Irrevocable trusts may not be revised after the trust agreement has been completed. Revocable trusts essentially become irrevocable after the trust-maker passes away. Irrevocable trusts may be comprised of multiple documents each with a specific purpose. The following is information on the … [Read more...]
Why Avoid Probate in Massachusetts
Estate planning often includes the goal of avoiding probate. Why is it so important to avoid probate in Massachusetts? Here are 3 key reasons. 1. It's Time Consuming Probate can take up to a year to complete in Massachusetts. During that time, your dependents would not have access to your assets. … [Read more...]
Reasons to Update Your Massachusetts Estate Plan
An estate plan is not something that you create once and forget about. It should be updated regularly to reflect changes in your life or changes in your preferences. Here are a few reasons to update your Massachusetts estate plan. Birth of Children If you have children for the first time or have … [Read more...]
Gifting as Part of an Estate Plan
Estate planning involves more than just distributing assets after death. If you are looking to reduce your estate value below the taxable limit, you may consider gifting as an option. Here's a look at estate taxes and how you can use gifting as part of an estate plan. Estate Tax Thresholds The … [Read more...]
Components of Massachusetts Estate Plans
Estate planning is something that everyone should think about. Some perceive it as something needed only by the rich, but it's equally important for those who are not rich. Estate plans can help eliminate financial burdens on your family and instead provide valuable financial support for them after … [Read more...]
