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Legal Resources

This month:

May 12: Mother’s Day May 15: Exempt organization tax returns due May 27: Memorial Day With tax season in the rearview mirror, it’s full speed ahead into tax planning season. While it’s important for everyone to have a tax roadmap, there are key situations that require extra attention so you can avoid a major tax pothole. This issue includes lessons to learn from some high-profile tax scandals, sneaky vacation costs that can ruin your vacation, and

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Finding the best retirement calculators

Figuring out how much to save for retirement and when you can safely stop working can be difficult. A growing number of online retirement calculators, many of them free, are available to help. Although these calculators can yield vastly different results, they can be useful tools. Based on information about you and your finances, calculators try to predict how much you need to save to achieve your retirement goals. Some calculators are web-based, and others require

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New brokerage account safeguards aim to protect seniors

As the population ages, elder financial abuse is a mounting problem, and vulnerable seniors can become victims of scammers who convince them to empty their investment accounts. Now, new rules have been put in place to protect seniors with brokerage accounts from financial scams. According to the Financial Industry Regulatory Authority (FINRA), the organization that regulates sales of securities, its Securities Helpline for Seniors has received more than 12,000 calls and recovered more than $5.3 million

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When can you delay taking Medicare?

Although you’re eligible for Medicare at 65, there are circumstances in which you might not want to apply, particularly if you’re working for a larger employer or contributing to a health savings account (HSA). However, you may face penalties if you don’t sign up at the right time, so it’s important to know when you can delay signing up without a penalty. You can first sign up for Medicare during your Initial Enrollment Period, which is

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It’s now harder for veterans to qualify for long-term care benefits

The Department of Veterans Affairs (VA) has put in place new rules that make it more difficult to qualify for long-term care benefits. The rules, similar to those already in force for Medicaid, establish an asset limit, a look-back period, and asset transfer penalties for claimants applying for pension benefits that require a showing of financial need. The main VA benefit for those needing long-term care is Aid and Attendance, which offers money to low-income veterans

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The new tax law means it’s now time to review your estate plan

The tax law signed in 2017 doubled the federal estate tax exemption, meaning the vast majority of estates won’t have to pay federal estate tax. But that doesn’t mean you should ignore its impact on your estate plan. The law doubled the federal estate tax exemption to $11.18 million for individuals and $22.36 million for couples. (These figures are indexed for inflation, so in 2019 they are $11.4 million and $22.8 million, respectively.) The tax rate

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MassHealth Fair Hearing

Date: Monday, April 8, 2018 Time: 11:00AM Location: MassHealth Enrollment Center, Tewksbury, MA Summary: Attorneys Margaret Cross-Beliveau and Gina Walcott will be representing a Settlor of an irrevocable income only trust who has been denied eligibility for long term care due to a special power of appointment clause within the trust.

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Don’t Leave Your Business Exposed

5 Insurance Tips to Protect Your Assets and Your Bank Account Have you conducted a business insurance review lately? Changes in your business equipment, real estate holdings, the amount of inventory, and the number of employees are all good reasons to review your insurance. Here are a few policy review tips to consider:

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Don’t Let Disaster Befall Your Favorite Charity

A crucial deadline is approaching and you can help! The filing deadline for most non-profit organizations is May 15. Missing this deadline results in penalties that can devastate the organization’s budget, or worse, strip them of their non-profit status and make your donations non-tax deductible! Here’s what you can do to help them:

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Tax Day is Here!

5 Big Questions People Are Asking The individual tax deadline of April 15 is fast approaching. Do you have all your tax arrangements in order? Here are five important questions that people are asking.

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