How Will My Estate Be Affected if One of My Heirs Files for Bankruptcy?
When an heir files for bankruptcy, it can affect how and when they receive their inheritance. Because bankruptcy involves liquidating or restructuring a person’s assets to pay off creditors, any inheritance they’re entitled to may become part of their bankruptcy estate. Timing, estate structure, and asset protection measures all determine what happens...
How Long Does the Probate Process Usually Take?
The probate process in Massachusetts generally takes between nine months and a year to complete, though certain estates can take longer depending on their size and complexity. The process involves validating the will, identifying heirs, paying debts and taxes, and distributing assets according to state law. Several factors, including court schedules, disputes...
What Is a Testamentary Trust?
A testamentary trust is a type of trust created through a person’s Last Will & Testament that only takes effect after their death. It allows you to control how and when your assets are distributed to your beneficiaries, often providing structure and protection for loved ones who may not be ready to...
First Steps in Creating an Estate Plan
Starting an estate plan may seem like a daunting task, but it begins with a few straightforward steps. The goal is to organize your affairs, protect loved ones, and ensure your wishes are carried out if something happens to you.
This guide outlines the initial steps Massachusetts residents should...
What Are Special Needs Trusts Used For
Planning for the long-term care and financial security of a loved one with disabilities requires careful legal guidance. A special needs trust (SNT) is a powerful tool that allows a person with disabilities to receive financial support without jeopardizing eligibility for government benefits such as Supplemental Security Income (SSI) or Medicaid.
How Massachusetts Probate Law Impacts the Sale of a Decedent’s Real Estate
Selling real estate after the death of a loved one can be a complex process, especially in Massachusetts, where probate law plays a central role. For residents of Westport and surrounding areas, understanding how probate law affects the sale of a decedent’s property is essential for ensuring a smooth transaction and avoiding...
How Often Should I Review & Update My Estate Plan?
Estate planning is one of the most thoughtful steps you can take for your future and your loved ones. But creating a last will and testament, trust, or other planning documents isn’t a one-time event. Life has a way of changing—sometimes quickly—and if your plan doesn’t keep up, it may not reflect...
How Does Massachusetts Law Affect Your Estate Planning Strategy?
When it comes to estate planning, one size does not fit all. Every state has its own rules about probate, taxes, and family protections, and Massachusetts is no exception. If you live here, understanding how these laws shape your plan is just as important as deciding who inherits your home or how...
Retirement Planning and Its Impact on Estate Planning
When you think about planning for retirement, your first thought might be making sure you have enough income to support yourself after you stop working. But retirement planning does more than provide financial stability in your later years. It also shapes how your assets are managed, protected, and passed on to your...
What Happens After You Pass Away?
Losing a loved one is never easy. Alongside the emotional toll, families are often left with the responsibility of managing the deceased person’s affairs. Whether or not the individual had an estate plan, there are legal and practical steps that must be taken after death to ensure their wishes are honored and...