Estate Planning
Another Kind of Conversation
A discussion with your estate planning attorney can also be essential for a family’s peace of mind.
Read MoreNo Contest Clauses (in terrorem clauses)
In Massachusetts, a no-contest clause is given full force and effect. Therefore, if the settlor so chooses, a clause can be included in a will to disinherit an heir who attempts to challenge the will’s provisions. But be aware: if a trust is set up, such a clause should be included in each separate document…
Read MorePlan to Pay more Estate Taxes and it Might Pay Off
Under the 2010 law, there was a modified carryover basis. With a carryover basis, inherited assets are transferred to heirs with a tax basis equal to the original cost of the property.
Read MoreHomestead Act Revised: Bill 2406
Governor Deval Patrick received a revised Homestead Act, Senate Bill 2406, in the beginning of December, which would act to automate homestead exemption of $125,000 for every homeowner in Massachusetts.
Read MoreThe Estate Tax Conundrum
The Boston Globe recently reported that tax cuts remnant from the Bush administration imposed no estate taxes in 2010.
Read MoreThe Trust-Trustee Relationship
It’s not uncommon for minors who own trusts to disagree with the measures co-trustees approve on their behalf.
Read MoreEstate Planning Advice for Seniors
If you’re a senior and you have yet to write your will, you should do so as soon as possible. It is common that will contests arise when the testator was elderly and sick at the time of will execution. This is because in order to be a validly executed will, the testator must have…
Read MoreThe Importance of Having a Will
Having a will promotes peace of mind and satisfaction during life. It gives us the comfort of knowing that upon our death, our property will be disposed of as we see fit. Many of us make the mistake of putting off writing a will because it forces us to confront our own mortality. However, it…
Read MoreWhy create a trust that gives a Trustee Discretion?
The process of choosing the right kind of trust for you can be confusing. If you want to protect the beneficiary’s interest from his own improvidence or to just give wiggle room for changing circumstances, one excellent option is the discretionary trust. A discretionary trust is one in which the beneficiary doesn’t have a right…
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