In the event that you have already done the work of creating your estate planning documents, it’s a good idea at some point to discuss with your children where these documents are stored. Adult children should be prepared to ask where they are located and whether these are easily accessible to the named fiduciaries for… Read More »
Posts Categorized: Estate Planning
Is It A Problem to Appoint A Personal Representative Outside of State?
Today many people move around for various reasons, but there are questions that might be raised in the process of figuring out how to establish a personal representative for your estate plan for someone who lives in a different state. In general, appointing a non-resident as your personal representative should not be an issue. It… Read More »
Why Are Revocable Trusts Some of The Most Flexible Tools in Estate Planning?
There are many different items and strategies you might use inside your financial planning tool kit. Far too many people brush off using revocable trusts because of the perception that trusts are only for the rich and famous. Since so many people do not have a taxable estate under the new federal estate tax exemptions,… Read More »
Do You Have a Decision Maker You Trust? You Need One
One of the most important steps in the estate planning process is deciding who will make financial decisions on your behalf if you can’t. But this process, including power of attorney creation, can be easily overlooked. Most people are familiar with the fact that the estate planning process is used to help distribute your assets… Read More »
What Are the Most Important Estate Planning Triggers?
Certain events in your life should prompt you to update and re-evaluate your existing estate plan. Examples of these are outlined below, although it’s also a good idea to schedule an annual meeting with an estate planning lawyer to make sure your plan is up to date. Getting Married You and your future spouse should… Read More »
Healthcare Proxy What Do I Need?
Looking for help with your Massachusetts estate planning? One of the most commonly-used documents include a healthcare proxy. Healthcare Proxy Basics Your healthcare proxy agent is the person you enable to make decisions on your behalf related to healthcare if you become unable to do so. Remember that you maintain the right to make your… Read More »
Do I Need a Power of Attorney and a Last Will?
If you’ve spoken to any estate planning attorney or started research of your own, there’s a good chance that you’ve uncovered these two basic tools: a power of attorney and a last will. Together, these documents form the foundation for your overall estate plan. However, they do not accomplish the same goals and a comprehensive… Read More »
What Can a Financial Power of Attorney Agent Do?
Your power of attorney is an individual that you choose to make decisions on your behalf and take actions in your stead (your “agent”). It’s up to you as the principal or creator of this document to determine exactly what powers you wish your power of attorney agent to have in Massachusetts. Here are some… Read More »
Baby Boomers: Invest in Your Children and Grandchildren with Estate Planning
Giving a gift to your children and grandchildren through your estate planning is an important goal for many baby boomers and given the vast amount of wealth that is anticipated to be transferred over the next several decades, this is something you can’t afford to forget about. According to a recent study, more than two… Read More »
What is Informal Probate in Massachusetts?
As we’ve discussed in one of our blogs in the past, not all assets are subject to probate. Likewise, not all estates must be processed through the formal probate procedures in Massachusetts. In short, informal probate involves very limited court oversight. The process can be expedited if there are no objections by interested parties and… Read More »