Homestead 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 MoreWall Street Journal Small Business Q&A
A November 15, 2010 Q&A in the The Wall Street Journal featuring senior editor Barbara Haislip, examined how to handle estate succession, how to get an estate plan reviewed, and how to find female investors.
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…
Read MoreAbout Special Needs Trusts
There are a few ways to fund a special needs trust. The trust can be funded through a will, or any type of donation or gift made directly to the trust. Or the trust can be funded with life insurance policies. In this case, upon the death of one or both parents, the insurance policy pay-out would directly fund the trust for the benefit of the disabled person.
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