Salem Massachusetts Estate Planning Law Blog
The importance of follow-through in estate planning
It's important to get estate planning right by actually following through on plans made with the help of professionals. Experienced estate planners in Massachusetts know all too well that they can lead a horse to water, but they can't make it drink. All the best...
What taxes are due for a deceased person in Massachusetts?
A person's debts do not go away after he or she dies. Creditors could file claims against the estate. If solvent, the estate may need to settle the debts, including ones related to local and federal taxes. Estate heirs and trust beneficiaries in Massachusetts may...
Estate Administration And The Fiduciary Duty
On its face, estate administration seems rather simple. After all, it is merely the process of handling an estate, ensuring that assets and debts are handled in accordance with estate planning documents and in compliance with the law. Yet, oftentimes disputes arise between estate administrators and beneficiaries. These disagreements can lead to probate litigation.
Preparing for the unexpected when owning a business
It is never too early for Massachusetts business owners to begin the process of estate planning. There is always a risk of unexpectedly becoming incapacitated or suffering an early death. When this happens, it is generally harder on the asset holder’s family and...
What is required for a will to be valid?
A will is an important part of most estate plans. Because it is typically a foundational component of the estate planner’s estate plan, and of achieving their wishes, estate planners should be familiar with the requirements for a will to be valid. What makes a will...
Using a special needs trust
As most residents of the Boston area know, Medicaid is a federal economic assistance program that is designed to provide financial help to persons with disabilities and limited income. In order to qualify for Medicaid, a person’s income and assets cannot exceed the...
Medicaid planning can include irrevocable trusts
Salem area residents may already know that a stay in a nursing home can be extremely costly. They may want to utilize Medicaid benefits to help pay for long-term care but may be concerned that they will have to deplete their assets to qualify, leaving their heirs with...
Careful planning for incapacity helps estate planners and family
The importance of planning for incapacity cannot be overstated. Planning for incapacity in advance can be helpful for estate planners and their loved ones if the estate planner becomes incapacitated at some point. Incapacity can make it difficult, or impossible, for...
Courts to Begin Gradual Reopening
Last week, the Supreme Judicial Court issued its third updated order on court proceedings during the COVID-19 emergency. At long last, courts will begin a gradual reopening process to the public, with more in-person hearings being scheduled after July 13, 2020. The...
An estate plan can reduce the possibility of sibling discourse
There are many families in the Salem area who have taken the time to create an estate plan. For those who haven’t, they may know the reasons why an estate plan is a good idea but haven’t had the time yet. To add to the list of reasons why an estate plan is important...
