Life rarely follows the path we expect. When we create our estate plans, we naturally assume we’ll outlive our beneficiaries. The thought that our children, grandchildren, siblings, or other loved ones might precede us in death is almost unthinkable. Yet as an Andover will and trust lawyer who has guided many families through difficult transitions, …
As an Andover estate lawyer, I often find that clients are unfamiliar with the concept of “step-up in basis” until they’re facing significant tax implications during inheritance. This powerful tax provision can save your heirs thousands—or even millions—of dollars, yet it remains one of the most misunderstood aspects of estate planning. The Basics of Basis …
What Does Step-Up in Basis Mean? An Andover Estate Lawyer Explains Read More »
When planning for the future, one important decision is who will inherit your retirement accounts. While many people name individuals as direct beneficiaries, there are situations where a trust may be a better option. However, this approach requires careful planning to ensure compliance with federal and state laws while maximizing tax benefits. Why Consider a …
As an Essex County trust and estate lawyer, I’m frequently asked about the intersection of trusts and business entities, particularly LLCs. The short answer is yes, a trust can own an LLC, but the details matter significantly. This ownership structure can offer valuable benefits for asset protection, tax planning, and succession planning when implemented correctly. …
Can A Trust Own An LLC? An Essex County Trust and Estate Lawyer Explains Read More »
As an Andover trust attorney, I’ve guided countless parents through creating comprehensive estate plans. While most understand the importance of having a will, many aren’t aware that this document alone may not provide the protection their children need. Trusts offer powerful benefits that go far beyond what a basic will can accomplish, especially for families …
As a North Shore will lawyer working with single and divorced parents, I’ve witnessed the deep emotional weight that guardianship decisions carry. The thought of someone else raising your children is heart-wrenching, yet planning for this possibility is one of the most profound acts of love you can offer them. The Unique Vulnerability of Single …
Estate planning is based on state and federal laws which are subject to change at any time. For many members of the LGBTQ community, that can be not only anxiety-provoking but a genuine concern when planning for the future. The good news is that having a comprehensive estate plan gives you control over how your …
As an Essex County will lawyer, I often find clients are puzzled by the term “pour-over will.” While both traditional wills and pour-over wills serve important purposes, they function quite differently in your estate plan. Understanding these differences is crucial for ensuring your assets are protected and distributed according to your wishes. Traditional Wills: The …
Will vs. Pour-Over Will: What’s the Big Difference? An Essex County Will Lawyer Explains Read More »
One of the most common misconceptions about Powers of Attorney (POAs) is that they’re set in stone once signed. As an estate planning lawyer in Essex County, I often reassure clients that this isn’t the case. The truth is, you can change your mind about your POA as long as you have the mental capacity …
Can You Change Your Power of Attorney? An Essex County Estate Planning Lawyer Explains Read More »
As a trust lawyer in Andover, I often hear this question from homeowners who want to protect their assets but worry that their mortgage might stand in the way. The good news? Having a mortgage doesn’t prevent you from putting your home in a trust, and the process is typically straightforward. The Truth About Mortgages …
Can I Put My House in a Trust if I Have a Mortgage? An Andover Trust Lawyer Explains Read More »
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