Tax Strategies to Move Your Clients Forward

The 2019 estate tax exemption is $11.4 million per person, up from $11.2 million per person in 2018. According to the Tax Policy Center, only 4,000 federal estate tax returns were filed this year, with only 1,900 of those returns owing tax. Some industry experts estimate that less than one percent of all estates are taxable federally.  Put another way, over 99 percent of all…

Home DNA Tests – A Bump in Your Estate Plan

Discovering your ancestry can be both fun and fascinating. At-home DNA tests have grown in popularity in recent years. Often given as a unique gift for loved ones, the kits reveal details about our individual and collective pasts. Unfortunately, these tests aren’t all fun and games. When a test reveals an unexpected relative or biological child, your estate plan may need updating. If you do…

Can I Make Estate Plans Without My Spouse?

The average American family has changed a great deal over the last few decades. The assumption that a couple will share finances, tax obligations, and a last name is one that does not necessarily apply in the 21st century. There are more options than ever before to keep your finances, identity, and future plans separate. This sense of independence leads many married people to question:…

When is it Time to Take Away the Car Keys?

One of the hardest things a senior must come to grips with is that he or she can no longer operate an automobile safely. However, this is not usually something they’ll admit to themselves, even if they know it’s the truth. Most of the time it is up to their adult children to determine when it’s time to take away their elderly parent’s car keys…

The Role of an Agent Under a Power of Attorney: A Primer

For most people, the phrase “power of attorney” means very little. Even for those educated on the subject, it is easy to forget exactly who serves what role and why. Whether you are unfamiliar with the concept or simply need of a refresher, keep reading to learn what it means to be an agent under a power of attorney. To start, it helps to understand…

Why Should You Want to Avoid Probate?

One of the main benefits of estate and trust planning in Essex and Middlesex Counties is the avoidance of probate proceedings. But what does that mean? And why should you want to avoid probate in the first place? The main reason to avoid probate is simply that it can be a long, public, and costly process that could have you or your loved ones tied…

The Personal Guarantee: 5 Ways Small Business Owners Can Reduce Their Liability

Small businesses make a huge contribution to the U.S. economy. Nevertheless, starting a new business is risky. Lenders view loans to small businesses, particularly start-ups, as among the riskiest they make, particularly when there is little or no credit history or business revenue on which to base their decision. In an effort to lessen their risk, lenders frequently require small business owners to sign personal…

Your Vacation Checklist

You’ve packed sunblock and a beach novel. You’ve planned your itinerary and bought plane tickets. But have you ensured that your estate plan is up to date?  Don’t leave home without making sure your financial health and the future of your loved ones is provided for. It’s even more crucial than getting a pet sitter and locking the front door.  Creating an Estate PlanIf you…

Beverly, MA Estate Planning Attorney: How to Use a 529 Plan to Save for Education Expenses While Benefiting Your Estate

If you’ve heard of a 529 Plan, you probably think of it as a means of education funding for your children or your grandchildren. These plans are sponsored by state agencies or educational institutions, and they’re available to people of all income brackets. While a 529 Plan is a great tool for saving for college, you can also use it as part of your estate…

How Long Does It Take to Settle an Estate in Essex County and Middlesex County, MA?

One of the most common questions asked when it comes to settling an estate in Essex County or Middlesex County, MA is, “How long is this going to take?” The answer to that question is, of course, going to vary depending upon several factors. In some situations, probate may just take a few months; in others, it could take well over a year. Due to…

Menu Title