Cryptocurrency, a relatively new asset class, has raised unique estate planning questions, particularly regarding what happens to it after death. In Massachusetts, like in most other states, the distribution of cryptocurrency upon death is governed by traditional estate laws, but cryptocurrency’s decentralized and private nature presents additional complexities. Without proper planning, your digital assets could… Read More »
Posts Categorized: Power of Attorney
The Pros and Cons of Springing Powers of Attorney in Massachusetts
When planning for future incapacity, individuals in Massachusetts often consider different types of powers of attorney (POA) to manage their affairs. One such option is the springing power of attorney. This legal tool activates only upon a specified event, typically the principal’s incapacitation. While springing POAs can offer tailored protection, they come with their own… Read More »
Integrating Veterans Benefits into Estate Planning in Massachusetts
For veterans in Massachusetts, estate planning takes on an additional layer of complexity as they not only prepare for the distribution of their assets but also leverage the unique benefits provided to them by federal and state programs. Veterans benefits, such as disability compensation, healthcare, educational assistance, and housing benefits, can play a significant role… Read More »
Timing Matters: The Best Age to Start Estate Planning in Massachusetts
Estate planning is a crucial financial and legal process that provides peace of mind, ensures the orderly distribution of assets, and minimizes potential complications for heirs. However, many people in Massachusetts often wonder when the ideal time is to embark on estate planning. This article will discuss the best age to start estate planning in… Read More »
Why Would A College Student Need An Estate Plan?
As college marks a significant step into adulthood, many students overlook an essential aspect of preparedness: estate planning. While typically associated with older adults, creating a basic estate plan can be crucial in protecting oneself and loved ones. Here’s why college students shouldn’t leave home without one: Understanding Estate Planning At 18, individuals become legal… Read More »
What is the Difference Between a Personal Representative and a Power of Attorney
A Personal Representative and a Power of Attorney are both individuals who play significant roles in managing someone’s affairs. However, they serve different purposes and have distinct legal statuses: Personal Representative: Power of Attorney (POA): In summary, a Personal Representative deals with the affairs of a deceased person’s estate, while a Power of Attorney handles… Read More »
How Do I Plan For A Future with Alzheimer’s Disease?
Acquiring a diagnosis of Alzheimer’s disease can be overwhelming, both for the person diagnosed and their loved ones. While the journey ahead may seem uncertain, it is important to take proactive steps to ensure that your needs will be met in the future. Planning early can significantly improve your quality of life and reduce the… Read More »
The Importance of Estate Planning for Young Adults in Massachusetts
Estate planning, often associated with older adults or the wealthy, is crucial for everyone, including young adults in Massachusetts. It’s a common misconception that estate planning is only for those with significant assets or families. However, life is unpredictable, and having an estate plan is a wise decision for young adults for several reasons. Health… Read More »
Updating Your Massachusetts Estate Plan: Key Steps Before the New Year
As 2023 draws to a close, it’s a perfect time to revisit your Massachusetts estate plan andensure it’s up-to-date and aligned with your current wishes and the latest legal requirements.Estate planning is an ongoing process, and making the necessary updates before the new yearcan provide you with peace of mind and protect your legacy. Today… Read More »
Timing Matters: The Best Age to Start Estate Planning in Massachusetts
Estate planning is a crucial financial and legal process that provides peace of mind, ensures the orderly distribution of assets, and minimizes potential complications for heirs. However, many people in Massachusetts often wonder when the ideal time is to embark on estate planning. This article will discuss the best age to start estate planning in… Read More »