Year: 2023

 3 Examples of When an Irrevocable Trust Can—and Should—Be Modified Did you know that irrevocable trusts can be modified? If you did not, you are not alone. The name lends itself to that very misconception. However, the truth is that changes in laws, family, trustees,...

Do Not Leave Your Trust Unprotected:  4 Ways a Trust Protector Can Help You Trust protectors are commonly used in the United States. Essentially, a trust protector is someone who serves as an appointed authority over a trust that will be in effect for a long period of...

Personal property can be an important part of many people’s lives. Whether it is something that has monetary value or something that you have collected for many years, certain items hold a significant place in your heart. Figuring out what to do with these items when...

Most people usually think about who will receive their retirement and bank accounts, life insurance proceeds, real estate, and other valuable possessions upon their death. However, a person’s personal property (their stuff) can also be a source of value that needs to...

If you have a severe illness or accident or pass away, who will you trust to look after your pet? There are many ways to ensure your pet continues to have a loving home. Guardian of Your Minor Children If you also have minor children, the nominated guardian of your...

The year 2023 was a landmark year for changes in Massachusetts’ estate tax laws.  Here are 9 practical tips to navigate the new Estate Tax Landscape: Regular Reviews and Updates: A colleague of mine once said: “You need to review your estate plan on a regular basis;...

Ways to Provide Money to Care for Your Beloved Pet As of 2023, 66 percent of US households own a pet.[1] A Forbes Advisor survey of more than 5,000 dog owners found that 41 percent of dog owners spend between $500 and $1,999 a year on their dogs and 8 percent spend...

Pets sometimes outlive their owners. If you suffer an accident or illness, it could leave your cat, dog, horse, iguana, or any other pet without a caregiver, which, without proper planning, could result in your beloved pet being sent to an animal rescue or shelter...

With the increased coverage of artificial intelligence (AI) and all of the applications it can have in our everyday lives, some people may wonder whether an AI program can create an estate plan for them. While AI may be able to generate basic estate planning...

Could a Testamentary Trust Be What Your Loved Ones Need? One of the main reasons that a person creates a revocable living trust (a trust established during a person’s lifetime that they can amend or revoke) instead of relying on a will to transfer their money and...