When it comes to estates, various questions may arise, from the early stages of planning until after one passes away. If you have decided that a will is the best way to protect your estate, it is essential to closely look over some of the different questions that you have or decisions that you could have to make. For example, you might have difficulty with naming beneficiaries. At Curley Law Firm, we know that it can be very hard to decide how to distribute your property among beneficiaries. However, it is pivotal for people in Middlesex and other Massachusetts cities to make sure that they work through this phase appropriately.
With regard to estate taxes, there may be a number of questions on your mind. However, it is important to have a solid understanding of some of the basic terms if you are preparing to plan ahead and reduce or even get rid of estate taxes. If you live in Middlesex, or another city in Massachusetts, having familiarity with some of the basic estate tax terms, such as federal gross estate, can help you understand your situation better and make sure that you properly prepare for estate taxes.
When Massachusetts families are faced with the passing of a loved one, you'll soon discover that there's an entire world of complex legalities behind it. Even when dealing with the emotional traumas of a death, these issues will still need to be tended to.
When people in Massachusetts think about an inheritance, they may have more in mind than a loved one's financial assets. In fact, many family conflicts begin over who will get an heirloom or another personal item that may have little or no financial value at all. The General Court of the Commonwealth of Massachusetts states that information regarding who will receive tangible property after the owner's death may be included in a separate writing as an addendum to a will, and may be created either before or after the will is executed.
One of the most painful aspects of life that the elderly in Massachusetts face is the prevalence of scammers who seek to prey on their life savings. Here is some information about fraud on the elderly and some of the solutions that elderly people and their families can use to protect their assets and peace of mind.
The court in Massachusetts may appoint a guardian for an elderly person who lacks the ability to make important decisions regarding his or her own care. According to the Massachusetts Guardianship Association, someone requesting the guardianship must provide evidence that the person in question is incapacitated and needs a guardian to make health care and other decisions for him or her. Normal guardianship does not cover all medical circumstances, though, and in some situations, the court may require a Rogers Guardianship.
In the first part of this series, we explored intestacy and wills. Today, we will delve deeper into what Massachusetts estate planners should know about trusts.
At Curley Law Firm, L.L.P., we have answered many clients' questions about Massachusetts estate law. One of the most fundamental questions that all of our clients face is which type of estate plan is right for their needs.
When you are creating your estate plan in Massachusetts, you have many options to consider. You can use a simple will, a trust, or even a charitable trust to manage your assets after you are gone. It is important to know the specific rules that apply to each type of estate plan before you choose which one to employ.