The pandemic has had a long-lasting influence on our culture, including encouraging relocation at previously unheard-of levels. Imagine the surprise of a recently relocated retiree who discovers that their previously untaxed Social Security benefits are now included in their taxable income at the state level. Taxation of these benefits could have a serious impact on their lifestyle and may provide a less beneficial financial picture than was first thought. Want to know whether your state taxes … [Read more...] about State Income Taxation of Social Security Benefits
How Estate Planning for a Family May Trap the Unwary Practitioner
Attorneys have long advised entire families with respect to their estate planning. Ethics require attorneys to maintain a duty of loyalty to each client they represent and fully advise their clients regarding the structures they are recommending. Sometimes even when the transaction works exactly as intended, lawyers get sued. Read on to learn more. … [Read more...] about How Estate Planning for a Family May Trap the Unwary Practitioner
Should I Share the Details of My Estate Plan?
If you have an estate plan in place, you already recognize the numerous benefits an estate plan offers. Once your plan is in place, however, you may struggle with deciding how much (if any) of the details of that plan to share with beneficiaries and heirs of your estate. Ultimately, it is a very personal decision; however, the North Andover estate planning attorney at Legacy Care Law Firm discuss whether you should share the details of your estate plan. Advantages of Sharing Details of Your … [Read more...] about Should I Share the Details of My Estate Plan?
Things to Consider When Creating Your Last Will and Testament
Every adult should have at least a basic estate plan in place. For most people, estate planning begins with creating and executing a Last Will and Testament. While that sounds simple enough in the abstract, over half of all Americans do not have even a basic estate plan. One of the most common reasons people give for not having an estate plan is that they are unsure of where or how to begin. The “where” is easy enough to explain. Begin with a Will. The “how” can be a bit more complicated. … [Read more...] about Things to Consider When Creating Your Last Will and Testament
When Does a New Hampshire Trust Terminate?
Although a Last Will and Testament remains the most used estate planning document, trust agreements are not far behind in terms of popularity. Consequently, there is a very good chance that you will find yourself involved in the administration of a trust at some point in your life. Whether you are the creator of a trust, a beneficiary, or a Trustee, there may come a time when you wish to terminate the trust. A Salem trust attorney at Legacy Care Law Firm explains when and how a New Hampshire … [Read more...] about When Does a New Hampshire Trust Terminate?
Double Your Gifting with Spousal Gift-Splitting
As you plan your strategy for 2022, it’s important to consider gifting, including spousal gifts. Your spouse could double your ability to make gifts of “annual exclusions” without being considered to have made a gift for estate tax purposes. Read on to learn more. … [Read more...] about Double Your Gifting with Spousal Gift-Splitting
The Intersection of Legacy Contacts and Estate Planning
As more and more individuals get comfortable in the digital world, Estate Planning has changed to address the collection and transfer of digital assets. The widespread use of a legacy contact allows owners of digital content to determine what will happen with it after they die. Read on to learn more. … [Read more...] about The Intersection of Legacy Contacts and Estate Planning
Start 2022 the Right Way
The New Year gives us an opportunity to start fresh. If you don’t yet have an estate plan, now’s a great time to make an appointment with an Estate Planning attorney to talk about your goals and concerns. If you already have one, the New Year gives you an opportunity to review it to ensure that it still accomplishes your goals or to make any necessary changes. Read on to learn more … [Read more...] about Start 2022 the Right Way
Mistakes You Can Avoid Making during Probate
If you recently lost a loved one and learned that you were named by the decedent to be the Executor of the estate, you are probably feeling a bit overwhelmed. Even with the best of intentions, mistakes can occur – especially if this is the first time you have served as an Executor. The Nashua probate attorneys at Legacy Care Law Firm explain how you can avoid making some common mistakes during probate. What Is Probate? Before focusing on common mistakes, it may be beneficial to … [Read more...] about Mistakes You Can Avoid Making during Probate
Can a Geriatric Care Manager Help?
If you are a family member or friend who is providing unpaid care for an older loved one, you probably feel frustrated and overwhelmed at times. If so, you are hardly alone. Your commitment to providing care is certainly admirable; however, you may reach a point at which you need help in the form of a geriatric care manager. The North Andover elder law attorneys at Legacy Care Law Firm explain how a geriatric care manager can help you to provide the best possible to care for your loved … [Read more...] about Can a Geriatric Care Manager Help?
