Longer lives don’t always mean healthy lives; according to the Alzheimer’s Association, about half of people who live past age 85 will suffer from some form of dementia. Watching a loved one lose their language, reasoning abilities and memories is tragic, which makes it important for them to have an estate plan. When you’re caringRead more
No one wants to think about the end of life, but everyone should put their end-of-life wishes into writing. Making an estate plan isn’t just for the wealthy and it is not limited to a last will and testament. It can prevent unpleasant family disputes, take care of your dependents, and can ensure that you’llRead more
When a loved one passes away, it’s difficult enough without having to sort out emotionally fraught estate issues. Plus, there are laws that govern the transfer of property which can make everything more complicated while you just need to grieve. It’s best to plan ahead so that you and your loved ones never have toRead more
As you work with your attorney to plan your estate, one tool you may consider implementing is a testamentary trust. This type of trust is created in your last will and testament, with terms specified in the will. Unlike living trusts, testamentary trusts only start to act after your death. This means you’re able toRead more
Without a will, state law will determine what happens to your property that goes through the probate courts. This process is referred to as “intestate succession.” Your property will NOT pass to the state; instead, the law directs it to pass to your next of kin as illustrated in the chart below. In Massachusetts, consultRead more
Part of life is a role reversal that hits as our parents reach old age. For many people, at some point they become incapable of truly caring for themselves or maintaining their own home, at which point that role reversal hits, and the children become the caretakers. By this time, the children have often reachedRead more
Living trusts are a critical part of many people’s estate plans. Like wills, they are a method of transferring assets to your beneficiaries after your passing. However, they have many benefits that wills do not, which is why estate planners often urge clients to set up living trusts rather than relying solely on their lastRead more
One question we commonly receive from clients is whether or not estate planning is really necessary in their situation if they do not have any children. This is a well-meaning question, but it shows a general misunderstanding of what exactly estate planning is and why it’s important. Estate planning is more than just leaving behindRead more
Occasionally, we hear from clients or from others who have some objections to the idea of Medicaid planning in the context of paying for nursing home care. MassHealth is the Medicaid Program in Massachusetts. These objections are understandable to a degree—Medicaid planning does sometimes involve strategically eliminating assets so you can qualify for Medicaid andRead more
Medicaid is the single-largest source for funding nursing home care that exists in the United States. In Massachusetts, the Medicaid program is called MassHealth. With as prevalent as it is, one would think the general population would be more knowledgeable about it, including who qualifies and exactly what it covers. However, there are a lotRead more
