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Estate Planning for Single People

If you’re single, you might think that estate planning is only for married couples or people with children. But the truth is that estate planning is just as important for you as a single person. You might think that if you don’t do a will that your family or friends can just divide up your…

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How to Make Your Executor’s Life Easier

An executor (known as a “personal representative” in Massachusetts) is named in the Last Will and Testament, and that person is responsible for managing the estate after the testator (person who writes and signs the will) passes away. The personal representative can be a very time-consuming position which includes gathering and securing the deceased’s assets…

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Clarity is the Key to a Good Estate Plan

Simply having an estate plan doesn’t mean that there won’t be any family disputes over your estate. If a trust or will isn’t written with specific terminology and clarity, you could still be leaving your loved ones in a situation where there will be disagreements over what your true intention was for distribution or control…

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Estate Planning for Surviving Spouses

When a spouse passes away, a lot of attention goes to administering their estate. But if you’re a surviving spouse, it’s also important for you to focus on your own estate planning documents as soon as you can. You need to make sure you’re protected during your lifetime and that your wishes will be carried…

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What is an AB Trust?

A trust is a legal document that can take legal title to your assets, like investments, bank accounts, real estate, vehicles, and valuable personal property. An AB trust, also called a credit shelter trust, is designed to minimize estate taxes for married couples by splitting into two trusts upon the first spouse’s death. The Massachusetts…

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5 Important Steps to Estate Planning

No matter what stage of life you’re in—young or old, married or single—having an estate plan is the best way to protect yourself, your family, and your assets. Some people don’t think they have enough assets to need an estate plan right now, but that’s a misconception. Even if you have moderate wealth, you want…

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Estate Planning for Snowbirds

As some Massachusetts residents get older, they choose to avoid the cold New England weather and reside in a warmer climate during part of the year. What does that mean for your estate planning? First you need to determine what your actual state of legal residency will be. Some factors used to determine residency include…

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What is the Difference Between a Trust vs. a Will?

Wills and trusts are both useful estate planning tools that serve different purposes, and they can work together to create a comprehensive estate plan. The main differences between a trust and a will relate to these issues: (1) whether probate is involved, (2) what assets and legal affairs are affected, and (3) when does the…

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