Curley Law Firm Blog
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This blog by Curley Law Firm LLP offers Wakefield, Massachusetts residents news and insight on the topic of Estate Planning and Elder Law. Curley Law Firm provides Estate Planning and Elder Law services and helps you protect yourself and your family as well as your homes and savings.
Curley Law Firm Blog
2w ago
An estate plan is highly personal. A testator who is creating documents has to think about their family and their personal wishes at length. They may need to name a guardian for their children or arrange for someone to care for a pet after they die. Many times, estate plans address someone’s needs and comfort later in life, not just the protection of their legacy after their passing. An asset protection plan can be a very important inclusion in modern estate plans. Asset protection planning can serve an important role both later in someone’s life and even after they die. What does an asset pro ..read more
Curley Law Firm Blog
2M ago
Aging is a privilege in many respects, but the process can be a very humbling one. Some people develop age-related health conditions later in life that affect their quality of life and even their legal rights. For example, consider dementia, which can develop as a result of Alzheimer’s disease or might occur on its own. A patient experiencing dementia may have a difficult time differentiating reality from fantasy or memories. They can engage in irrational behavior, such as attempting to flee their caregivers. It can be very difficult to come to terms with a diagnosis of dementia for oneself or ..read more
Curley Law Firm Blog
4M ago
Elder law planning is often something people don’t consider until there is a crisis. Their mother falls down the stairs, and they suddenly recognize that she may need to move into a nursing home. Older adults may begin planning as quickly as possible after a diagnosis of a terminal condition or a doctor deciding that they need to undergo surgery. Those facing a financial crisis or major challenges with a loved one’s safety may need immediate help addressing those issues. The pursuit of a guardianship when someone’s cognitive capacity suddenly declines is another example of a crisis that would ..read more
Curley Law Firm Blog
7M ago
Elder law is a specialized area that focuses on the legal needs of seniors as they age. For a host of reasons, understanding the ins and outs of this field is crucial for those approaching their golden years. Getting the correct information and guidance is essential whether you’re interested in safeguarding your personal interests or helping an aging family member to safeguard theirs. From healthcare planning to financial management, elder law covers a wide range of topics that concern older adults. While many think it’s just about wills and trusts, the reality is far more comprehensive. If yo ..read more
Curley Law Firm Blog
9M ago
In 2019, the federal legislature passed a bill called the Setting Every Community Up for Retirement Enhancement (SECURE) Act. The original SECURE Act allowed more workers to make contributions to traditional IRA retirement savings accounts and increased the age at which someone can start receiving distributions from 70.5 to 72, while also making 401(k) plans accessible to certain part-time workers. In 2022, the legislature revisited the SECURE Act by proposing the SECURE Act 2.0. The President signed the bill into law at the end of 2022. Many people planning for retirement find this new law co ..read more
Curley Law Firm Blog
11M ago
MassHealth is the Massachusetts Medicaid program. It provides need-based medical coverage for those who need extensive treatment and have limited income and personal resources. Many older adults turn to MassHealth or support when they need in-home nursing care or assistance paying for a bed in a nursing home or long-term rehabilitation facility. People tend to assume that they will retain their need-based benefits indefinitely after qualifying for MassHealth unless their income suddenly increases. However, a large number of MassHealth beneficiaries may receive a blue envelope in the late sprin ..read more
Curley Law Firm Blog
1y ago
It’s a harsh reality, but age isn’t exactly kind to anybody. Whether you want to try to “age in place” in your own home or you prefer the idea of moving into assisted living or nursing care after a certain point, it takes some planning to meet those goals – and that usually involves some form of Medicaid (MassHealth) planning. Medicaid planning is necessary because long-term care is very expensive and seldom covered fully by insurance or Medicare. Done correctly, Medicaid planning can help make sure that your assets aren’t entirely depleted (so that you can leave something behind for your heir ..read more
Curley Law Firm Blog
1y ago
When it comes to special needs planning as a part of your estate plan, it’s very important to do it as soon as you can. For one thing, once your child turns 18, you may no longer have a say in some of these critical decisions. But you can do this while your child is still minor and you are legally in a position to set things up in a way that will benefit their future. Failing to plan can often lead to a crisis. This takes time, and time may be something that your family simply doesn’t have. These decisions must be made and your heir must be cared for, so you do not want to take a risk and put ..read more
Curley Law Firm Blog
1y ago
This upcoming talk is overdue. You know it, and your parents know it. This discussion centers on housing options for your aging parents. Realistically, the family home is now much too big for them to maintain. In addition, your mother and father, sometimes, could use assistance in some day-to-day activities. Your concerns are natural as you wonder whether they can still take care of themselves. Options exist and may include having you or a sibling moving in as a caretaker, hiring an in-home care specialist or moving into a senior living facility, assisted care facility or nursing home. All top ..read more
Curley Law Firm Blog
1y ago
Having an estate plan – whether a will or trust – shows that you have the foresight to ensure that your assets get distributed the way that you want them. The benefits of having an estate plan are many and include protecting your beneficiaries, protecting young children if you have them, minimizing tax-related consequences for your heirs, and limiting family disputes. Survey: two-thirds of Americans don’t have will or trust But not everyone understands the importance of having an estate plan. Earlier this year, North Carolina-based Caring.com – a leading online resource for senior care – relea ..read more