Heading to College? Why Massachusetts Students Should Consider a Durable Power of Attorney
If you’re 18 or older and heading off to college, you should consider signing a durable power of attorney. Estate planning may not be high on your back-to-school checklist. You’re probably more concerned with registering for classes, buying textbooks, decorating your dorm room, or figuring out your new schedule.
Your Child Is 18: Why Massachusetts Parents Should Think About a Health Care Proxy
Massachusetts college students and their parents should consider setting up a Health Care Proxy to protect an adult child in a medical emergency. As your child heads off to college, you may be focused on dorm move-in, tuition, textbooks, and making sure they have everything they need. But if your son or...
How to Fund a Revocable Living Trust Properly
Creating a revocable living trust is only the first step. To work as intended, the trust must actually own the assets you want it to control. Funding a trust means transferring ownership of eligible assets into the trust's name. If that step is overlooked, those assets may still need to go through...
What Is the Medicaid Look-Back Period and How Does It Work in Massachusetts?
If you may need long-term care, the Medicaid look-back period can affect when MassHealth will pay for nursing home care. In Massachusetts, MassHealth generally reviews financial transactions made during the five years before you apply. If you gave away assets or transferred them for less than fair market value during that period,...
What Can (And Can’t) an Agent Under a POA Actually Do?
A power of attorney allows you to appoint someone to handle financial or legal matters on your behalf. An agent may be able to pay bills, manage accounts, handle property, file taxes, and take other actions authorized by the document. However, a power of attorney does not give unlimited control. The agent...
Signs That an Elder Might Need Legal Intervention
When an older adult begins to struggle with decision-making, finances, or personal safety, legal intervention may be necessary to protect their well-being and assets. These situations often develop gradually, and the signs can be subtle at first. Recognizing patterns early can help you step in before the situation becomes more serious.
Can I Control and Amend an Irrevocable Trust or Revocable Trust?
You can generally control and amend a revocable trust during your lifetime, while an irrevocable trust becomes far more restricted once it is established. The key difference is flexibility. A revocable trust is built to adapt as your circumstances change, while an irrevocable trust is intended to fix certain terms in place,...
What to Do If You Are Named as an Executor
If you are named as an executor, you are responsible for administering the estate in accordance with the will and Massachusetts law. This role involves managing legal, financial, and administrative responsibilities throughout the probate process. Being selected reflects a high level of trust, but it also comes with important obligations. Knowing what...
Understanding the Basics of Estate Planning: What You Need to Know
Estate planning is the process of organizing your legal and financial affairs so your property, healthcare decisions, and personal wishes are handled according to your instructions if you become incapacitated or after you pass away. A well-structured estate plan can help your family avoid confusion, reduce delays in probate, and ensure that...
What Happens During the Probate Process?
Probate is the legal process used to settle a person’s estate after they pass away. In Massachusetts, it involves validating the last will and testament if one exists, appointing someone to manage the estate, identifying and valuing assets, paying debts and taxes, and distributing property to heirs or beneficiaries. The process takes...