Posts Tagged ‘Estate Planning Law’
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 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 MoreAnother Estate Tax Deadline Looming
By November 15, 2011, an important estate planning decision must be reached: either opt to have the imposed federal estate tax rate reached last year by President Obama and Congressional Republicans, or opt out. If you opt-in, then assets on your estate are subject to a 35% tax rate after the first 5 million dollars;…
Read MoreStandby Guardianship of Minor Children
Every parent, for their own peace of mind, should have a standby guardianship in place ready to be used if the situation occurs where neither parent is available to care for the minor children.
Read MoreThe Will of a Professional: Have an Estate Planning Attorney Draw up Your Will
Estate planning is one of the things that everyone knows they should do, but many people continue to put off until it is too late. Without a will, you forfeit the right to specify how your assets are passed down. In such cases, the state decides how your property will be distributed. Many individuals think…
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 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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