Upon the death of a family member or friend, there are many details to see to in a short time. The emotions surrounding the loss make level-headed decisions difficult, and, once the funeral is over, there are many financial and legal tasks that must be dealt with. A letter of instruction can provide valuable guidance […]
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AARP Article: 5 Reasons Working From Home Benefits Older Workers — and Their Employers
by Kerry Hannon Over the next several months, every company in America with workers who spend most of their time on a computer has a decision to make: Which of their employees — the vast majority of whom will have been successfully working from home since March — should return to the office? And when? […]
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ElderLaw Answers: Is It Legal for My Mother to Name Her Financial Advisor as a Beneficiary in Her Will?
Q: My mother named her financial adviser and his children as beneficiaries in her will. Is it legal for her attorney to allow this? A: It is legal, but it raises red flags. In the United States, you can do whatever you want with your money: give it to your neighbor, your lover, your church, […]
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Forbes Article: 6 Estate Planning Tips For Blended Families
Written By: Christine Fletcher Remember the Brady Bunch television show that extolled the joys and challenges of blended families? Mike and Carol Brady were the iconic blended family, each bringing 3 children into the marriage and raising them as one big happy family. I wonder what their estate planning looked like. Did Mike leave everything […]
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4 Mistakes to Avoid When Designating a Beneficiary
When you open up a 401(k) or IRA account, you will be asked to designate the beneficiaries of your account. The beneficiaries you choose will receive the assets in the account upon your death. Many people choose their spouses or children as the beneficiaries of their 401(k) or IRA accounts. Most of us fill out […]
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How Does the CARES Act Impact RMDs in 2020?
Federal law requires individuals to take a required minimum distribution, or RMD, from their qualified retirement plans. The policy goal behind requiring people to take a certain amount of money out of their retirement accounts is so that the IRS can tax income. For example, every time a retiree takes an RMD from an IRA […]
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3 Tips for Estate Planning During a Pandemic
The coronavirus pandemic has been a wakeup call for everyone. Many residents of Southeastern Massachusetts have seen their financial security disrupted. Others have realized that they are not prepared for long-term incapacity should they contract the coronavirus. The coronavirus pandemic has shown that estate planning isn’t just for older individuals or just the wealthy. Every […]
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Kiplinger Article: Top 10 Estate Planning Tips in a Time of Coronavirus
The COVID-19 pandemic has many people finally taking action to fill out advance health care directives, wills and powers of attorney. Here are some tips to help you along the way. By Sam Nuxoll, It has arrived: the unexpected, potentially life-threatening circumstance you had in mind when you set up your estate plan, and now you’re […]
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Washington Post Article: The Purposes of Revocable vs. Irrevocable Trusts
A revocable trust and an irrevocable trust serve totally different needs. By Ilyce Glink and Samuel J. Tamkin Q: I am divorced and have two grown daughters. I am placing my house in a trust. My attorney is recommending an irrevocable trust. Which do you prefer, revocable or irrevocable and why? A: What we prefer has nothing to do with […]
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Article from The Berkshire Eagle: COVID Stats Don’t Measure Courage, Compassion
Written By William C. Jones PITTSFIELD — When the COVID-19 pandemic swept across the United States in March from Washington State and began its deadly rampage in Massachusetts nursing homes, our local communities naturally reacted with shock and fear at the damage wrought by this unseen and barely detectable disease. Almost immediately, people began asking […]
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