Author Archives: Jay Butchko
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 »
Should I Create A Living Will?
As we age, estate planning becomes ever more important. A well-constructed estate plan can protect you, your family, and your finances—no matter what tomorrow brings. A Living Will is often a key estate planning document. You may be wondering: Do I need a Living Will? Here, our Boston estate planning attorneys answer the question… Read More »
Estate Planning In Massachusetts: What Is A Testamentary Trust?
A well-structured estate plan should be comprehensive. It should prepare you and your family for the future—no matter what might happen. Most people in Massachusetts can benefit from setting up a trust. There are several different types of trusts. A testamentary trust is a trust that you can create with your Will. In this… Read More »
Can An Unmarried Partner Claim Assets Through Intestate Succession Massachusetts?
When a person dies in the Commonwealth, their estate will need to be settled so that their property and assets can go to the appropriate heirs. This generally happens through a process called probate. Probate is simply the court supervised process for the transferring property ownership after someone has died. During probate, a person’s… Read More »
Can You Use Power Of Attorney (POA) To Revise Or Revoke A Will In Massachusetts?
Every adult in Massachusetts should have a comprehensive, well-rounded estate plan in place. A Will is a foundational document in any estate plan. Other documents—including a Durable Power of Attorney ( a “DPOA” or “POA”)—are also key parts of an estate plan. You may be wondering whether the person named in the DPOA, which… Read More »
Estate Planning: Does A Trust Fully Protect Assets From Creditors?
Asset protection is a core part of estate planning. When used properly, a trust can be one of the most effective and efficient asset protection tools. You may be wondering: Will a trust fully protect assets from creditors? The answer is “it depends on what type of trust you have—only some types of trusts… Read More »