Estate planning involves the strategic allocation of your assets to ensure their proper distribution upon your passing. However, estate planning can benefit you even while you are still living. You can use it to ensure your personal care, healthcare needs and...
In Massachusetts, just like in many other states, the tax implications of inheriting an IRA can be significant. Without proper planning, your beneficiaries may face a hefty tax bill when they inherit your IRA. This could erode a large portion of your hard-earned...
If you have amassed a great deal of wealth and assets over your lifetime, you may worry how your heirs will use it. You may also worry about how your heirs will waste it. This may lead you to wonder whether you can use a trust to control how your heirs can spend your...
Things in our lives change, and when they do, we have to adjust accordingly to ensure that while we let life take its natural course, we still manage aspects that we can control. This concept suitably applies to estate planning. Even the smallest changes in...
No matter how much you try to guide your child, they cannot seem to pull it together when it comes to money. Nevertheless, you may want to include them in your will to make sure they are taken care of when the time comes. If you are concerned about your child...
As a pet owner, you share a profound bond with your furry companions. They are not just pets; they are cherished members of your family. Yet, have you ever wondered what would happen to them if something were to happen to you? It is a tough thought that responsible...
Television shows and movies depict the executions of last wills and testaments as tense struggles between rival siblings over the estate of their deceased relative. Often, the will would name a single beneficiary to inherit all the decedent’s assets at the climax of...
Most people who make a will have named an executor, also known as a personal representative, to take care of their assets after death. Beneficiaries expect the chosen executor to fulfill their fiduciary duties appropriately with respect to the deceased person and...
As stock options become more popular as part of employee compensation packages, people who aren’t traditionally wealthy must contend with how to deal with them. Stock options require extra care in estate planning. Some can be transferred to heirs; others will need...
You’re young and still feel like you have the rest of your life ahead of you. The reality is that you probably do. So, why would you need to think about an estate plan? The truth is that all adults should consider estate planning as soon as they can. As a young...
