This is the first installment in a series that will be printed in this newsletter every third edition to describe the options and details for establishing an estate plan by the owner of these accounts. IRAs and employer sponsored retirement accounts (i.e., 401K, 403b, etc.) often hold a substantial portion
Massachusetts probate courts are seeing a steady increase of individuals petitioning for and being appointed as a guardian, conservator, or both, for elderly, disabled and minor individuals. Petitioning the court is the simple part; unfortunately, the requirements accompanying the appointment are not. As a result, many people are finding themselves in
What happens when you own a piece of real estate with someone else or a group of other people, but there is a disagreement on what to do with the property? Someone may want to sell, someone may want to rent, and someone else may want to use the property
There are a number of rules that apply to receiving Social Security benefits and receiving work income for the same time period. To understand these, first differentiate between receiving benefits under the Social Security insurance programs, as compared to receiving benefits under the needs-based program called Supplemental Security Income (SSI). Insurance
In June of this year, the Supreme Court overruled key provisions of the Defense of Marriage Act (“DOMA”), thereby eliminating the definition of marriage as one between a man and woman. Not only did this represent a tremendous victory for same-sex spouses and modern families across the country, but it
The divorce rate in the United States is currently about 50% of all marriages. Most parents do not want to see their estate assets go to a child’s divorced in-law in a marital property division even though they usually want their child, and their grandchildren, to benefit from their estate.
You and your spouse may be relying on your portion of your Social Security Retirement Benefits to pay most of your household expenses, especially if you receive the higher payment. What happens to your spouse’s income if you pass away? Most people are aware that Social Security may pay survivor’s
Do I need a Guardianship for Adult Disabled Child? Parents frequently tell us that they have been told by someone such as a medical provider or institution administrator that their disabled child must have a formal guardianship granted by the Probate Court when the child reaches adulthood, which in Massachusetts
With the addition of prescription drug coverage under Medicare Part D in 2006, Medicare beneficiaries need to select an insurance company or other private company approved by Medicare to provide pharmaceuticals. How the provider is chosen will depend upon whether the beneficiary has original Medicare Part A and Part B
Family members and friends are often asked to serve as the administrator or “fiduciary” of a Will, Trust, or estate of an incompetent person. These include the titles of Executor or Personal Representative named in a Will, Trustee of a trust, or Conservator of an incompetent person. Each appointment brings
