Clients create Estate Plans to work in a certain way. They raise their concerns with the drafting attorney and a qualified Estate Planning attorney includes safeguards to ensure that the plan works as intended and desired yet contains provisions flexible enough to change if circumstances require a change. Almost all of us have read or heard of cases in which the plan did not work as intended and litigation ensured. In fact, we often read about them in the news. The Diller v. Richardson case … [Read more...] about What We Can All Learn from Diller v. Richardson – Part II
What We Can All Learn from Diller v. Richardson
Clients create Estate Plans to work in a certain way. They raise their concerns with the drafting attorney and a qualified Estate Planning attorney includes safeguards to ensure that the plan works as intended and desired yet contains provisions flexible enough to change if circumstances require a change. Almost all of us have read or heard of cases in which the plan did not work as intended and litigation ensured. In fact, we often read about them in the news. The Diller v. Richardson case … [Read more...] about What We Can All Learn from Diller v. Richardson
Navigating the New Hampshire Probate Process
If you find yourself in charge of overseeing the probate of an estate for the first time, it can be an overwhelming prospect. On top of all the legal and financial issues involved in probate, you are likely grieving the loss of someone close to you. Nevertheless, if you were named as the Executor of the estate in the decedent’s Last Will and Testament it means that the decedent trusted you to administer his/her estate. To help get you started, the probate attorneys at Legacy Care Law Firm … [Read more...] about Navigating the New Hampshire Probate Process
New Hampshire Medicaid for Seniors: Understanding the Spousal Impoverishment Rules
Numerous myths and misconceptions continue to circulate about Medicaid for seniors. One of those caused many seniors who could benefit from qualifying for Medicaid to shy away from applying. That myth causes people to worry that a spouse will be left destitute if you need to qualify for Medicaid. To help clarify, the Medicaid planning attorneys at Legacy Care Law Firm explain the spousal impoverishment rules for New Hampshire Medicaid for seniors. Why Might You Need to Qualify for … [Read more...] about New Hampshire Medicaid for Seniors: Understanding the Spousal Impoverishment Rules
What Every Senior Needs to Know about Medicaid in Massachusetts
Long-term care (LTC) is a crucial consideration for seniors, as statistics show a high likelihood of needing some form of LTC in the future. Currently, a 65-year-old individual has a 70 percent chance of requiring LTC services at some point. While a majority of seniors can receive assistance at home, over one-third will need care from an assisted living facility or nursing home, which can come with staggering costs that could deplete your retirement nest egg. To help you prepare for that cost, … [Read more...] about What Every Senior Needs to Know about Medicaid in Massachusetts
Mistakes to Avoid When Creating a Trust
Although a Last Will and Testament is likely the cornerstone of your estate plan, you will also probably incorporate additional estate planning tools and strategies into that plan to ensure that all your goals are reached. Many people, for example, include a trust in their estate plan. To help your trust succeed, the Beverly trust attorneys at Legacy Care Law Firm explain several common mistakes to avoid when creating a trust. What Is a Trust? A trust is a relationship whereby … [Read more...] about Mistakes to Avoid When Creating a Trust
Comparing the Use of Portability with a Bypass Trust
Proper tax planning is vital if you are trying to protect valuable assets. A properly drafted estate plan can diminish, or even avoid, federal gift and estate taxes. A bypass trust and portability are the two strategies that are commonly used to avoid an estate tax bill following the death of one spouse. Deciding between the portability election and a bypass trust requires a better understanding of both options. Toward that end, the estate planning attorneys at Legacy Care Law Firm offer a … [Read more...] about Comparing the Use of Portability with a Bypass Trust
What Happens When You Don’t Trust Your Trustee – Part II
Trusts have become ubiquitous parts of estate plans. Many Estate Plans use revocable trusts as the foundation for the plan while others include irrevocable trusts. Regardless of the planning reason, every trust needs a trustee. The grantor may name the beneficiary as trustee, or the grantor may name another individual or entity as trustee, creating a natural tension between the beneficiary and trustee. If the tension becomes too great, the beneficiary may seek to have the trustee removed. As … [Read more...] about What Happens When You Don’t Trust Your Trustee – Part II
What Happens When You Don’t Trust Your Trustee – Part I
Trusts have become ubiquitous parts of estate plans. Many Estate Plans use revocable trusts as the foundation for the plan while others include irrevocable trusts. Regardless of the planning reason, every trust needs a trustee. The grantor may name the beneficiary as trustee, or the grantor may name another individual or entity as trustee, creating a natural tension between the beneficiary and trustee. If the tension becomes too great, the beneficiary may seek to have the trustee removed. As … [Read more...] about What Happens When You Don’t Trust Your Trustee – Part I
When a Massachusetts Resident Dies, What Estate Taxes Might the Estate Owe?
If you are responsible for overseeing the probate of an estate for someone who recently passed away, one of your many duties and responsibilities is to ensure that all taxes owed by the estate are correctly calculated and paid before assets are transferred out of the estate. To successfully fulfill this duty, you must understand the various applicable taxes. Toward that end, the probate attorneys at DeBruyckere Law Offices discuss what estate taxes and estate might owe when a Massachusetts … [Read more...] about When a Massachusetts Resident Dies, What Estate Taxes Might the Estate Owe?
