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As many of my readers and clients know, continuing legal education and keeping up-to-date on legal change is important to me and more specially to my clients who benefit by it. I regularly attend meetings of the Massachusetts branch of the National Academy of Elder...
Whether you are reviewing your existing trust or creating a new trust, you should understand the important role that a trustee plays not only in handling trust matters but also in providing for and protecting your loved ones. What is a trust? A trust is an agreement...
A Generation Skipping Trust (GST) is a fiduciary arrangement that is used to pass down assets and property to a later generation. A GST tax is imposed on transfers to grandchildren and more remote descendants that exceed the exemption limits ($12,060,000). The...
Establishing a Durable Power of Attorney enables you to elect a trusted individual as your agent to make critical financial decisions on your behalf once you are unable to handle your own affairs. Depending on the specifications in your document, these...
Chances are you’re familiar with estate planning, if nothing else than in name. Perhaps you’re also familiar with the fact that estate planning can help you protect your assets, document your wishes, and secure your family’s legacy for years to come – even after you...
Many of our clients start with what we call a living trust or a revocable living trust. But is that enough? While these trusts are great for their intended purpose, they do not offer true asset protection. Contrary to popular belief, you will not be protected simply...
Many of my clients who are grandparents care deeply for their grandchildren and want to support them as best they can. However, when a grandparent leaves assets to a grandchild, and therefore “skips” over their parents, the generation-skipping transfer tax (GSTT) can...
Caring for an aging loved one is an honorable act, and yet one filled with emotional decisions along the way. One particular decision that can feel difficult to make, is when it is time to seek a conservatorship. A conservatorship will allow you to formally file in...
In 2021, the United States Census indicated that there were over 37 million one-person households, or 28 percent. This represents a significant rise that’s only expected to continue. For example, in 1960 one-person households only represented about 13 percent of...
When tragedy strikes, it’s only natural to think of safety and health first. In the aftermath, it’s common for it to take a while to see how life marches on, bills come due, and the world still turns – whether or not we are able to meet our financial obligations and...
Estate Planning Basics: An Introduction to Estate Planning Concepts and Tools