Author Archives: Jay Butchko
The Three Big Special Needs Planning Mistakes To Avoid
According to the Pew Research Center, more than 40 million Americans live with some form of a disability. These disabilities can range dramatically in their scope and their effect on a person’s life. If you have a child or another loved one with special needs, it is essential that you consider their unique situation… Read More »
Estate Planning In Massachusetts: Three Key Things To Know About Medicare
Most people have a general awareness that Medicare is the primary federal health insurance for people who are 65 years of age or older. As medical needs tend to increase as we age, understanding Medicare is key to estate planning/elder care planning. There are a lot of misconceptions about how Medicare actually works. Here,… Read More »
Want To Change Your Will In Massachusetts? Avoid These Three Common Mistakes
Every adult in Massachusetts can benefit from a comprehensive, well-drafted will. You are never too young to write a will. It can be easily revised to account for life’s ever-changing circumstances. That being said, there are some all-too-common errors that people make when revising a will in the Commonwealth. Here, our Norwood estate planning… Read More »
What is Massachusetts Medicaid Estate Recovery? (And How You Can Protect Your Assets)
Long-term care costs are extraordinarily high. For the most part, they are not covered by Medicare. Instead, Medicaid—a means-tested program—is the primary form of public support for nursing home care and other types of long-term care. In Massachusetts, the Medicaid program is called MassHealth. The Commonwealth may actually try to “recover” funds paid for… Read More »
Do You Still Need An Estate Plan If You Are Married?
According to data from Statistics Atlas, approximately half of adults in Massachusetts are currently married. You may be wondering: Do I still need an estate plan if I am married? While it is an understandable question—you may want to simply grant all rights to your spouse—the answer is a clear and resounding “yes.” All… Read More »
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 »