Monday, June 2, 2014
Do you want to be in charge of your own bank account? If your answer is a resounding "yes!" then you need to have your bank account titled into your Life Trust. If your bank account is in your own name alone, then, as soon as you get sick and can't go to the bank, or get confused and can't balance your account, you're in trouble. The banker will tell you: "just put someone else's name on the account!" But doing so without the protection of your Life Trust is giving your money away. Your bank account becomes the property of that other person. That other person would have to come into the bank in order for you to remove them from the account.
Even if the other person is your husband or wife, the same rule applies - by all means have both names on the account. But use the Life Trust, for flexibility and control. If you were both sick, your Life Trust can name another trustee to take over. After you're gone, your Trustee can settle the account with the rest of your estate, instead of having to disentangle it from someone else's property first.can
Sunday, January 13, 2013
"Sign here, please." We are all confronted with this casual request fairly frequently - at the bank, at the doctor's office, at the pharmacy. Do we always know what we are signing? Often, we are not even given an opportunity to read what we are agreeing to.Read more . . .
Monday, January 7, 2013
A little known but very effective tool can allow you to set up a trust to protect your assets from Medicaid after you die. By integrating it with your existing planning, a very favorable result can be obtained with little extra trouble.Read more . . .
Sunday, January 6, 2013
Settlement is what you do when someone dies. All too often, clients come to me to plan for their own estates, and, as we explore the estate - what accounts are there? what property do you have? We learn that some of their property is actually still titled to people who are dead.Read more . . .
Wednesday, October 3, 2012
Are you living the American Dream, or the American Nightmare? I explain the difference between MediCare and MediAid, and how you can prevent the American Dream from becoming the American Nightmare by using an irrevocable trust to protect your assets from the cost of a nursing home if you ever need one.Read more . . .
Sunday, February 12, 2012
This post is for people who need to reduce their estates below the Massachusetts "exemption" of $1 million, and especially for those who risk incurring the federal estate tax on estates in excess of $5 million. Find out whether "Crummey" trust powers are a solution to your problem.Read more . . .
Sunday, February 5, 2012
In "Double Decker" estate planning, the children are involved with the process of planning the parent's estate. This can be useful, but it is not without it's hazards, when the Elder Law attorney becomes a lightening-rod for family conflict.Read more . . .
Wednesday, January 18, 2012
Metrowest Daily News has published my article: "Stick Note Estate Planning." To read it, click hereRead more . . .
Sunday, August 28, 2011
When you have to get out fast, should you take your "Estate Planning Portfolio?" What happens if you don't?Read more . . .
Saturday, April 30, 2011
How millions of dollars are lost because insurance proceeds are not claimed, and what to do about it.Read more . . .
Saturday, March 26, 2011
How to avoid the cost of a nursing home - and how to protect your property in case you can't.Read more . . .
Jennifer A. Deland, Counselor-at-Law advises clients throughout the Metrowest area, including Holliston, Hopkinton, Milford, Medway, Medfield, Ashland, Framingham, Natick, Sherborn, Dover, Southborough, Sudbury and Westborough.
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