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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Five Asset Protection Strategies for High-Net-Worth Estates
The main goals for many individuals preparing an estate plan are protecting assets for future generations, reducing estate taxes, and exercising control over how their estate is distributed. For high-net-worth estates, advanced planning is essential to achieve those goals and other goals individuals might have for their estate. A Massachusetts estate-planning attorney can devise strategies […]
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Focusing on Elder Financial Fraud
Because seniors are particularly vulnerable, they are at a higher risk of being exploited financially. When seniors are forced to manage their own retirement funds while coping with an array of health issues, the potential of being victimized by financial fraud is high. If you or a loved one has been the victim of elder […]
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Planning Your Estate After A Divorce
Going through a divorce is a difficult transition that involves a number of considerations, not the least of which is how to divide the marital property. During this trying time, it is important to control your emotions and maintain your objectivity. Once the divorce is settled, it is also crucial to revisit your estate plan. […]
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