Most Estate Planning attorneys will tell you that creating an Estate Plan helps prevent litigation after death. That statement needs a caveat. Most of the time, a properly created Estate Plan will prevent litigation. As this article demonstrates, sometimes, even with an Estate Plan, the family ends up in litigation. Read on to learn more. … [Read more...] about Who Can You Turn to When Your Brother Doesn’t Do His Job?
Comprehensive Guide to Executor Duties and Responsibilities in Massachusetts
When creating your Last Will and Testament, one of the most critical decisions you will make is choosing your Executor given that broad range of duties and responsibilities that come with acting as Executor. A better understanding of what the role entails can help you make an informed decision when appointing someone to be your Executor and ensure that your estate is handled according to your wishes after you pass away. Toward that end, the attorneys at Legacy Care Law Firm offer a comprehensive … [Read more...] about Comprehensive Guide to Executor Duties and Responsibilities in Massachusetts
Guide to Trustee Duties and Responsibilities during Trust Administration
Trusts are an increasingly popular addition to the average estate plan. The Trustee plays an integral role in the success (or failure) of any trust, making the administration of a trust a significant responsibility that requires a Trustee to act with diligence, integrity, and in the best interest of the beneficiaries. Understanding a Trustee's duties and responsibilities is crucial for anyone considering taking on this role or for those setting up a trust. With that in mind, the attorneys at … [Read more...] about Guide to Trustee Duties and Responsibilities during Trust Administration
Estate Planning Tools and Strategies Aimed at Protecting Your Assets
The estate you leave behind when you pass away represents a lifetime of hard work and prudent investment. Unfortunately, your estate assets can be at risk from various threats while you are alive as well as after you are gone. Creditors, lawsuits, divorce, and even poor financial management by your beneficiaries or heirs can threaten your estate. The attorneys at Legacy Care Law Firm explain some of the many estate planning tools and strategies aimed at protecting your assets. Common … [Read more...] about Estate Planning Tools and Strategies Aimed at Protecting Your Assets
Steps You Can Take to Avoid Litigation After You Pass Away
Creating and executing a Last Will and Testament is a crucial step in ensuring that your wishes are honored after your death; however, there is always the possibility that your Will could be contested, leading to prolonged legal battles and family discord. Fortunately, there are specific strategies you can employ to minimize the risk of a Will contest and ensure that your estate plan is carried out smoothly. Toward that end, the attorneys at Legacy Care Law Firm explain several steps you can … [Read more...] about Steps You Can Take to Avoid Litigation After You Pass Away
Avoiding an Audit
The Internal Revenue Service recently released its Strategic Operating Plan. In that plan, the Service indicated that it planned to conduct more audits, especially on the wealthiest taxpayers. Hearing that you are facing an audit is enough to strike fear into even the most stoic of individuals. No one is immune from audit; however, taxpayers following certain steps are less likely to be audited than those who don’t. Read on to learn more. … [Read more...] about Avoiding an Audit
Estate Planning for Graduating College Students
Estate planning is often perceived as a concern for older adults or those with substantial assets. The truth, however, is that estate planning is equally important for young adults, especially graduating college students. As you step into the world with newfound independence and responsibility, creating an estate plan ensures your wishes are respected and your loved ones are protected. To help you get started, the attorneys at Legacy Care Law Firm discuss estate planning for graduating college … [Read more...] about Estate Planning for Graduating College Students
The Ripple Effect: How Divorce Impacts Your Estate Plan
Divorce is rarely simple and never easy. It typically has a profound effect on every aspect of your life, including financial and legal matters. All too often, the emotional upheaval that frequently accompanies divorce makes it difficult to focus on anything but the divorce. It is imperative, however, that you do not overlook the implications divorce can have on other important facets of your life, such as your estate plan. Your carefully thought out and meticulously drafted estate plan can … [Read more...] about The Ripple Effect: How Divorce Impacts Your Estate Plan
10 Ways a Trustee Can Breach the Fiduciary Duty
Being entrusted with the management of assets for the benefit of others, a Trustee holds a position of great responsibility. This fiduciary duty requires a Trustee to act in the best interests of the beneficiaries, adhering to a high legal standard of care and loyalty. Unfortunately, breaches of fiduciary duty can and do occur from time to time. To ensure proper management and accountability during the administration of a trust, both Trustees and beneficiaries should have a clear understanding … [Read more...] about 10 Ways a Trustee Can Breach the Fiduciary Duty
Courts Allowing More Flexible Trust Amendments
As much as I enjoy writing about celebrity Estate Planning gone wrong, and less often, right, occasionally, a court opinion catches my attention. That’s particularly true when the decision will have lasting implications for Estate Planning. This blog returns to the basic lessons about amending a Trust. In an increasingly litigious world, disgruntled beneficiaries feel emboldened to fight for what they think is theirs. It doesn’t always work out in their favor, especially when they base their … [Read more...] about Courts Allowing More Flexible Trust Amendments
