You may already have a will or have plans to create one. However, if you have substantial assets, have a complicated situation or value privacy, you may benefit from creating a living trust as well as a will. A living trust is a type of trust that you can create...
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4 Common questions about the probate process
After your loved one passes, their estate will have to go through probate. Probate is a process by which a court validates the contents of your loved one’s will so that their assets can be properly distributed. But for those who are unfamiliar with the process,...
Do I need to name an executor in my will?
Have you ever wondered who will manage your estate and the probate process after you die? If you have close family members, such as a spouse or children, the answer may seem obvious. There are many people, however, who may not be so sure. In such a case, failing to...
Funding a special needs trust for your child
Taking care of your special needs child is one of the most important parts of your life. While your child may rely on Medicaid or other government programs to take care of basic expenses, you chip in for any extra expenses needed. But how do you fund your child’s...
3 critical decisions when drafting your will
Too many families in Massachusetts and across the country do not have wills. A recent study says nearly half of those surveyed are without any estate plan and women are more likely not to have a will in place. Many reasons are given, including a reluctance to think...
What duties am I responsible for as a personal representative?
If you are the personal representative of a loved one’s estate, you were either named as such in your loved one’s will or appointed by a court. Serving as a personal representative, sometimes called an executor, can be an honor. However, it is also a serious...
When you may want to consider a trust rather than a will
There is no single correct way to organize your estate plan. You might employ a number of different potential strategies, each with advantages and disadvantages. That includes the use of a will. While a will has many benefits, there are scenarios in which you might...
What to know when considering an advanced health care directive
Planning for the future can be a daunting task, especially when you don’t know what lies ahead. An advanced health care directive allows you to remain in control over what happens to you in the event of incapacitation.Two common types of advanced directives are health...
Is falling inevitable as your parents age?
As an adult child of aging parents, you likely have many things you want to help your parents consider while planning for the future. Pre-determining how they want to meet their medical needs may require a great deal of thought, conversation and...
Creating a will means embracing choice
A person is often unable to make many choices about his or her own death. However, you can make choices about what you want to happen after your death. One way to embrace those choices is by creating a last will and testament.There are many benefits to creating a...