For busy Massachusetts families, often the last thing on their mind is the importance of having a life insurance policy in place. However, this optional investment can make a significant difference in the financial and emotional stability and health of dependents and other family members when a policy is obtained and secured.
When it comes to trusts, all sorts of issues can arise. Sometimes, problems can wreak havoc after the person who created the trust passes away. For example, a beneficiary might attempt to contest a trust in Massachusetts. There are a number of reasons why a beneficiary may believe that a trust needs to be contested. For example, they could be convinced that the trustor, or the person who set up the trust, was subjected to undue influence. Or, they could think that the trustor was mentally incapacitated at the time they signed the trust.
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.
If you are approaching the process of estate planning, you may have a wide range of questions. However, finding answers and making sure that you pinpoint the course of action that will protect your estate properly is vital. From trusts to wills, you may have various choices in front of you. Whether you live in Middlesex, or another part of Massachusetts, trusts may offer certain advantages that you should look into. For example, a trust may help your estate stay out of probate, which could be very helpful for your loved ones in the future.
When you have spent your life in Massachusetts carefully managing your assets and planning for the future, you want to know that your intentions are carried out after your death. Setting up a trust to support a charity or charitable purpose should ensure that your passions continue to benefit from your donations. At Curley Law Firm LLP, we often explain how your charitable trust may fare in the years to come.
Among the benefits qualifying individuals can receive from MassHealth is financial help with the costs related to nursing home care. Getting nursing home care they need can be of great importance to an elderly person’s overall health and well-being. However, such care can cost a lot. So, what effects trusts and other things can have on one’s MassHealth eligibility can be a significant issue for the state’s elderly population.
As an elderly individual gets older, one of the big issues that can come up is where they will live. This includes the big decision of whether they will continue to live at home or instead move into a senior care facility.
Estate planning can be used to address a range of concerns elderly individuals have about the future. This includes concerns regarding their pets. A pet can be a very beloved companion. So, an elderly pet owner may care very much about putting protections in place to ensure their cherished companion is cared for in the future, whatever the future holds.
Unfortunately, seniors can find themselves the targets of fraud schemes by scammers. Fraud schemes vary greatly in their specifics and in the methods scammers use to try to get their elderly targets to give them money.
The financial ramifications of elder financial abuse can be considerable. And the elderly victim of the abuse is not the only one that can suffer significant financial harm. The harm can spread out to affecting other members of their family. For one, it could impact family members who are their caregivers.