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Financial assistance for a veteran
There has been much discussion regarding the benefits available to veterans, their families, and their surviving spouses. While the benefits for disabled veterans with a service-connected disability...
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Pooled Trusts – a way for one to continue receiving public benefits in...
A pooled trust is one that is established and administered by a non-profit organization. Similar to a fund that may hold retirement benefits, which is a large fund with segregated accounts for each...
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Pet trusts arrive in Massachusetts
On January 7, 2011, Governor Deval Patrick signed into law “An Act Relative to Trusts for the Care of Animals,” which will take effect on April 7, 2011. The Act states simply that “[a] trust for the...
View Article2011 by the Numbers
The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 has extended and changed a number of tax provisions for 2011. Here’s a handy cheat sheet to help you keep track of it...
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Estate and elder planning documents: Do the documents work if no one else...
So, you have done all of the hard work for your estate and elder planning. You have listened to counsel and thoughtfully considered what you might want to sign, and who to appoint in a durable power...
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Facebook as a virtual gravesite
According to Entrustet, a digital asset planning company, 480,000 United States Facebook users and 1.78 million international Facebook users will die in 2011, which works out to about one death every...
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Trustees, fees, and duties – carefully consider your responsibilities before...
Accepting an appointment as trustee over an individual’s trust is accepting great responsibility and the possibility that your actions may be reviewed and criticized one day. Consider the following...
View ArticleHealth care proxies for students
It is April again, that time of year when spring finally arrives in Massachusetts, the snow is melting, and high school students everywhere find out where they will be attending college in the fall....
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The perils of estate planning and retirement benefits
Whether it is a 401(k), 403(b), or just a regular IRA, for many people, their retirement benefits are their largest asset. That is no surprise, since retirement plans are built up over decades of...
View ArticleSpecial needs trusts - security for your special needs loved one
This video will help you understand why special needs trusts are so important to help support your loved one in need without disqualifying the person from government benefits. Todd C. Ratner,...
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Same sex couples may now receive Medicaid spousal protections
The United States Department of Health and Human Services (HHS) has announced that it will now allow states to extend Medicaid long-term care protections to same sex domestic partners that have...
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Pretermitted - what it means to omit a child from your will
Although a surviving spouse may not be disinherited, there is no obligation under the law for a person to leave assets to his or her children. Nonetheless, the law does require that the testator of...
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Social Security and marriage/remarriage
When a client is considering marriage or remarriage one important issue regards Social Security. One of the parties will possibly have a higher Social Security earning record than the other, and...
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Gifts and tax implications, a recap
Under the law that was passed in late 2010, the available exemptions and allowances for making gifts is larger than ever before. However, before making a gift, you should consult with or talk to the...
View ArticlePet Trusts Now Legal In MA
The Commonwealth of Massachusetts finally enacted legislation that enables pet trusts. Now your pet can be a beneficiary that is protected by a trustee, caretaker and trust provider. This marks a...
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Excess 529 education savings plan funds – what to do with them
A 529 Plan is an education savings plan designed to allow families to set aside funds for future college costs, while allowing these funds to grow tax-deferred and distributions to pay for the...
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Update on life estates – good or bad?
It has always been one of my favorite recommendations for clients to consider transferring their deed to their children while reserving a life estate in the property. It is a relatively simple...
View ArticleWhat to do when your spouse is admitted to a nursing home
Many people panic when their spouse is admitted to a nursing home, at the cost of between $8,000 and $10,000 per month. This video will explain what assets the community spouse gets to keep, how...
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Mid-year estate planning review
For all you who haven’t kept your New Year’s resolutions to stay fit and attend to your legal and financial affairs regarding your estate plan, there is no time like the present to complete the...
View ArticleHow to pay for long term care
With long term care costs estimated at about $10,000 per month now, many people wonder how they will afford a nursing home stay. This video reviews your options. Todd C. Ratner, 413.781.0560,...
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