Leona Helmsley wanted to make sure someone cared for her pet after her death. She left $12 million to her dog, Trouble, in her estate plan. If it seems excessive, the probate court agreed. They reduced it to $2 million. Most people with pets don’t have $2 million to bequest to them. Most people simply […]
trust
Do You Need a Trust?
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 […]
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 […]