Where you decide to retire has an impact on your ability to receive affordable long term care support, the taxes you’ll pay and your overall lifestyle in retirement. That’s why it’s important to weigh the different states you are considering moving to or making your permanent residence carefully. Massachusetts is one such state that frequently… Read More »
Posts Categorized: Estate Planning
Have You Discussed Incapacity Documents with Your Family This Holiday?
Holidays look different in 2020, meaning that many people are taking this opportunity to keep their loved ones updated virtually. It can be difficult to have conversations around estate planning regardless but it might be easier to broach these topics virtually, specifically when it comes to documents around potential incapacity. Estate planning incorporates a broad… Read More »
O’Connell Law LLC Named a 2020 Law Firm 500 Honoree
For Fastest Growing Law Firms in the U.S. Over the past 10-years, our team at O’Connell Law, has been dedicated to providing excellence in customer service resulting in many happy clients. In doing so, our commitment and focus has taken us on a fabulous journey of growth – both personally and for our business. We… Read More »
Should We Be Worried About Estate Tax Changes Under A New Administration?
It is not unusual to have at least some tax law changes when a new administration takes over. We’ll focus here on potential estate tax changes that may happen under President-Elect Biden’s administration. Under the Tax Cuts and Jobs Act of 2017 (TCJA), the federal estate tax threshold is at $11.58M (for 2020) and $11.7M… Read More »
Should You Discuss Financial or Estate Concerns with Your Family?
It can be difficult to have conversations around money with your family but the recent pandemic might have already highlighted this within your own family in giving you a roadmap for how to proceed. Having these more intimate financial discussions can help clear up areas of confusion and when done properly, can bring your family… Read More »
Your Guide to Creating a Living Trust in Massachusetts
If you are thinking about creating a living trust, this is an excellent tool in Massachusetts for allowing you to move assets inside a trust that can then be accessed or used by you during your lifetime. This provides great flexibility, but it’s important that the trust be created well and funded properly so that… Read More »
Your Guide to Creating a Living Trust in Massachusetts
If you are thinking about creating a living trust, this is an excellent tool in Massachusetts for allowing you to move assets inside a trust that can then be accessed or used by you during your lifetime. This provides great flexibility, but it’s important that the trust be created well and funded properly so that… Read More »
Is Irrevocable the Right Way to Go with Life Insurance in a Trust?
Do you have a life insurance policy? If not, this might become an important aspect of your estate plan as it provides for a seamless transfer of policy benefit payouts to your chosen beneficiaries. Unlike many probated assets, life insurance is handled outside of the courts when it comes to transferring the funds to your… Read More »
How an Elder Law Attorney Can Help You Navigate Home Health Care
Home health care is a significant issue now and is expected to be well into the future. Every day, 10,000 Americans turn age 65 and the pace for health care related jobs is growing at a significant rate, expected to increase by up to 18% through 2026. Understanding the labyrinth of health care options and… Read More »
Do You Really Need to Revise Your Estate Plan?
Revision of an estate plan can be an involved and comprehensive process depending on how many documents and strategies you’d already had created. If your estate planning documents do not meet your current estate planning objectives or if there have been significant changes in the state or federal landscape since you last updated these materials,… Read More »