Tips for Selecting an Executor for Your Estate

Your executor, now called a personal representative in Massachusetts, is the individual responsible for settling any debts that you have, paying any taxes associated with your estate, and carrying out the instructions you lay out in your will. There are three recommended traits that you need to consider when selecting the right personal representative for… Read More »

Is It Time to Talk About Your Will with Your Loved Ones?

Having a conversation with your loved ones about your will may be important for minimizing the chances of an argument down the line. It’s a good idea to pull aside the relevant individuals and have this chat, but you need to approach the subject carefully. When a parent passes away without having this conversation, his… Read More »

Should You Name a Trust as a Beneficiary of Your IRA?

Inherited individual retirement accounts can be some of the most complex assets to deal with when someone is administering your estate. Federal law states that inherited IRAs for non-spouse beneficiaries are not necessarily protected from creditors, meaning that a beneficiary’s creditors could claim they have the rights to access these funds left behind by you,… Read More »

Are Your Beneficiary Designations All That Important?

Your beneficiary designations on items such as your individual retirement account or your life insurance policy are critically important for the company to determine who should receive your benefits if something happens to you. Even though this is a pertinent detail of your estate planning, many beneficiary designations are often forgotten, mishandled or overlooked. Many… Read More »