Magazine Archive
Magazine Archive
Contingency and Disaster Planning: Ensuring your estate doesn’t end up with the state
The primary purpose of an estate plan is to give legal effect to your wishes regarding the distribution of your assets upon your death. This is important because if you fail to make an estate plan, you leave it to the Commonwealth to decide how to distribute your estate.
The Phases of Motherhood: As Your Children Mature, So Should Your Estate Plan
Mother’s Day is a time to celebrate mothers in all stages of their lives. From soon-to-be mothers to great-grandmothers, estate planning with asset protection in mind helps you support your children even after your death and helps ensure more assets are passed to the next generation.
The Enduring Value of Asset Protection Trusts
Considering that almost half of marriages end in divorce, worrying over the possibility of an adult child's divorce is common for many parents. If you are a parent of two married children, there's about a 50 percent chance one of your children will get divorced. If you have three or more children, the possibility becomes even more likely. Statistics aside, if your parental instinct says that your child's marriage is in trouble, it probably is. While you can’t prevent a child’s heartbreak, you can utilize your estate plan to ensure financial turmoil doesn’t compound the anguish of a foiled “happily ever after.”
Your Estate Plan and the Gift of Education
The Pioneer Valley, home to the Five Colleges, could be branded “Education Valley” because its history and values are deeply rooted in the pursuit of knowledge.
When our clients desire to fund education for their children and grandchildren, here are some legal techniques we deploy:
Trusts
A Matter of Life and Death
What happens when Uncle Sam and the Grim Reaper join forces? The death tax, otherwise known as the largest tax bill you’ll ever pay but never see. Thankfully, unlike death itself, this tax can be avoided or minimized with proper estate planning.
The Best-Laid Plans Aren't Left to the Commonwealth
If you don’t have an estate plan, you’re not alone. In fact, most adults die without one. Even notable figures like Kurt Cobain, Abraham Lincoln, Howard Hughes, Prince and Pablo Picasso died without a will.
Why do so many people – from former presidents and rock stars to your family members and friends – work their entire lives to accumulate assets but fail to spend mere hours deciding how their assets should pass when they die?