May 2011

How can a spouse ensure that no monetary assets are left to the other spouse with a revocable trust and pour over will?

Additional Information: The spouse would like to leave all assets, tangible items, and insurance payouts to the children only. ATTORNEY ANSWER: There is no requirement that a spouse leave assets to the other spouse in a revocable trust or a will. However, most states have statutes which allow the disinherited spouse to make an election against the decedent’s estate to claim a spousal share. 

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Real Estate Newsletter May 2011

To view our most recent real estate newsletter as e-mailed to our clients, click Real Estate Newsletter May 2011 The Beliveau Law Group: Massachusetts | Florida | New Hampshire The attorneys at The Beliveau Law Group provides legal services for estate planning (wills and trusts), Medicaid (planning and applications), probate (estate and trust administration), business law (formation and operation), real estate (residential and commercial), taxation (federal and state), and civil litigation (in connection with these practice

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Probate of company stock

Additional Information: I am in charge of an estate and I put the will in probate on 2/2010 and the estate was left 45% of a company and the other 55%.  The man who is running the company was left the 55% and we asked him to buy us out and he said no and is not willing to negotiate a purchase price.   How do I go forward with this situation ? Also he has

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Nursing home legalese?

Additional Information: My Mom, who is 87 yrs. old and has dementia/early Alzheimer’s, is living with me.  She owns a home, which my daughter and her family are living in currently.  What can I do to prevent the seizure by Medicaid of her home when she has to enter a nursing home, if anything? What are my options with this? ATTORNEY ANSWER: Medicaid will not seize a home if your mother enters a nursing and is

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I probably need an attorney who is an expert on estate planning or Elder Care Law.

Additional Information: My Father died intestate & my surviving 93 year old mother refuses to discuss a will so she will also die intestate. I would like to add my sister’s name to the deed on my Mother’s house so the house will be owned as Joint Tenants with rights of survivorship. This way when my Mother dies, we can avoid probate. Right now the deed has both my deceased Father & living Mother as owners.

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How will Medicaid treat my dad’s life estate in our home?

Additional Information: My dad broke his hip at his house, there are just too many stairs for him to safely navigate.  We sold my dad’s house; used the money as a downpayment on our new ranch style house for myself, my wife and my dad. We went though an Massachusetts eldercare lawyer who created the deed giving my dad a life estate and my wife and myself ownership after my father’s death. My name is the

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Which will controls?

Additional Information: My friend had a will and then wanted changes.  She had the lawyer draft the changes but she never signed the changes.  Does the lawyer refer to the original will or can the changes be added without her signature? ATTORNEY ANSWER: Your friend’s Last Will and Testament will be the controlling document. The court will not honor an unsigned Codicil. Margaret L. Cross-Beliveau, Esq., LL.M. Legal Disclaimer:

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IRS encourages tax professionals to participate in one of its 2011 Nationwide Tax Forums

As reported in RIA Newstand: IRS is heavily promoting the importance for tax professionals to attend one of the events scheduled as part of the 2011 IRS Nationwide Tax Forums. As described by the agency, the tax forums are three-day events presented by IRS experts and partner organizations that offer up-to-date information on federal and state tax issues. Those who register early will receive a significant discount on the registration fee. The early registration period closes

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Look Before You Leap into Summer Rentals

According to a recent Boston Globe article entitled Owners out, vacationers in, more and more Cape Cod residents are opting to move out of their homes for the summer to share in the lucrative summer rental market.  However, as discussed in the upcoming Beliveau Law Group June Tax newsletter there are tax implications that you need to consider before renting out your home.  There are contractual pitfalls which need to be considered as well.  What are

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