The Right Estate Planning Can Protect Your Assets

Estate planning is more than just designating who gets what. It’s about safeguarding and protecting your assets from unfortunate events that may occur in the future. If you don’t use asset protection strategies, your estate can be at risk for a variety of reasons, such as a claim from an accident victim or a creditor,…

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5 Legal Steps to Take When Facing Dementia

Over 5.5 million Americans were living with Alzheimer’s disease in 2017. This included an estimated 5.3 million people age 65 and older and approximately 200,000 individuals under age 65. And Alzheimer’s disease is just one form of dementia. It’s important to create a plan when you’re in the early stage of dementia. It will help…

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Revocable vs. Irrevocable Trusts

Both revocable and irrevocable trusts protect the assets that you’ve placed in the trust from going through probate. So, both types of trusts will avoid costly court and attorney’s fees, plus the long period of time that assets are tied up in court and inaccessible to those you’ve left them to. However, it’s important to…

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What Assets and Income Count Toward MassHealth Eligibility?

To qualify for MassHealth benefits, seniors (age 65 or older) must meet strict financial eligibility requirements, including both a limit on countable assets as well as income. If you’re married and live with your spouse, both of your incomes and assets count in deciding if  you can get MassHealth. Countable income includes: Wages, salary, tips, commissions (before deductions) Self-employment…

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