Category Archives: Estate Planning
What Is A Survivorship Life Insurance Policy?
Life insurance helps to provide much needed financial protection to many people and families. It can be a very important estate planning tool. Notably, life insurance policies come in a wide range of different forms. For some people—often married couples who want to provide for their children—a survivorship life insurance policy—can be especially effective…. Read More »
Estate Planning In Massachusetts: Can I Name My Minor Child As The Beneficiary For My Retirement Account?
For many people, their retirement savings—401(k), IRA, etc—is amongst their most valuable assets. It is important to consider your retirement accounts when developing an estate plan. You may be wondering: Can I name my minor child as the beneficiary on my retirement account? In Massachusetts, the answer is “yes”—but some unique issues can apply…. Read More »
Who Should I Choose As The Executor For My Will In Massachusetts?
As part of writing your will, you should select an executor, which is now called a Personal Representative under Massachusetts Law. A Personal Representative is the party who is charged with ensuring that the instructions within your Last Will and Testament are followed. You may be wondering: Who should I pick as my PR?… Read More »
Can I Leave Money To Charity Through My Will?
Are you interested in supporting a good cause through your estate? You may be wondering: Can I leave money to a charity using my Will? The short answer is “yes”—though, depending on the amount and the purpose, a charitable trust can sometimes be a better option. Within this article, our Boston estate planning attorney… Read More »
Bring In The New Year With A Review Of Your Estate Plan
According to the AARP, the majority of Americans do not have an estate plan in place. If you have a comprehensive estate plan, you are doing better than most—but you might not be properly protected. An estate plan that has fallen out-of-date may not protect your interests or achieve your goals. Here, our Boston… Read More »
Do You Still Need An Estate Plan If You Are Married?
According to data from Statistics Atlas, approximately half of adults in Massachusetts are currently married. You may be wondering: Do I still need an estate plan if I am married? While it is an understandable question—you may want to simply grant all rights to your spouse—the answer is a clear and resounding “yes.” All… Read More »
Estate Planning In Massachusetts: What Is Portability?
Tax planning is an important part of estate planning—especially for high net worth individuals. As explained by the Internal Revenue Service (IRS), the federal estate tax is “a tax on your right to transfer property at your death.” That being said, most people do not have a federal estate tax liability because the tax… Read More »
What Is A Generation Skipping Trust (GST)?
Many people want to provide support for family members as part of their estate plan. Grandchildren are among the most common people named as heirs in Last Wills and Testaments and selected as beneficiaries in trusts. In some cases, a specialized type of irrevocable trust called a Generation Skipping Trust (GST) may be the… Read More »
Estate Planning: Does A Trust Fully Protect Assets From Creditors?
Asset protection is a core part of estate planning. When used properly, a trust can be one of the most effective and efficient asset protection tools. You may be wondering: Will a trust fully protect assets from creditors? The answer is “it depends on what type of trust you have—only some types of trusts… Read More »
Do I Need A Power Of Attorney?
A Durable Power of Attorney is an essential document in an estate plan and should never be omitted. Many believe they only need a Last Will and Testament, but without a Durable Power of Attorney and other similar documents, your loved ones may need to petition the Probate Court and appear before a judge… Read More »