In today's evolving societal landscape, the recognition and protection of rights for the LGBTQIA+ community have made significant strides. Despite these advancements, comprehensive estate planning remains critically important for LGBTQIA+ couples. Estate planning is not solely about the distribution of financial assets after you pass away but offers protection for you and your loved ones while you are alive and encompasses the comprehensive protection and distribution of your legacy after you … [Read more...] about The Vital Role of Estate Planning for LGBTQIA+ Couples
Estate Planning Tips
A well-thought-out and properly drafted estate plan is one of the most valuable gifts you can give to yourself and your loved ones. If you are new to the concept of estate planning, it may help to learn more about it. To get you started, a North Andover estate planning attorney at Legacy Care Law Firm offers five important estate planning tips. Contact a North Andover Estate Planning Attorney For more information, please join us for an upcoming FREE seminar. If you have estate … [Read more...] about Estate Planning Tips
Use It or Lose It…Examining the Efficacy of the Spouse And Family Exclusion Trust or Spousal Lifetime Access Trust
The Applicable Exclusion Amount (“AEA”) permits individuals to transfer a certain amount of property either during life or at death without worrying about incurring an estate or gift tax. Passage of the Tax Cuts and Jobs Act of 2017 temporarily doubled that amount thereby allowing significant amounts of wealth pass from one generation to another without imposition of tax. As we draw nearer to January 1, 2026, and the sunset of those doubling provisions, attorneys and clients alike will rush to … [Read more...] about Use It or Lose It…Examining the Efficacy of the Spouse And Family Exclusion Trust or Spousal Lifetime Access Trust
What You Should Know About Conditional Gifts
Grantors like the idea of placing conditions upon a gift. In many ways, it’s the final opportunity to exert control or influence on the beneficiary. Most courts try to uphold the conditions as long as they are not void as against public policy or otherwise illegal or immoral. This article explores what happens when a Trustee fails to strictly enforce the conditions placed upon a bequest. Read on to learn more. … [Read more...] about What You Should Know About Conditional Gifts
Guide to Estate Planning for Retirees
If you are approaching your retirement years, you have much to look forward to and much to celebrate! Hopefully, you have had a comprehensive estate plan in place since you reached adulthood and you have updated that plan throughout your working years. As retirement nears, it is wise to sit down with your estate planning attorney and complete a thorough review and revision of your plan once again. To get you started and focused on issues that likely apply to you as a retiree, the attorneys at … [Read more...] about Guide to Estate Planning for Retirees
What Taylor Swift Can Teach Us About Estate Planning
Regardless of your feelings about her music, her attendance at National Football League games, or anything else related to the popstar, it’s hard to argue that Taylor Swift isn’t a cultural phenomenon. In 2023, Taylor launched a multi-city tour that broke records for attendance, sales, merchandising, and gross revenue; the Federal Reserve credited her with boosting the country’s economy; and Time magazine named her Person of the Year. While interesting, these statistics only tell part of the … [Read more...] about What Taylor Swift Can Teach Us About Estate Planning
Strategies for Probate Avoidance: Protecting Your Estate and Legacy in New Hampshire
Although the ability to dictate what happens to estate assets remains the number one reason why most people create an estate plan, additional goals and objectives are also typically included as that initial plan is revised and updated over the years. A popular goal added to the average plan at some point is probate avoidance. Probate in New Hampshire can be time-consuming, costly, and public, prompting many individuals to explore strategies for probate avoidance to protect their estate and … [Read more...] about Strategies for Probate Avoidance: Protecting Your Estate and Legacy in New Hampshire
Navigating HIPAA Authorization versus Healthcare Power of Attorney
Making sure that you are prepared for the possibility of incapacity is an important aspect of comprehensive estate planning. Two key legal documents pertaining to incapacity act to allow access to healthcare information and/or confer legal authority for healthcare decisions. While both are integral components of a comprehensive estate plan, they accomplish distinctly different things. To ensure that you understand each, the attorneys at Legacy Care Law Firm discuss navigating HIPAA authorization … [Read more...] about Navigating HIPAA Authorization versus Healthcare Power of Attorney
Navigating Estate Planning: Strategies for Dealing with a Spendthrift Beneficiary
Having a comprehensive estate plan in place is the best way to ensure that your assets are distributed according to your wishes after you pass away. One common concern, however, that arises during estate planning is how to manage assets for beneficiaries who are spendthrifts. A spendthrift beneficiary is someone who may have difficulty managing money responsibly, potentially jeopardizing their financial future. Not only can a spendthrift jeopardize their own financial future, but they can also … [Read more...] about Navigating Estate Planning: Strategies for Dealing with a Spendthrift Beneficiary
There’s No Better Way to Say “I’ll Be There for You” than with an Estate Plan
Matthew Perry died at the end of 2023. While it seems unlikely that Matthew’s estate will end up embroiled in a court battle as we see with other celebrity estates, that doesn’t mean that we can’t learn anything from his death and Estate Plan. Read on to learn more. … [Read more...] about There’s No Better Way to Say “I’ll Be There for You” than with an Estate Plan
