The moment you found out you were going to be a parent, you probably started worrying about, and planning for, your child’s future. Estate planning also took on a heightened importance because you wanted to be certain your child was protected if something happened to you. One tool in the estate planning toolbox for parents is a Uniform Transfers to Minors Act (UTMA) account. For those who are unfamiliar with this tool, a Nashua estate planning attorney at Legacy Care Law Firm explains the … [Read more...] about What Is the Uniform Transfer to Minors Act?
Contesting a Deathbed Will in Massachusetts
A common motivation for creating an estate plan is so that loved ones aren’t faced with any real surprises during the probate of an estate. What happens though if you learn that a recently deceased loved one made a death bed Will at the last minute and that new Will modified the terms of his/her previous Will? Is that deathbed Will valid? Can you contest the Will? The North Andover estate planning attorneys at Legacy Care Law Firm discuss contesting a deathbed Will in Massachusetts. What Is a … [Read more...] about Contesting a Deathbed Will in Massachusetts
Can I Prevent a Challenge to My Will?
A primary motivation for creating a Last Will and Testament is to ensure that estate assets are distributed according to the Testator’s wishes after they are gone. If that Will is invalidated, however, the state ultimately decides what happens to your assets. Knowing that it seems wise to do what you can to prevent challenges to your Will. Toward that end, a Nashua estate planning attorney at Legacy Care Law Firm discusses what you can do to prevent a challenge to your Will. What Does … [Read more...] about Can I Prevent a Challenge to My Will?
The Importance of Insuring Real Estate
Transferring real estate to a trust has become a widely used tool in estate planning. Unfortunately, it’s easy to overlook important aspects of the transfer that lead to unintended consequences. With careful planning, you can avoid these traps. Read on to learn more. … [Read more...] about The Importance of Insuring Real Estate
5 Things that Should Be Found in Any Estate Plan
Until you sit down to work on your plan most of the components of an estate plan remain a mystery. Not surprisingly, this leads to several questions. What do each of the estate planning tools accomplish? Which tools and strategies should be included in a plan? What are the most common components of an estate plan? The North Andover estate planning attorneys at Legacy Care Law Firm explain five things that should be in any estate plan. Contact a North Andover Estate Planning Attorney If … [Read more...] about 5 Things that Should Be Found in Any Estate Plan
Why You May Wish to Reconsider Putting Your Home in Your Child’s Name
If you own real property, and you want to keep that property out of probate after you are gone, you may have considered putting the property in your adult child’s name. Creating the right type of co-ownership with your adult child may be a better option. While you will get probate avoidance benefits by creating a joint tenancy, there are other factors you should consider before using that strategy for your real property. The Woburn estate planning attorneys at Legacy Care Law Firm discuss … [Read more...] about Why You May Wish to Reconsider Putting Your Home in Your Child’s Name
8 Questions to Ask When Choosing Your Executor
When you create your estate plan, one of the most important considerations should be deciding who will oversee the probate of your estate. This decision is made in your Last Will and Testament when you appoint an Executor. The Woburn estate planning attorneys at Legacy Care Law Firm suggest eight questions to ask when choosing the Executor for your estate. What Does an Executor Do? The person you appoint as Executor in your Will is responsible for administering your estate. Usually, that … [Read more...] about 8 Questions to Ask When Choosing Your Executor
What Happens When You Die Without a Will in Massachusetts?
You have undoubtedly been told by well-meaning friends and family member how important it is to execute a Last Will and Testament. Unless you understand why that is so important, however, you may lack sufficient motivation to get started on your Will. The Massachusetts estate planning attorneys at Legacy Care Law Firm want you to know what happens if you die without a Will. What Is a Last Will and Testament? A Last Will and Testament is a legal document that allows the Testator (the person … [Read more...] about What Happens When You Die Without a Will in Massachusetts?
Tax Proposals Could Alter Estate Planning Landscape
Senators Sanders and Whitehouse have introduced legislation in the Senate which would significantly alter the Estate Planning landscape. It would dramatically change the tools we use to plan for our clients. Time is of the essence. Read on to learn more. … [Read more...] about Tax Proposals Could Alter Estate Planning Landscape
Fewer People Have an Estate Plan in Place Than in Years Past
Unfortunately, a recent Caring.com study shows that even fewer people are engaging in estate planning than were a few short years ago. The Salem estate planning attorneys at Legacy Care Law Firm explain the findings and conclusions of the 2020 estate planning survey. The Caring.Com Study Caring.com partnered with YouGov to conduct a survey of 2,400 Americans to determine who is engaging in estate planning, and why or why not. Since 2015, Caring.com has been conducting similar surveys. The … [Read more...] about Fewer People Have an Estate Plan in Place Than in Years Past
