If you are in the prime of your life, you probably have not given much thought to the possibility of becoming incapacitated anytime in the near future. The odds of that happening, however, are higher than you realize. Moreover, if you didn’t plan for the possibility, the consequences could have a significant negative impact on your life. With that in mind, the incapacity planning attorneys at Legacy Care Law Firm encourage you to get prepared for the possibility of your own incapacity. What … [Read more...] about Are You Prepared for the Possibility of Your Own Incapacity?
Should In Re Gregory Hall Trust Change the Way We Think About Amending Trusts?
Revocable Trusts offer many great benefits for the grantor and the beneficiaries both during life and after death. Grantors or creators of the trust retain the right to amend, revoke, alter, or change the trust during their lifetime. Well-written trusts contain explicit directions regarding how the change needs to occur. A recent Michigan case explores what happens when a trust lacks that clarity. Read on to learn more. … [Read more...] about Should In Re Gregory Hall Trust Change the Way We Think About Amending Trusts?
How Do I Become My Parent’s Guardian in New Hampshire?
If you have an elderly parent who has been struggling with Alzheimer’s or simply succumbing to the deterioration that occurs with the natural aging process, you may be concerned about your parent’s ability to make decisions and/or safely carry out the daily tasks of living. At some point, it may be clear to you that your parent needs a legal guardian. With that in mind, the elder law attorneys at Legacy Care Law Firm explain how to become your parent’s guardian in New Hampshire. What Is Adult … [Read more...] about How Do I Become My Parent’s Guardian in New Hampshire?
What It Means to Disclaim
Disclaimers are an effective Estate Planning tool for the Trust and Estate Practitioner. They allow the disclaimant to alter an Estate Plan if they follow the statutory requirements exactly. Disclaimers can be tricky but when used correctly, achieve great results for a client. Read on to learn more. … [Read more...] about What It Means to Disclaim
How Does Massachusetts Rate for Retirement?
The explain some estate plan updates that typically follow the loss of a spouse. Retirement planning involves more than just ensuring that you have sufficient financial resources available to live comfortably when the time comes. Another important consideration is where to live when you retire. Not only will your choice impact your finances, but it can also impact your quality of life. Each year, WalletHub ranks the states for “retirement-friendliness.” If you are planning to remain in, … [Read more...] about How Does Massachusetts Rate for Retirement?
How Tax and Non-Tax Considerations Impact Estate Planning – Part II
People often believe that Estate Planning is a “simple” process designed only for those whose estates will exceed the Applicable Exclusion Amount of $12.92 million in 2023. That myopic view causes many who should undertake Estate Planning to skip it altogether or to look for ways to complete the planning on their own without the services of a qualified Estate Planning attorney. As the last article in this two-part series demonstrated, numerous taxes impact Estate Planning. This second part of … [Read more...] about How Tax and Non-Tax Considerations Impact Estate Planning – Part II
Understanding and Manipulating Estate and Gift Taxes
Most everyone knows that each American can pass nearly $13 million in assets before worrying about an estate tax. In addition, it’s possible to pass an unlimited amount to a spouse without incurring any tax. Of course, to obtain the benefit of the unlimited marital deduction, the amount passing to the spouse must meet specific requirements. Read on to learn more. … [Read more...] about Understanding and Manipulating Estate and Gift Taxes
What Are My Options for Making Charitable Gifts in My Estate Plan?
For many people, charitable gifting is an important part of their daily lives. If you are among them, you may hope to make charitable gifting part of your estate plan as well. Charitable gifting can be handled in several different ways in your estate plan. The type of beneficiary, size and complexity of the gift, and the amount of control you want to have over how the gift is used will all impact how you make charitable gifts in your estate plan. With all of that in mind, let me offer some … [Read more...] about What Are My Options for Making Charitable Gifts in My Estate Plan?
Death and Probate in Massachusetts: A Self-Help Guide
If you recently lost a loved one, you are likely going through a period of grieving and heightened emotions. Thinking about the legal ramifications of your loved one’s death is probably not something you want to do; however, someone must initiate the probate process. If you were appointed to do so, or you are the logical choice, it helps to have an idea of what to expect when probating an estate. With that in mind, the probate attorneys at Legacy Care Law Firm created a self-help guide for death … [Read more...] about Death and Probate in Massachusetts: A Self-Help Guide
The Joy in Joint Trusts
Joint trusts offer clients many benefits both during life and after death. Those with joint trusts need to understand the limitations inherent in the trust and the importance of seeking qualified counsel upon the death of the first spouse to ensure that the trust administration runs smoothly. A recent Michigan case highlights what happens when the surviving spouse fails to do that or simply ignores the terms of the trust altogether. Read on to learn more. … [Read more...] about The Joy in Joint Trusts
