You set up a trust years ago, and you've been putting assets such as your home in Massachusetts into it, updating it as needed. After all, you are determined that your beneficiaries get all of your assets with as few tax consequences as possible. However, what if the unthinkable happens before you have a chance to make the most recent updates?
We have covered some of the different issues that arise with respect to wills, but it is important to keep in mind that certain events (such as a death or divorce) or a change of heart may necessitate key revisions to an estate plan. For example, you may need to change the executor of your will because the previous person you had assigned these responsibilities to is no longer capable of serving as the executor or you do not want them to have these responsibilities. There are a number of important points to keep in mind when it comes to naming an executor.
When it comes to wills, there are all sorts of different challenges that may arise and our law firm has covered many on this blog. However, there are far more questions and concerns that people may have with respect to their will, such as changing the executor. There may be a variety of reasons why you have decided to change the executor, from ending your marriage to becoming estranged from the person you have named the executor or losing confidence in their ability to carry out these responsibilities. Regardless, it is important to approach these issues with care.
When you hear the term “holographic will,” it might remind you of Princess Leia’s plea to Obi-Wan Kenobi in the original Star Wars movie.
If you are unfamiliar with the language of estate planning in Massachusetts, the thought of probate could seem overwhelming. However, it does not have to be. We at the Curley Law Firm often guide spouses, children and other family members through the legal process.
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.
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.
To most people, estate planning is about planning for their financial futures. However, a comprehensive estate plan involves more than just putting money in a 401(k) or drafting a will. It encompasses all of the things needed to help a person enjoy their retirement. As such, future retirees will need some assistance planning for the non-financial aspects or retirement. This post will identify some of these elements.
Modifying your will after major life changes is the best way to make sure your Massachusetts estate is distributed according to your wishes. However, if you have married since you wrote the will and you did not make updates, your spouse may still receive a portion of the inheritance. We at the Curley Law Firm have often advised clients on how assets may be allocated when a will has not been adjusted to reflect the current family situation.
Yesterday was World Password Day. This day is aimed at raising awareness of the importance of strong passwords when it comes to cyber-security. So, passwords are something that might be fresh on a lot of people’s minds right now.