If you are married, an important focus of your estate plan is likely ensuring that your spouse is financially protected in the event of your death. If you have children together, you likely plan for your combined estate assets to be passed down to your children after you are both gone. What happens, however, if you die at a relatively young age and your spouse remarries? Will the assets you intended for your children be safe? The Beverly estate planning attorneys at Legacy Care Law Firm discuss … [Read more...] about If Your Spouse Remarries After Your Death Will Your Assets Be Safe?
When it comes time to create an estate plan, many individuals want to leave a lasting impact on causes dear to their hearts through charitable giving. Crafting an estate plan that includes provisions for charitable gifting not only allows you to support causes you are passionate about but also provides potential tax benefits and a meaningful legacy. For those interested in charitable gifting, the attorneys at Legacy Care Law Firm discuss the importance of incorporating charitable gifting into … [Read more...] about Maximizing Impact: Charitable Gifting in Your Estate Plan
As more and more Baby Boomers retire, many wonder where they should spend their golden years. Each person’s unique facts and circumstances should inform that decision, including, without limitation, the various taxes imposed by each state. The findings in this article might surprise you. Read on to learn more. … [Read more...] about What’s Retirement Got to Do with it?
If you have already taken the crucial step of establishing an estate plan, you have demonstrated foresight in securing your financial assets and ensuring your wishes are honored. The concept of legacy planning introduces an additional layer of depth to your preparations. The point of legacy planning is not to replace your existing estate plan. Instead, it enriches and extends it, offering a comprehensive approach to leaving behind a meaningful and lasting impact. In essence, while your estate … [Read more...] about How to Leave an Enduring Legacy for Future Generations
Becoming a grandparent is a joyous and profound experience, filled with the promise of sharing wisdom, creating lasting memories, and leaving a positive impact on future generations. As you navigate this exciting phase of life, it becomes crucial to consider the integration of comprehensive estate planning tools and strategies into your existing estate plan. To help get you started, the attorneys at Legacy Care Law Firm offer some estate planning tips designed to help you navigate the intricate … [Read more...] about Estate Planning for Grandparents
At some point during your retirement years there is a strong likelihood that you and/or your spouse will need some type of long-term care services. If that care includes nursing home care, the cost of that care will be high, particularly if you are in Massachusetts. Many seniors find themselves turning to Medicaid for help paying for the high cost of long-term care. The need to qualify for Medicaid, however, can put your retirement nest-egg at risk. To help protect your assets and ensure your … [Read more...] about Massachusetts Guide to Medicaid for Seniors
A robust estate plan requires you to incorporate tools and strategies into your plan that go above and beyond what a Last Will and Testament or a trust can accomplish. The precise tools and strategies that you include in your plan will depend on your estate planning needs and goals. To give you an idea of how your plan might accomplish more than it currently is, the attorneys at Legacy Care Law Firm discuss estate planning beyond Will and trusts. Advanced Directives Planning for the … [Read more...] about Estate Planning Beyond Wills and Trusts
Estate planning is a crucial step towards ensuring the smooth transfer of assets and wealth to loved ones after one's passing. When a family member has special needs, however, the stakes become higher, and the process more complex. Special needs planning within an estate plan requires careful consideration of legal, financial, and emotional factors to secure the well-being of the individual with special needs while preserving family assets and intentions. To help you better understand, the … [Read more...] about Navigating Special Needs within Your Estate Plan
Despite what many people believe, Alzheimer’s disease is not a newly discovered disease. In fact, Alzheimer’s was identified over a century ago. Advances in medicine that make diagnosing the disease easier coupled with the dramatic increase in the elderly population in the United States only makes it appear as though Alzheimer’s is more prevalent today than it was just a generation ago. Nevertheless, there is a strong possibility that you or someone you care about will develop Alzheimer’s at … [Read more...] about What Everyone Needs to Know about Alzheimer’s Disease
Although we understand from an early age that death will eventually come to all of us, it can still be a difficult and emotionally exhausting topic to think about, much less discuss. Whether you recently received a terminal diagnosis or are simply approaching the age at which you know that the end of your life is not far away, end-of-life planning is important. To help you accomplish this important goal, the attorneys at Legacy Care Law Firm offer an end-of-life planning guide. Steps to … [Read more...] about End-of-Life Planning Guide