While our blog always makes a point to highlight the importance of estate planning, we took a slightly different approach this past summer by exploring how Massachusetts' intestate distribution scheme works. Specifically, the intention was to demonstrate how inaction in this area could result in hard-earned assets being divided among family members you perhaps wouldn't have chosen -- or even the Commonwealth.
Keep these points in mind when executing a will
Somewhat shockingly, a recent survey found that as many as 64 percent of adults here in the U.S. have not taken the altogether vital step of executing a will. This effectively means that the laws of the state in which they reside will decide how their hard-earned assets will be divided and, by extension, that the special needs of certain loved ones may not be adequately covered.
Is it possible to refuse an inheritance? - II
In our last post, our blog spent some time discussing how those individuals who learn that they will be receiving some sort of inheritance from a deceased family member or friend may ultimately find themselves feeling flattered that their loved one left them a gift, but also wondering if they really want it.
