For many individuals, making charitable donations is a way to give back to their community and support causes that are important to them. However, charitable planning can also play an important role in estate planning. Working with a Massachusetts charitable planning attorney to incorporate a strategic plan for charitable donations into your estate plan can […]
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How Do I Write a Business Succession Plan?
If you own a business, an important part of estate planning is to write a business succession plan. Your business succession plan ensures that the business you worked hard to build is preserved for future generations or is liquidated to maximize profits for your family members. A Massachusetts business succession planning attorney can help you […]
Continue reading…To die well, we must talk about death before the end of life
I would like to tell you an all-too-familiar story. It begins with a long-term care home resident, Laura, who has multiple chronic conditions and gets an infection that doesn’t get any better. Her health has been declining for months, but no one has talked to her about her preferences for end-of-life care. In the absence […]
Continue reading…Things You Can and Can’t Do With a Power of Attorney
Like most legal undertakings, setting up and enforcing power of attorney (POA) documents can be a confusing process. Yet, these essential tools can help aging adults and their families create a solid plan to address future care needs and gain peace of mind. Continue Reading…
Continue reading…How to Talk with Aging Parents About Estate Planning
During a recent webinar, one of the questions we were asked was about how to address the topic of estate planning with your aging parents. It can be a tough topic to bring up as it can be emotional. After all, no one wants to consider their own mortality. However, as we covered in the […]
Continue reading…Do Annuities in 401(k)s Work for Retirement Income?
The role of annuities in retirement planning is one aspect of the Secure Act that was passed by the House in May and is still awaiting a vote in the Senate. The Secure Act is supposed to make retirement better for communities, as is implied in its name—The Setting Every Community Up for Retirement Enhancement […]
Continue reading…Preserving and Protecting Your Assets with a Trust
Depending on how they are drafted, trusts can offer a way to leave a legacy, protecting assets while avoiding the costs of probate, as part of your estate planning. Probate is the court process in which assets may be delegated to certain individuals at death. This process can cost thousands of dollars and is time […]
Continue reading…It Can Be an Unpleasant Surprise but a 401(k) Is Taxable
It turns out as a surprise to some retirees but the withdrawals from a 401(k) are taxable. However, it is important to remember that the contributions are beneficial, because they lower taxable income, according to Market Watch in “How 401(k) savers can avoid a nasty surprise come retirement.” However, there’s always payback where Uncle Sam […]
Continue reading…Ask Your Parents about Their Financial Plans
The key to learning about the financial plans of your parents, is to ask for advice on your plans and then ask about their plans, according to “Ask your folks about their financial plans.” Start by explaining your own plan, how you’ve decided to set up your estate and then ask what they’ve done for […]
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Five Devastating Mistakes in Special Needs Estate-Planning
Estate planning is essential for every family, but especially for families with members who have special needs. When a caretaker passes away, there must be a plan in place that provides for the continued care of a special needs individual. Unfortunately, individuals who fail to consult a Massachusetts special needs planning attorney can make devastating […]
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