If you know anything about estate planning, you have probably heard the term “executor” before. And you may even know that an executor is in charge of handling a person’s estate according to their last will and testament.
This is a question that is frequently asked to estate planning lawyers, and the answer is no. Parents are not legally required to leave anything to their children.
When it comes to estate planning, one of the biggest misconceptions is that only wealthy people need one. This simply isn’t the case. In fact, most people in Massachusetts and the rest of the country would benefit from an estate plan.
Families have always been complex, even if a century ago divorce, remarriage and adoption weren't as common as they are today. In any case, you'll want to create a comprehensive estate plan that reflects your family's particular goals and needs.
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.
An estate plan is something that everyone needs, but most people don’t want to talk about. That’s because it deals with an uncomfortable subject: death. For that reason, it can be especially hard to suggest that someone else such as a parent or a spouse needs an estate plan.
All lawyers in Massachusetts must follow the Massachusetts Rules of Professional Conduct, which provide the standards for legal ethics and professional responsibility.
In the past, most people didn’t earn a significant income until well into their 40s or 50s. However, today we have plenty of young entrepreneurs who have made millions before becoming middle-aged, thanks to the tech industry.
In a previous blog post, we discussed the virtues of having an estate plan in place. Without a will or plan created before the time of death, a person’s assets and real property will be distributed according to state law -- rather than his or her wishes. After all, those intentions cannot be verified without a clear written record.
Massachusetts residents may learn from the recent death of New York fashion designer L'Wren Scott. Scott was found dead from an apparent suicide in her Manhattan apartment in March. Although no note was found, foul play was not suspected. L'Wren Scott was the longtime girlfriend of Mick Jagger, lead singer and frontman for the Rolling Stones.