When a loved one passes away and has left a will, their estate must go through a court-managed proceeding called probate where the will is verified, a personal representative is appointed, and the assets are recorded and then distributed according to the will. If someone legally contests the will (raises a formal objection), it’s referred…
Continue reading…What Are Probate vs. Non-Probate Assets?
Many people try to avoid probate because it can be time consuming, costly, and a general pain in the neck. However, in order to do so it’s important to understand what probate assets are. Massachusetts probate is a court-managed proceeding where a will is verified, a representative is appointed, and assets still titled in the…
Continue reading…Probate Administration (and How We Can Help)
When a loved one passes away in Massachusetts and has left a will, their estate must go through a court-managed proceeding called probate where the will is verified, a Personal Representative is appointed, and the assets are recorded and then distributed according to the will. The purpose of probate is to prevent fraud after someone’s…
Continue reading…Why You Should FINALLY Get Your Estate Planning Done
The start of each year makes us think about what’s important and what we want to accomplish. Protecting our family and maintaining financial security are top of that list for most people. Proper estate planning can help you reach both those goals. Here’s why you should get started on your estate plan: Avoid Probate to…
Continue reading…Revocable vs Irrevocable Trusts: Important Differences
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…
Continue reading…The Future of Online Probate: Will Your Plans Stay Private?
Early in September, Ancestry.com launched a vast new program in which they made 170 million pages of probate documents and wills available online. If you’re a member of the site, you can now search through these documents and uncover the personal details of all the estates within. All of this might get you thinking about…
Continue reading…Joan Rivers Has Last Laugh Through Use of a Family Trust
Famous comedienne, Joan Rivers, who died unexpectedly on September 4, 2014, from what is alleged to be a botched medical procedure, made millions making us all laugh. Some of her most infamous routines centered around skewering celebrities, most notably legendary actress Elizabeth Taylor. For Rivers’ comedy, everyone and everything was fair game for exposure. But…
Continue reading…Hollywood Legend Lauren Bacall Leaves Large Estate and Potentially Large Headaches for Heirs
Legendary Hollywood actress Lauren Bacall died on August 12, 2014, leaving behind an estate estimated at $26.6 million and three children who face a couple of potentially serious problems that could have been avoided through effective estate planning. Bacall, who was married to Humphrey Bogart and Sam Robards, passed away in her New York City…
Continue reading…Estate Planning Lessons from Paul Walker’s Tragedy
Actor Paul Walker, best known for his roles in The Fast and the Furious franchise, died on November 30, 2013 in a one car accident near his home in California. Only 40 years old at the time of his death, this tragedy offers several lessons for estate planning. Walker utilized a Revocable Living Trust in…
Continue reading…Farrah Fawcett’s Will and Managing Inheritances
Farrah Fawcett, Hollywood star and beauty icon, passed away in 2009 after a battle with cancer. It is well known that her family life had its share of struggles, with alcoholism…
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