If you have executed a Last Will and Testament, you undoubtedly did so because you want your wishes regarding your estate assets to be honored after you are gone. A Will contest, however, could result in the invalidation of your Will. The attorneys at Legacy Care Law Firm explain several proactive steps you can take when drafting and executing your Will that can help prevent a Massachusetts Will contest. By taking these steps, you can significantly reduce the risk of a Will contest and help … [Read more...] about Steps You Can Take to Help Prevent a Massachusetts Will Contest
Filing Taxes for a Deceased Spouse
Losing a spouse is an emotionally overwhelming experience, and amidst the grieving process, addressing legal and financial responsibilities can be particularly challenging. While handling estate matters may not be your immediate priority, certain obligations must be met, including filing the necessary tax returns for your deceased spouse. Failure to do so can result in penalties, interest, or complications for your own financial future. Understanding what taxes need to be filed and ensuring … [Read more...] about Filing Taxes for a Deceased Spouse
Incapacity Planning in Your New Hampshire Estate Plan
Although you likely focus on the desire to determine how your assets are distributed after your death when you think about estate planning, a comprehensive estate plan can – and should – do much more. Planning for incapacity, for example, should be part of your comprehensive estate plan because incapacity can occur at any time due to illness, injury, or the natural effects of aging, leaving you unable to make financial or medical decisions for yourself. In New Hampshire, having the right legal … [Read more...] about Incapacity Planning in Your New Hampshire Estate Plan
Are Irrevocable Trusts Really Irrevocable – Part I
For many years Estate Planning attorneys touted irrevocable trusts as an immutable way to set an estate plan in stone. As more and more states have adopted the Uniform Trust Code that has changed. Provisions of the Uniform Trust Code allow for modification of an otherwise irrevocable trust which has altered the landscape of Estate Planning. Irrevocable Trusts have long been an effective, albeit static, estate planning tool, with the ability to alter irrevocable trusts, they provide more … [Read more...] about Are Irrevocable Trusts Really Irrevocable – Part I
Including Advance Directives in Your New Hampshire or Massachusetts Estate Plan
While the primary motivation for creating your estate plan may have been to ensure that your assets are handled according to your wishes after you are gone, a comprehensive estate plan can accomplish more than simply deciding what happens to your estate assets after you pass away. A well thought out and properly drafted estate plan can also protect you and your assets while you are alive. In fact, one of the most important aspects of your estate plan should be to ensure that your wishes are … [Read more...] about Including Advance Directives in Your New Hampshire or Massachusetts Estate Plan
Understanding UTMA Accounts and Their Role in Estate Planning
When gifting assets to a minor, certain legal restrictions must be considered because minors cannot directly own property or financial assets. A responsible adult must oversee and manage the assets until the child reaches adulthood. One approach is to establish a trust, but another widely used option is to create a custodial account under the Uniform Transfers to Minors Act (UTMA). The attorneys at Legacy Care Law Firm explain what a UTMA account is, how it functions, and how it compares to … [Read more...] about Understanding UTMA Accounts and Their Role in Estate Planning
Celebrate National Love Your Pet Day by Incorporating Pet Planning into Your Estate Plan
National Love Your Pet Day, celebrated on February 20th, is the perfect occasion to reflect on the love and care we provide for our furry, feathered, or scaly friends. For many people, pets are cherished members of the family, offering unconditional love, companionship, and joy. If you are one of them, have you considered what would happen to your beloved pet if you were no longer able to care for them? Incorporating pet planning into your estate plan ensures that your pet continues to receive … [Read more...] about Celebrate National Love Your Pet Day by Incorporating Pet Planning into Your Estate Plan
Estate Planning and Baseball
Every state that recognizes trusts as legal entities imposes fiduciary duties upon the Trustee of such trusts. These duties may have different names in different jurisdictions, but ultimately a breach of fiduciary duties means that the Trustee failed to fulfill their duties as expressed in the trust instrument and under local law. This article examines a case ripped from the headlines that demonstrates the importance of choosing the right individuals to serve as fiduciaries. Read on to learn … [Read more...] about Estate Planning and Baseball
Proper Estate Planning Brings Peace of Mind During a Disaster
Estate planning isn’t just about securing your legacy—it’s about protecting your assets and loved ones when disaster strikes. Updating an outdated Estate Plan or creating a new one provides a set of instructions for your family regarding what you want to happen during your life if you lose the ability to communicate that and at death. It provides comfort and a sense of control. This article will serve as a guide to getting more out of your Estate Plan during a disaster. Read on to learn more. … [Read more...] about Proper Estate Planning Brings Peace of Mind During a Disaster
Steps Involved in Creating Your Last Will and Testament
For most people, creating a Last Will and Testament is the first step they take when creating an estate plan aimed at securing their legacy and ensuring their wishes are carried out after their death. If you are contemplating the creation of your first Will, the process of drafting and executing your Will may seem overwhelming; however, breaking it down into thoughtful, substantive steps can make it more manageable. Toward that end, the attorneys at Legacy Care Law Firm explain some common steps … [Read more...] about Steps Involved in Creating Your Last Will and Testament
