Blog

02
Jul

Does A No Contest Clause Really Work?

Posted by | · · · · · · · | Estate Planning

You’ve probably heard horror stories of disgruntled heirs contesting a parent’s Will to try and get their “fair share” of an inheritance. While uncommon, it is particularly concerning when dealing with favoritism, children who have substance abuse or gambling issues, blended families, or illegitimate children. Fortunately, under Massachusetts law there are a few steps you […]

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26
Jun

Should You Use A Tangible Property Memorandum?

Posted by | · · · · · · · · | Estate Planning

Do you have a bunch of “stuff” that you’d like to leave to certain individuals, but don’t want to deal with the inconvenience of listing everything in your Will or updating your Will as circumstances change? If yes, then a tangible property memorandum may make sense to incorporate or reference through your Will.   Under […]

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19
Jun

Safekeeping Your Estate Planning Documents

Posted by | · · · · · · · | Estate Planning

Completing your estate plan is a great accomplishment, but the fun’s not over yet – now you have to decide where to keep the papers for the rest of your life. Generally, you have three options for safekeeping your estate planning documents: Lawyer’s Office Traditionally, lawyers would keep and store their clients documents since they […]

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11
Jun

3 Estate Planning Mistakes You Don’t Want To Make

Posted by | · · · · · · · · · · · | Estate Planning

 1. Failing to name contingent beneficiaries   Life’s uncertain. We’d like to believe everything will go as planned, but it’s possible that your primary beneficiaries may predecease you. If that happens, you should always have alternate or back-up beneficiaries in place.   Also, it’s best to make a habit of reviewing the beneficiaries on your […]

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01
May

Testamentary v. Living Trust

Posted by | · · · · · · · · · · | Estate Planning

A trust can be established either during a person’s life (a “Living Trust”) or at his or her death by being included in a person’s Will (a “Testamentary Trust”). Both types of trusts have the benefit of allowing the creator of the Trust (sometimes called the donor, grantor, or settlor) to put in place a […]

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24
Apr

How to Start the Estate Planning Conversation with Your Family

Posted by | · · · · · · · · · · · | Estate Planning

Death and money are likely among the top two things you don’t want to talk about around the dinner table. Yet you probably know very well that an estate planning conversation is something you should discuss with your family sooner rather than later. Otherwise, your survivors may misinterpret or fail to follow your intentions, which […]

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20
Apr

What’s Probate and How Can You Minimize the Cost?

Posted by | · · · · · · · · · · · · · · · | Estate Planning

Probate is the legal process that occurs after your death in order to settle your estate. The process can vary depending on your situation. For example, in Massachusetts there are four types of probate: (1) Voluntary Administration, (2) Informal Proceedings, (3) Formal Proceedings,  and (4) Supervised Administration.   While the exact steps vary depending on […]

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10
Apr

Understanding the Anti-Lapse Statute

Posted by | · · · · · | Estate Planning

The Anti-Lapse statute is a law that aims to correct the lack of contingency planning in a Will. Prior to the enactment of this statute, a gift to someone in your Will would fail completely if that person predeceased you unless you specifically provided otherwise. Therefore, the Anti-Lapse statute creates an automatic exception to the […]

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