Author Archives: Jay Butchko
The Estate Planning Guide For Millennials In Massachusetts
Millennials are currently the largest generation in the United States. The Pew Research Center estimates that there are 75 million Americans who were born between the years 1981 and 1996. Notably, an alarming number of millennials lack a comprehensive estate plan. Some surveys show that significantly fewer than half of millennials have estate planning… Read More »
Estate Planning In Massachusetts: What Is Portability?
Tax planning is an important part of estate planning—especially for high net worth individuals. As explained by the Internal Revenue Service (IRS), the federal estate tax is “a tax on your right to transfer property at your death.” That being said, most people do not have a federal estate tax liability because the tax… Read More »
How Long Does Probate Typically Take In Massachusetts?
Estate administration is a process through which a deceased person’s legal/financial affairs are wrapped up and their estate is settled, so that property and assets can be distributed to the proper parties. You may be wondering: How long does estate administration take in Massachusetts? The answer depends on several case specific factors. In this… Read More »
Can You Terminate A Power Of Attorney In Massachusetts?
A power of attorney (POA or DPOA) allows someone to act on your behalf in financial and legal matters. It is an important estate planning tool. You may be wondering: Can a power of attorney be terminated once it is in place? The short answer is “yes”—there are a number of different circumstances in… Read More »
Should I Consider A Trust For My Estate Plan?
Are you developing or thinking of creating your estate plan? If so, you may be considering setting up a trust as part of your plan. Trusts are a great choice for many people. While there is a common misconception that trusts are only for the very wealthy, trusts offer a number of different benefits… Read More »
What Is A Generation Skipping Trust (GST)?
Many people want to provide support for family members as part of their estate plan. Grandchildren are among the most common people named as heirs in Last Wills and Testaments and selected as beneficiaries in trusts. In some cases, a specialized type of irrevocable trust called a Generation Skipping Trust (GST) may be the… Read More »
Estate Planning And Beneficiary Designations: Five Tips That You Can Use
Properly designating your beneficiaries is an often underappreciated aspect of estate planning. As defined by Investopedia a beneficiary designation allows a person to inherit certain types of assets directly, outside of the traditional probate process. In this article, our Boston-based estate planning attorneys highlight five tips that you can use to plan for beneficiary… Read More »
Why A Business Succession Plan Is An Important Part Of A Comprehensive Estate Plan For Business Owners In Massachusetts
Estate planning can be complicated—especially so if you own and operate a business. A business owner’s estate plan needs to take the future of their company into account. A business succession plan is crucial. Here, our Greater Boston business succession planning attorneys explains why succession planning is such an important part of the estate… Read More »
What Makes A Will Legally Valid In Massachusetts?
Do you have a will? You should. Every adult in Massachusetts can benefit from not only drafting a will, but from setting up a comprehensive (personalized) estate plan. This raises an important question: What do you need to do to make a will legally valid? Here, our Boston estate planning attorney provides an overview… Read More »
Four Mistakes To Avoid When Dealing With Creditors In Probate In Massachusetts
Debt is a huge concern for many people and families. According to the most recent data from the Federal Reserve Bank of New York, Americans have a collective $17 trillion of consumer debt. Dealing with debt (creditor claims) is often a key part of the probate process. Too many people make avoidable errors when… Read More »