Category Archives: Estate Planning Attorney
Do You Need Witnesses For A Will In Massachusetts?
To write a valid will in Massachusetts, there are specific requirements that you must satisfy. Under Commonwealth law (Mass. General Laws c.190B § 2-502), a will should be “signed by at least 2 individuals, each of whom witnessed either the signing of the will.” Here, our Boston estate planning attorney explains what you should… Read More »
Estate Planning: What Is Ademption?
What happens if you left property in a will that the testator—the person who wrote the will—no longer actually owns? In Massachusetts, this issue is referred to as ademption. It happens more frequently that many people realize. Here, our Norwood estate planning attorney explains the key points to know about ademption in Massachusetts. Ademption:… Read More »
How The 5 x 5 Rule Helps To Preserve The Value Of A Trust
Trusts can be extremely effective estate planning tools. It is not uncommon for people to put restrictions on trusts that are designed to protect the value. The 5 x 5 rule is a provision in trust law that allows a beneficiary to withdraw the greater of $5,000 or 5 percent of the trust’s assets… Read More »
Does The Massachusetts Estate Tax Count Out-Of-State Real Estate?
Massachusetts has its own estate tax. It covers many estates in the Commonwealth that do not have any federal estate tax liability. In 2023, lawmakers increased the Massachusetts estate tax exemption from $1 million to $2 million. As part of that reform, the law changed. Out of state real estate—which was previously exempt from… Read More »
Bill To Repeal Federal Estate Tax Introduced, But Still Faces Hurdles
According to a report from Financial Regulation News, a bill has been introduced in the United States Senate to repeal the federal estate tax. The legislation was introduced by South Dakota Senator John Thune and it has 45 co-sponsors. Here, our Norwood estate planning attorney provides an overview of the existing federal estate tax,… Read More »
What Does It Mean To Fund A Trust?
A trust is a legal arrangement where assets are managed for beneficiaries. They can be highly effective estate planning tools. Massachusetts has a wide body of law governing the use of trusts (MGL c. 203). Notably, all types of trusts generally need to be “funded” in order to become effective. This raises an important… Read More »
Can You File Your Will With The Court Ahead Of Time In Massachusetts?
A will is one of the most important legal documents that you have. When you pass away, your last will and testament helps to provide the roadmap for how your property and assets should be handled. Your survivors—particularly the executor of your will (now called a Personal Representative under Massachusetts law) —must file the… Read More »
Where Should I Keep A Copy Of My Estate Plan?
As an adult in Massachusetts, you should have a comprehensive estate plan in place. Estate planning is important. It is crucial that your family, friends, and other loved ones know how to access your estate plan when the time comes. This raises an important question: Where should I keep a copy of my estate… Read More »
How Do I Identify My Estate Planning Goals?
Are you working to develop your estate plan? Estate planning is important. It is also a fundamentally personal process. Your estate plan is your opportunity to achieve your goals. This raises an important question: How do I identify my estate planning objectives? The answer is that you should take time to evaluate your specific… Read More »
Know The Advantages Of A Revocable Living Trust
Are you considering setting up a revocable living trust as part of your estate plan? A revocable living trust is one that you can alter or even terminate at any time and for any reason—while still protecting certain selected assets from the probate process. Many people and families can benefit from these types of… Read More »