Planning is important. If you don’t plan, your assets go pursuant to the state’s default plan, which may be very different from what you want. If you plan, you can be sure your assets go exactly to whom you want and in a manner that can benefit them the most. Make Your Own Plan … [Read more...] about Make Your Own Plan
Planning is important when providing for any of your children. But planning is even more important for special needs children. Without proper planning, an inheritance can jeopardize a special needs child’s needs-based benefits, such as SSI or Medicaid. Read on to learn more about planning for special needs children. Planning for Special Needs Children … [Read more...] about Planning for Special Needs Children
The moment you found out you were going to be a parent, you probably started worrying about, and planning for, your child’s future. Estate planning also took on a heightened importance because you wanted to be certain your child was protected if something happened to you. One tool in the estate planning toolbox for parents is a Uniform Transfers to Minors Act (UTMA) account. For those who are unfamiliar with this tool, a Nashua estate planning attorney at DeBruyckere Law Offices explains what a … [Read more...] about What Is a UTMA Account?
For obvious reasons, most people don’t want to spend much time contemplating their own funeral and burial. Consequently, people often fail to incorporate funeral planning into their estate plan. That failure to plan, however, can leave loved ones faced with a financial nightmare. As a Beverly area estate planning attorney at DeBruyckere Law Offices explains, planning ahead matters because the reality is that death is expensive. Who Pays the Price If You Fail to Plan Ahead? You undoubtedly … [Read more...] about Why Planning Ahead Matters – Death Is Expensive
For many people, protecting and providing for loved ones after they are gone is one of their most important estate planning goals. If you are among those people, the idea that the assets you pass down to those loved ones might be squandered will undoubtedly not sit well with you. If you are concerned about a specific beneficiary, or you just want an extra layer of protection from the possibility that an inheritance won’t be managed well, you might want to consider adding a spendthrift provision … [Read more...] about What Is a Spendthrift Provision in a Trust?
Planning is important when providing for your children or grandchildren. But planning for their education has special importance and may have special advantages. This article looks at how a trust can be used to provide for your child or grandchild’s education. The article looks at how a trust can protect those funds. Planning for Education Expenses … [Read more...] about Planning for Education Expenses
It’s important to have a plan. If you don’t have a plan, your state law dictates who gets your property and makes decisions for you. Read on to learn more about the prevalence of unexpected deaths and an example of what can happen without planning. Planning for the Unexpected … [Read more...] about Planning for the Unexpected
Planning is important when providing for your children or grandchildren. But planning for their education has special importance and may have special advantages. This article looks at how 529 plans may have tax advantages when providing for education. Further, the article looks at how such a plan may provide asset protection in bankruptcy, as well. 529 Plans: Planning for Education with a Tax and Asset Protection Bonus … [Read more...] about 529 Plans: Planning for Education with a Tax and Asset Protection Bonus
Clarity is essential in an estate plan. This article examines the case of Tom Petty, what he did right and what he did wrong. It shows that clarity can avoid problems later. Clarity is Key to Planning … [Read more...] about Clarity is Key to Planning
A trust is one of the most common additions to a comprehensive estate plan. While there are a wide variety of specialty trusts that can help you accomplish a wide variety of estate planning goals, one thing that all trusts have in common is the need to appoint a Trustee to administer the trust. A common mistake people make when creating a trust is to not name a successor Trustee. The Beverly area trust attorneys at DeBruyckere Law Offices explain why it is so important to name a successor … [Read more...] about Why Is It Important to Name a Successor Trustee?