Estate Tax Planning: Minimizing the Estate Tax Burden
Estate tax planning plays a crucial role in minimizing the estate tax burden that your heirs might face. Understanding the essentials of estate tax planning can help reduce the impact of estate taxes. Understanding Estate Taxes in Massachusetts Estate taxes, often referred to as “death taxes,” are levied on the value of your estate when […]
The Corporate Transparency Act
In an era dominated by global commerce and intricate financial networks, the necessity for corporate transparency has become increasingly apparent. Recognizing this imperative, the United States Congress took a significant step forward by passing the Corporate Transparency Act (CTA) in 2021. This groundbreaking legislation aims to enhance the transparency of beneficial ownership information, fortify national […]
Revolutionizing Estate Planning in Massachusetts: Navigating the Impact of the New Estate Tax Landscape
In a groundbreaking move, Massachusetts legislators unveiled a transformative $1 billion tax relief package on September 26, 2023, which was swiftly enacted into law by Governor Maura Healey on October 3, 2023. This comprehensive legislation, designed to provide relief to families, businesses, and individuals across the state, carries profound implications for existing estate plans, with […]
Living Trusts vs. Wills: Which Is Right for You?
Planning for the future is crucial, especially when it comes to protecting your assets and loved ones. Estate planning provides the opportunity to make important decisions about how your estate will be handled after you’re gone. In this realm, two common options arise: living trusts and wills. Both serve important purposes, but understanding the differences […]
The Consequences of Dying Intestate as a Single Real Estate Owner: A Comparative Look at Massachusetts, New Hampshire, and Florida
The Perils of Dying Intestate Every person’s ultimate goal in estate planning should be to maintain control over his or her property and have his or her final wishes honored. However, when an individual dies without a will, this control is forfeited, often leading to consequences that may be far from what the decedent would […]
Navigating the Tax Implications of Selling Real Estate Subject to Probate
Estate planning attorneys play a vital role in helping clients protect their assets and ensure a smooth transition of wealth to their loved ones upon passing. In the states of Massachusetts, New Hampshire, and Florida, where we practice, the tax implications of selling real estate subject to probate can be a complex and crucial aspect […]
Long-Term Care Planning and Asset Protection: Safeguarding Your Future
As experienced estate planning lawyers, we understand the importance of safeguarding your assets and ensuring your future well-being. In this article, we will provide you with valuable insights into the complexities of long-term care planning and how it can be an integral part of your overall estate plan. The Rising Importance of Long-Term Care Planning […]
How to protect assets of a parent with dementia from being taken by a care giver?
ADDITIONAL INFORMATION: My father has been diagnosed with advanced dementia. He started seeing someone he met online. She has restricted access to him from his friends and family and controls his finances. She has moved him and changed his phone number. We don’t want to go to court to declare him incompetent as he’d never […]
Does a person who takes care of a person before the person dies have rights to the deceased person’s house?
ADDITIONAL INFORMATION: My friends grandma passed away and him and his sister were taking care of her before she passed away. The uncle is the other person who was on the mortgage. The uncle is threatening to evict my friend. Does my friend have any rights to the house? He never signed any lease or […]
My dad left everything in his estate to me, but there is a trustee comment involving my uncle. Would I need him to sign off?
ADDITIONAL INFORMATION: In the Will it specifically states “In the even that the beneficiary (myself) has not reached the age of thirty (I am 33), then in such even I give, devise and bequeath the shares of my beneficiary to my trustee (my uncle)” Summed up the rest of that section says if im under […]