As more Americans are choosing to get married later in life, prenuptial agreements are becoming more common. The biggest reason for this is that spouses are bringing more property into marriages than ever before, including real estate, retirement plans and businesses.
The unfortunate reality is that excuses abound when it comes to executing an estate plan. Indeed, statistics show that over 50 percent of the population here in the U.S. has not taken a single step in this regard, with people frequently citing the same excuses such as their age, their lack of assets, or their lack of time.
Trusts are an important facet in the estate plans of many Massachusetts residents. Trusts can be created to meet a variety of unique needs such as tax minimization, probate avoidance or creditor protection.
The granddaughter of a wealthy widow said her family has been through what can only be described as a “bad Lifetime movie” after they were allegedly swindled out of the family fortune by a man who befriended the grandmother.
Many Massachusetts homes have been in families for generations. Although one might think it would be as simple as handing over the front door key to a son or daughter, passing down a valuable asset like a home is much more complex.