Adding a living trust to your Massachusetts estate plan can be a good idea for several reasons, depending on your individual circumstances and goals. While I can provide some general information about why it may be beneficial, it’s important to consult with an attorney or estate planning professional to determine how a living trust fits…
Divorce and Family Law Blog
Why Using a Combination of Both A Prenuptial Agreement and Postnuptial Agreement can be Advantageous
Using a combination of a prenuptial agreement and a postnuptial agreement can be advantageous in certain situations, as it provides a comprehensive approach to protecting both spouses’ interests and assets before and during their marriage. Here are some reasons why couples might choose this approach: 1. Comprehensive asset protection: Prenuptial agreements are typically signed before…
Understanding Postnuptial Agreements
A postnuptial agreement, also known as a “postnup,” is a contract entered into after marriage that outlines the division of marital assets in the event of a divorce. Unlike prenuptial agreements, which are signed before marriage, postnuptial agreements can be executed at any time during the marriage. Postnuptial agreements offer similar protections as prenuptial agreements,…
Lessons in Business Succession Planning and Estate Planning from the TV Show Succession
The TV show Succession sheds light on the importance of estate planning, particularly when it involves a family business. This cautionary tale emphasizes the need for a solid estate plan and a succession plan for business owners who haven’t made one yet. Succession delves into the aftermath of the illness and demise of Logan Roy,…
MEDICARE TRUST OR IRREVOCABLE INCOME-ONLY TRUSTS (IIOT)
In Massachusetts, a Medicare trust is commonly referred to as a Medicaid trust or an irrevocable income-only trust (IIOT). This type of trust is designed to help individuals protect their assets while still qualifying for Medicaid benefits, which can help cover long-term care costs. By transferring assets, such as real estate, into an irrevocable trust,…
Concerned About Asking Your Spouse-to-be for a Prenup? Mediation Can Facilitate Fair and Transparent Prenuptial and Postnuptial Agreements
Mediation can be an ideal way of approaching these conversations, as it can incorporate more than just the final agreement, but also a discussion about finances, plans and possibilities which can set the groundwork for a successful and collaborative relationship. Mediation is a good way to avoid the tension and conflict which…
Postnuptial Agreements for Married Couples Who Still Want Their Marriage to Work Without The Financial Risk And Uncertainty
A postnuptial agreement, also known as a postnup or postmarital agreement, is a legally binding contract entered into by a married couple after they are already married. Similar to a prenuptial agreement (prenup), which is created before marriage, a postnuptial agreement outlines the rights and responsibilities of each spouse in the event of a divorce…
Worried About the Cost of a Divorce? Divorce Mediation is Fast, Inexpensive and Thorough.
The cost of living is high and inflation is rising, making it more important than ever to save time and money during the divorce process. One way to do this is through choosing an experienced divorce mediation attorney to help you through your divorce. In divorce mediation, a neutral third party, known as a mediator,…
Is the Seven Year Itch A Real Factor in Divorce?
The seven-year itch is a pop culture term arising from the 1955 movie starring Marilyn Monroe. It is popularly used to describe a crisis or waning interest in a monogamous relationship after 7 years. Research shows that the 7-year timespan might not just be an urban myth. According to researchers, people may build stability for…
Divorce, Interests Rates, and the Family Home
What to do about the family home is one of the biggest decisions in divorce. There are many factors to consider, but how should you approach the decision during a time of high interest rates and slowing property prices? Here are a few questions revolving around the family home that you may be considering if…
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