Recent Blog Posts
What Is An ABLE Account And How Does It Work For Massachusetts Families?
An ABLE account is a tax advantaged savings account that lets a person with a disability save and invest money without losing eligibility for needs based government benefits like Supplemental Security Income or MassHealth. If you have a family member with a disability, you have probably run into the frustrating catch that comes with… Read More »
How A Qualified Personal Residence Trust (QPRT) Can Reduce Your Massachusetts Estate Tax
If your home alone could push your estate past Massachusetts’s tax threshold, a Qualified Personal Residence Trust, commonly called a QPRT, may be worth understanding. A QPRT lets you transfer your home into an irrevocable trust while retaining the right to live there for a set number of years, ultimately removing the home’s value,… Read More »
What Is A Charitable Remainder Trust And How Does It Work In Massachusetts?
Do you want to support a cause you care about while still holding onto an income stream for yourself or a loved one? A charitable remainder trust might be exactly the tool for that. Unlike a charitable lead trust, where the charity receives payments first, a charitable remainder trust flips the order, paying you… Read More »
What Is Informal Probate Vs. Formal Probate In Massachusetts?
Somebody has passed away, and now you are staring down the word “probate” wondering what it actually involves. Does every estate have to go through a lengthy court battle before anyone can access a bank account or transfer a house? Not necessarily. Massachusetts actually offers two different paths through probate, and knowing which one… Read More »
The Difference Between A Will And A Trust In Massachusetts: Which Do You Need?
Almost everyone knows they should have some kind of estate plan, but the moment the conversation turns to wills versus trusts, things start to feel murky. Do you need one, the other, or both? The honest answer is that it depends on your goals, your assets, and how much you want your family to… Read More »
Can A Minor Be A Beneficiary Under A Massachusetts Will?
Naming a grandchild, niece, or nephew in your will feels like a natural, generous choice. But have you thought through what actually happens if that child is still under 18 when you pass away? A minor can absolutely be named as a beneficiary in Massachusetts, but the way that inheritance actually reaches them looks… Read More »
Holographic Wills In Massachusetts: Are Handwritten Wills Valid?
Maybe you have seen it in a movie. Someone scribbles their final wishes on a piece of notebook paper, signs it, and that becomes their will. It makes for a dramatic scene, but does it actually hold up in Massachusetts? The answer depends entirely on one detail most people overlook: witnesses. What a Holographic… Read More »
How Does Trust Administration Work In Massachusetts?
A trust is a common estate planning tool that can offer a number of different advantages. A trustee is appointed to manage the trust on behalf of beneficiaries. Trust administration can be complicated. There are specific rules and regulations for it in Massachusetts. Within this article, our Norwood trust administration lawyer highlights key things… Read More »
Joint Tenancy Vs. Tenancy In Common In Massachusetts: What Is The Difference?
If you own property with another person, whether a spouse, sibling, business partner, or friend, the way that ownership is titled matters more than most people realize. Two of the most common forms of co-ownership in Massachusetts are joint tenancy and tenancy in common, and the difference between them can shape what happens to… Read More »
What Is A Testamentary Trust And When Should Massachusetts Residents Use One?
Most people have heard of a will. Many have heard of a trust. But a testamentary trust occupies a specific and useful space between the two that does not always get the attention it deserves. If you are working on an estate plan in Massachusetts and trying to figure out which tools make sense… Read More »