Estate Planning

Spouses need to be very careful or they could end up legally responsible for the cost of their husband’s of wife's nursing home care, as a recent Massachusetts court decision demonstrates.

Your will is a legally-binding statement directing who will receive your property at your death.  Why should you have a will? Here are some reasons.

Elderlaw 101

Congress sets the amount that an individual can transfer tax-free either during life or at death. The current estate tax exemption is so high that very few estates will have to pay an estate tax. ...

Elderlaw 101

Just as we create estate plans for our eventual demise, we also need to plan ahead for the possibility that we will become sick and unable to make our own medical decisions. ...

Elderlaw 101

There are some serious drawbacks to many options for giving gifts to grandchildren. Either there are no tax or estate planning advantages, or you have no control of the funds (or lose control after a certain point), or the money...

Elderlaw 101

Gifting assets to your grandchildren can help them get a good start in life — it can also reduce the size of your estate and the tax that will be due upon your death. You can accomplish this in different...

Elderlaw 101

For most people, the durable power of attorney (POA) is the most important estate planning instrument available — even more useful than a will. A POA appoints someone you trust to act in your place when necessary. ...

Elderlaw 101

Estate administration is the process of managing and distributing a person’s property (the “estate”) after death.

Elderlaw 101

Inheriting an IRA may seem like a good thing, but there can be tax consequences if you aren't careful. If you inherit an IRA, you should check with a professional advisor as soon as possible to find out your options.