massachusetts estate planning attorney

Massachusetts and Rhode Island Life Estates Come At A Price

As a Rhode Island and Massachusetts estate planning attorney, I frequently work with clients interested in protecting their house from nursing homes and Medicaid. Since neither a Massachusetts Homestead exemption nor a Rhode Island homestead will help in this regard, a life estate is a popular method of achieving some measure of protection.

Middle Class Also Feels Pinch of Rhode Island and Massachusetts Estate Tax

Many Massachusetts and Rhode Island residents are surprised to learn that, despite being of relatively modest means, their estate will likely be subject to a Massachusetts or Rhode Island estate tax.  The Massachusetts estate tax kicks in at $1 million, while the Rhode Island estate tax threshold is just under $900,000.  While that may sound …

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Rhode Island and Massachusetts Estate Planning Not Just for Wealthy

As a Massachusetts and Rhode Island estate planning attorney, a common misperception I encounter is that someone needs to be wealthy to need an “estate plan.”  That is a terrible misunderstanding.  The term “estate plan” refers, in part, to those documents such as wills, health care proxies, powers of attorney, and trusts which protect us, …

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Proper Massachusetts Estate Planning Should Include Power of Attorney

          As a Massachusetts estate planning attorney, I have learned that most people equate estate planning with wills only.  We tend to focus primarily on how our assets will be distributed and on financially providing for our survivors.  These are obviously essential considerations in estate planning.  Equally important, however, is how our affairs will be …

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Reducing or Avoiding Massachusetts Estate Tax Through Irrevocable Life Insurance Trust

If you are likely to fall into the Massachusetts estate tax bracket, one tax savings option to strongly consider is an irrevocable life insurance trust (“ILIT”).  An ILIT is a trust which owns your life insurance policy instead of you owning it yourself.  The beneficiaries remain the same.  When used properly, an ILIT can remove …

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