As we have acknowledged in previous articles, it can be difficult to consider the notion of our own mortality. Yet equally challenging is the idea of the loss of a spouse or partner. While procrastination and ignoring these life-changing scenarios is common, early planning can mitigate the risk of financial and emotional chaos that can […] The post Estate Planning Preparations for Losing a Spouse appeared first on The Heritage Law Blog .
A recent article in the New York Times highlighted the psychological barriers to creating an Estate Plan. “No one likes to think about dying – and that is probably one reason most Americans lack wills.” https://www.nytimes.com/2017/02/08/business/how-to-make-a-will.html?smid=fb-share&_r=0 The likelihood of having a Will, or other Estate Planning documents increases with age. Only 20% of millennials (ages […] The post Is Your Brain Preventing You From Creating a Will? appeared first on The Heritage Law Blog .
Consider yourself lucky if your family owns a vacation home –a lakeside cabin, a beachfront condo–a place where parents, children and grandchildren can gather for vacations, holidays and enjoy each others company and relax together. Your vacation home is likely a place full of special memories where you or your children grew up enjoying summers […] The post Massachusetts Estate Planning for a Family Vacation Home appeared first on The Heritage Law Blog .
Estate planning attorneys often receive calls from potential clients requesting how much a simple Will costs. What they do not know is that a simple Will – also known as a “Last Will and Testament” – in many cases, does not provide the type of protection they need. A simple Will often cannot accomplish the […] The post Will a simple Will do what you need it to do? appeared first on The Heritage Law Blog .
Just as soon as the sugar high of Halloween comes to an end, daylight savings time is also a wrap. In an instant, the holiday music playing everywhere we turn is encouraging us to start gearing up for holiday celebrations and family visits. For many adult children who live near their parents, regular check-ins are […] The post Important Holiday Conversations with Family appeared first on The Heritage Law Blog .
Financial planning and Estate planning both have extremely important, and sometimes interconnected, functions. Both are also highly specialized in nature, requiring you to find the right partner to work with in each area. Both the attorney and financial planner need to understand the basics of the other professional’s area of practice and be willing to […] The post Financial Planning vs. Estate Planning appeared first on The Heritage Law Blog .
Whether you see your parents on a daily or weekly basis or have to travel to visit them at the holidays, there comes a time when we realize that they are aging and may be facing some health or cognitive issues. Perhaps suddenly, they seem to need more assistance with daily tasks. Whether there is […] The post Tough Conversations with Aging Parents appeared first on The Heritage Law Blog .
Many people think of Estate Planning as a luxury for wealthy Business Owners, executives and CEOs – multi-millionaires who have a variety of homes and bank accounts overflowing with money. However, this notion could not be further from the truth. Estate planning is a tool to be utilized by everyone, regardless of the size of their […] The post Asset Protection for Small Business Owners appeared first on The Heritage Law Blog .
Families come in all shapes and sizes and today a large percentage of families are considered blended families. In fact, 40% of families in the US have at least one partner with a child from a previous relationship, 100 million Americans have a step relationship and approximately one-third of all weddings in America today form […] The post Estate Planning for Blended Families appeared first on The Heritage Law Blog .
Revocable Trusts and Irrevocable Trusts are both very valuable tools in Estate Planning, yet their differences are important to understand to ensure you make the right choice at the right time. If you have done some research on Estate Planning, you have likely heard the terms “revocable” and “irrevocable”. The term “irrevocable” might be alarming […] The post Revocable vs Irrevocable Trusts: Important differences appeared first on The Heritage Law Blog .