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The probate of your loved one's will: New administration options now available
On March 31, 2012, the Uniform Probate Code, an extensive and important piece of legislation became effective in the Commonwealth of Massachusetts. This greatly transformed the administration of wills...
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Wills and omitted children – beware unwanted consequences
Although a spouse may not disinherit a surviving spouse, the law provides no obligation that you must to leave property to your children. But the law does require that you mention your child within...
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Beware contesting wills and trusts with a no contest clause!
Every once in awhile, there is a case that is worthy of writing about to help our clients understand their rights and obligations.In some legal documents, lawyers include language known as a no contest...
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2013 numbers that might matter to you
Every year, many important numbers are adjusted for cost of living increases or other adjustments. 2013 is no exception, and the following is a list of some of the important numbers to be considered:...
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Estate Planning for Blended Families: Considerations for cohabitating or...
The modern family of today is often a mix of spouses, exes, kids, and steps who somehow find a way to make it all work. Estate planning for such an intricate blended family may be a little tricky, and...
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Should I hire a professional tax preparer?
As the clock keeps ticking and the April 15 filing deadlinefor filing the 2012 income tax returns, (or the April 16 filing deadline for your Massachusetts return,) keeps getting closer, one decision...
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Why your college-age child needs his or her estate planning documents in place
If you have children who are over the age of 18, you should know that they need to have documents that are similar to your own. If your child gets ill while at school, without the proper documentation,...
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The necessity of careful estate planning in bankruptcy
The Bankruptcy Appellate Panel recently upheld a decision by U.S. bankruptcy judge, Boroff regarding the intersection of a common estate planning tool and bankruptcy, (see BAP NO. MW 12-060.)...
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Disinheritance – your will is what is remembered!
A prior blog post about disinheriting a child received the most comments of all posts written since this blog’s inception, in June of 2005!Many people described the pain and emotion of being...
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Massachusetts medical orders for life-sustaining treatment
Medical Orders for Life-Sustaining Treatment (MOLST) is a standardized, voluntary form that allows a seriously ill patient to provide preferences for certain medically appropriate life-sustaining...
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Charitable donations and tax deductions: a cautionary tale
In a tax court matter decided earlier this year, (2013,) a man wanted to assist low income individuals and their families with obtaining affordable housing. To that ends, he donated approximately 70%...
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The danger in adding your child to your bank account
How do you know what really is the right thing to do in order to protect your assets or attempt to avoid probate?One of the relatively simple, often used, and inexpensive techniques is to merely add...
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What personal and financial documents must you keep, and for how long?
Some people like to keep things like old bank statements, electric bills, etc., and some are people throw them away as fast as they receive them. I recently started to clean my basement and found...
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Special needs trust expenditures – general guidelines
While most requests to a trustee of a special needs trust are probably going to be appropriate, such as payment of unreimbursed medical expenses, clothing, furnishings, etc., there are several areas...
View ArticleDOMA struck down by the Supreme Court – monumental effect on gay marriages
In a 5-4 ruling dated June 26, 2013, the United States Supreme Court justices strike down the Defense of Marriage Act, saying it is unconstitutional.The Supreme Court case U.S. v. Windsor, ruling said...
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Ohio judge rules that a will written and signed on a tablet computer is valid
This June, an Ohio probate judge ruled that a will written and signed on a tablet computer is legal. The judge concluded that the will, despite being written on a computer tablet, met the legal...
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Incentive trusts – tips for handling the transfer of funds from one...
Sometimes people want to leave funds to their children, but they are concerned that their kids may not be responsible enough to manage them. Other parents or grandparents wish to ensure that inherited...
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A few questions and answers regarding charitable deductions
Is a contribution to the U.S. government tax deductible? In a recent opinion, the IRS determined that a person who wished to make a gift to the Treasury Department of the United States government, in...
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Necessary additional estate and tax planning relative to same sex marriages...
The Supreme Court’s recent decision relative to the determination that the Defense of Marriage Act was unconstitutional leaves many to believe that planning for all individuals will now be the same....
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Return of premium life insurance policies – is one right for you?
Since the 1990’s, life insurance companies have offered special riders to term life insurance policies called Return of Premium (ROP). In the event that you choose to purchase a term life insurance...
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