An elder law attorney can help you with estate planning, wills, probate, medicaid, trusts, and many much more
Posts Categorized: Assets
How To Do an End of Year Insurance and Estate Planning Check
The end of the year is the perfect time to tap into that resolutions energy and get your financial plan in order. If it’s been some time since you reviewed your documents and your overall financial strategy or estate plan, now is the perfect opportunity to do it. Reviewing Your Estate Plan Meeting with an… Read More »
Understanding the Value and Challenges of Family Limited Partnerships
There are many different estate planning strategies and options available to you, and one of the chief concerns for many people working with lawyers now is the ability to transfer generational wealth. In Massachusetts, you should always discuss creating a family limited partnership directly with an estate planning lawyer. What is a Family Limited Partnership?… Read More »
What Estate Planning Goals Can We Achieve When Someone’s Been Diagnosed With Alzheimer’s Disease?
The diagnosis of Alzheimer’s disease can have far reaching ripple effects throughout your entire family. It raises many different questions, chief among them, who will help to take care of your loved one in the immediate future and what will happen to their assets after they pass away. Estate Planning for Alzheimer’s or Dementia is… Read More »
What To Do If You Cannot Afford Out of Pocket Services for A Special Needs Child?
A special needs child will eventually grow up, but may still rely on important government programs and other forms of assistance to survive and thrive. Someone who has severe impairments may incur significant costs for health care, upwards of $100,000 per year. Understanding Special Needs Trusts Depending on the level of a person’s impairment, many… Read More »
What’s The Difference Between Estate And Non-Estate Assets?
Understanding what you own and what you don’t own as part of your estate is important for the purposes of estate planning. Certain assets pass outside of the probate or estate process, and you’ll want to have appropriate plans in place to protect your loved ones for each type. Estate Assets Assets that are owned… Read More »
What Happens If Your Beneficiary Passes Away First on A Payable on Death Bank Account?
A payable on death bank account is a simple planning instrument that allows you to designate someone to receive the assets inside your account very quickly. If you named more than one payee on your payable on death bank account, this makes it easy for the second person to receive those funds if the original… Read More »
Why State Law Controlling Your Assets Is a Problem
You might assume that you do not have enough assets to warrant the creation of an estate plan, but this can be very problematic thinking. The primary reason for this is because the state will determine what happens to your assets not you if you pass away without an estate plan. Who is entitled to… Read More »
Why Is a Residuary Clause So Important?
In crafting your will, you probably sat down to make a comprehensive list of all of your assets and liabilities. This is so that you can create a specific bequest to your loved ones so that they receive the items you promised to them or that you intend for them to have. But a common… Read More »
Giving Someone Else Decision-Making Power Over Your Future
Failing to plan is planning to fail, the old adage says, and unfortunately far too many people learn about the failures of their estate planning when it’s too late. By choosing not to make a decision you are essentially outsourcing the decision making process to others, particularly the government. If you don’t make decisions about… Read More »