I am frequently asked whether a trust is necessary, and I give the most legal answer I know: It depends. There are many different types of trusts, that serve many different purposes. They can shelter assets to reduce estate tax liability, protect privacy during the probate process, provide for responsible financial management of a minor […]
estate plan
4 Gifts to Give Your Loved Ones When You Die
What do we leave our loved ones when we die? We leave legacies of love and sometimes legacies of wealth. In the immediate aftermath of your demise, your loved ones will be struggling with their grief and trying to manage many logistical details that they have never faced before. For a program at The First […]
6 Things Every Executor Should Know about MA Probate
“Probate.” You’ve heard the term. Usually, it’s uttered with the phrase “avoiding probate” or “dealing with probate.” No one ever wants to talk about probate. Except maybe probate and estate planning attorneys. Here are the 6 most frequently asked questions I get about probate in Massachusetts. As a preliminary matter, Massachusetts no longer uses the […]
Three Ways to Reduce your Estate Tax Liability with Lifetime Gifts
Although the Tax Cuts and Jobs Act increased the federal estate tax threshold to a whopping $11.18 million for 2018, the Massachusetts estate tax threshold remains exactly where it’s been for years — at $1 million. That leaves Massachusetts families wondering how they can maximize their children’s inheritances by avoiding or reducing their estate taxes. […]
Three Estate Planning Essentials for Parents
In Massachusetts, simple estate planning for parents of minor children can be boiled down to three items on a “to do” list. My “To Do” list is a mile long. I’m going to guess that yours is, too. Every day, I write down the Top Three Things I need to get done that day. Schedule […]