include your business in your estate plan?
With an estate plan, you can get rid of any concerns you might have about what could happen to your assets after your death. You can even easily incorporate your business interests into your plan while you are at it. Create a succession plan First, you can use your...
The importance of estate plan reviews
So much of the estate planning focus is on the initial process and completing the paperwork for the first time. Unfortunately, this creates a false sense of security once you finish the plan. Whether you are new to estate planning or you finished your documents some...
Understanding the drawbacks of online estate planning forms
Estate planning is an essential part of aging and preparing your finances and legal decisions. If you are new to estate planning and trying to gather the documents that you need, using a downloadable package of forms that you just fill out might seem tempting. Using...
How can you ensure your money stays in the family?
Most people who build wealth throughout their life want to share it with their families. They want to leave a legacy for their children, grandchildren and descendants. If you have substantial wealth or assets, you may wonder how to ensure that your heirs receive their...
Planning your estate to avoid probate
Estate planning can be as elaborate or as simple as you need. However, ensuring your plan allows your family to avoid probate will allow them to bypass court costs and lengthy delays. Consider the ways Massachusetts law allows you to skip the probate process. Create a...
What should executors need to know about state estate taxes?
Part of your duties as an estate executor is paying taxes. You not only have to file the last tax return for the individual if he or she does not have a spouse to file but also you must file a tax return for the estate. Estate tax filing must be done if the value is...