Choosing Fiduciaries: Two Schools of Thought

By its very nature, much of the administration of an estate plan takes place upon the creator’s death or incapacity. For that reason, selecting the proper persons to serve as fiduciaries is arguably the most important decision that one can make. To clarify, a fiduciary is a person with a very close legal relationship to

Will I Have To Pay An Estate Tax?

Everyone has an opinion (usually negative) about the Income Tax. It’s a topic of water cooler conversation, and we see it on our pay stubs each pay period. But this is where most people’s knowledge of the tax code ends. For those without direct experience, the Estate Tax is a mythical beast. But for the

Trusts for Children: Pooled Trust versus Separate Trusts

Trusts are an advantageous mechanism for structuring the legacy that people leave to their next of kin, but not all trusts are the same. This post discusses two different methods for providing for children in Trust: the Pooled Trust versus Separate Trusts. The Pooled Trust A Pooled Trust is a trust that “pools” assets for

The Political Side of Estate Planning

In honor of election day, I thought I’d write a quick post about the impact of politics on estate planning. One consideration in crafting estate plans for clients is how the federal and Massachusetts estate taxes will impact the legacies that they leave to their families. Currently, a federal estate tax is levied on decedents

Caregiver Contracts – New Article on

Please check out my article on Caregiver Contracts in the Local Voices section of the Danvers website. The Caregiver Contract: A Method for Keeping an Elder’s Life Savings in the Family For children who care for elderly parents, establishing a Caregiver Contract could ensure that the elder’s life savings remain in the family, instead