August 2023 Newsletter
Legal Lines News
Estate Planning and Elder Law
AUGUST 2023
Personal Guidance from beyond the Grave
As a parent, you have likely pictured what your child’s future will look like, but how many times have you considered what would happen if you were unable to be a part of their future? This is a sad thought to consider for everyone, however, taking steps now to put a plan in place can offer you peace of mind so that if the unexpected happens, your child will receive the benefit of your hard work and planning.
Four Things to Consider When Using a Continuing Trust
Not all children are responsible enough to handle a large lump sum inheritance at age eighteen without some guidance. Most children would be tempted to spend it all on fast cars, designer clothes, lavish vacations, or maybe even to quit their job. It is important to educate yourself on the options available in the event you die prior to your children reaching the age of majority.
Three Types of Trusts to Plan for Minor Children and Grandchildren
Most parents have carefully considered what values they want to instill upon their children, but you may not realize that establishing a trust can allow you to essentially parent from beyond the grave. In addition, grandparents may want to provide a lasting gift to their grandchildren but may be unsure of how to make a gift that truly has a lasting impact. Trusts are not a “one size fits all” planning method—in fact, there are different forms of trusts that can help your clients accomplish a variety of goals.
We are thrilled to extend a special invitation to you for an enlightening Home Modification Presentation. Your home’s comfort, accessibility, and functionality are essential, and we believe this presentation will provide valuable insight on how to optimize your living space.
Date: August 16, 2023 @ Noon via Zoom
Presented by: Brian Harvey from Harvey Home Modifications
What to Expect: During this session, Brian Harvey a local professional will guide us through a range of innovative home modification ideas. Whether you’re interested in
enhancing accessibility, increasing energy efficiency, or simple updating your living space, this presentation will cater to your needs. Discover creative solutions, learn about the
latest trends, and gain inspiration for your home improvement projects.
Why Attend?
1. Expert Advice: Gain insights from seasoned professional in the field of home modification and design.
2. Inspiring Ideas: Explore a variety of practical and aesthetic ideas to transform your living space.
3. Q & A Session: Have your questions answered by an expert, tailored to your specific needs.
Please let us know the number of attendees and any specific tops or questions you would like addressed during the presentation.
Your home should be a reflection of your lifestyle and needs, and this presentation aims to equip you with the knowledge to make informed decisions. We look forward to having you join us for an inspiring and informative Beyond the Law Series.
A Personal Note From Susana
I can’t believe that it is August! How time flies. We didn’t have much of a summer with the rain and then extreme heat! But this month and the next promise to be lovely. And late August-early September is when we begin to consider “the school year.” If we are parents we are considering what our children need—from kindergarten crayons through college text books and dorm furniture. So, it is this month that the focus of our newsletter is on minor children, and older but not yet mature children, and how they may be protected thro431-2669ugh proper legal documents, including trusts. Many parents have failed to do this, and if something happens to them, or if their fortunes change, the children remain unprotected.
I cannot emphasize how important this is. A number of years ago a colleague told me a very chilling story about what happened to an unprepared family. A young couple set off to travel to an exotic place and left one set of grandparents, in charge of their young children for the duration. They were both killed in a plane crash. It was never anticipated that this would happen but the case landed in probate court on guardianship and conservatorship petitions from the other set of grandparents to take charge of the under-age children and their funds. So, in addition to being orphaned these kids stood between battling grandparents, with a probate court in charge, and an appointed guardian-ad-litem
(incidentally paid for by the children’s funds such as they were speculated to be) trying to make sense of the entire matter. Never mind, the actual trauma to the children. It was a terrible case.
Although I have not had cases as extreme, I have seen the unfortunate results of parents failing to plan. They all ended up in court costing the litigants money that could have been used by the families to care for loved ones—young and old.
So as our children go to school, and are confronted by the symbols of “wise owls” in the form of books and teachers, our counsel is for all parents and grandparents to wise up,
and to create a plan for the possible “just in case.” And incidentally even if there isn’t a catastrophic event, have you, as a parent or grandparent planned for the possibility of a
dispute over children left with one grandparent having a medical need? Contact us at 617- 431-2669 to find out about how to give your loved one’s authority to care for your children or theirs even on a temporary basis.
Please note I have posted a number of blogs related to minors when it comes to planning.