The Landmark SCOTUS Decision that Impacts your Inherited IRA
In a landmark decision handed down on June 12, 2014, the United States Supreme Court held that inherited IRAs are not protected from creditors in a bankruptcy claim. In Clark v. Rameker, the Supreme Court unanimously held that retirement funds inherited by a beneficiary after the original plan participant’s death are not considered “retirement funds”…
Read MoreElder Care and Medical Marijuana in Massachusetts
The Massachusetts Act for the Humanitarian Medical Use of Marijuana (Medical Marijuana Law) took effect on January 1, 2013, legalizing the use of marijuana for medicinal purposes and exempting individuals with qualifying medical conditions from being penalized under Massachusetts law for marijuana use. To become a “qualifying patient,” a doctor, licensed in Massachusetts, must have…
Read MoreImportant Graduation Safety Reminder for your 2014 Graduates
Do you have a child 18+ years of age? What happens if he/she is injured in a car accident? Did you know that once your child/grandchild turns 18: You no longer have access to his/her medical records You no longer can call a hospital and see if he/she is admitted after an accident You no…
Read MoreAn Introduction to High-Net Worth Estate Planning
Estate planning is an important concern for anyone who desires their affairs be handled according to their wishes after their death. Planning for high-net worth individuals and families is complex and dependent upon the particular desires of the family. High-net worth estate planning should be handled carefully, so that your estate, which you’ve worked hard…
Read MoreCollege Planning for Special Needs Students
College is an investment in your child’s future and it is no doubt worth it, but with education costs rising, it can certainly be expensive. Planning for your child’s education should be a priority and many benefit from starting early. Starting a “college fund” in a child’s early years can be a smart investment, as…
Read MoreEstate Planning is for Everyone
A common planning misconception is that only those with vast assets need an estate plan. But, it is important to emphasize that estate planning is not just for the wealthy. For many, the word “estate” conjures up a Downton Abbey-like property and an overwhelming amount of zeros on your bank account balance, but estate planning is a must, regardless of your tax bracket. An estate plan concerns…
Read MoreBitcoins and Estate Planning: Bequeathing Cryptocurrency
With the prevalence of Bitcoin as a form of digital currency, new considerations must be made when it comes to a variety of legal concerns. We recently looked at the repercussions of Bitcoin on divorce, but that is only the tip of the iceberg when it comes to the ways that Bitcoin is influencing how…
Read More5 Must-Have Estate Planning Documents
As the New Year progresses, there is no better time to start thinking about estate planning. To start your year off right, here is a checklist of the five must-have pieces to every solid estate plan. 1. Will This is the most obvious starting point of every estate plan – and, in fact, most people who have done some form of estate planning probably…
Read More5 Estate Planning Nightmares from Around the Country
With the proper estate planning, the following situations could have been avoided. The truth is, many fail to adequately plan their estate, which can potentially lead to outcomes such as these worst-case scenarios. 1. Mom had been in the nursing home on private pay for over 7 years. After paying over $700,000 to the nursing…
Read MoreHow Estate Taxes May Impact your Life Insurance Policy
In the process of estate planning, there are many things to consider. An estate planning attorney can be essential to formulating a sound plan that is best tailored to your individual situation and long-term legacy. Life insurance is a staple of many estate plans, but there is one factor that is often overlooked when people start thinking…
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