Fisher Law LLC Blog
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Fisher Law LLC is a law firm that provides estate planning, elder law and estate administration services to families from the Greater Boston area. Go through the information provided by this blog which will solve your doubts regarding estate planning, trust laws, wills planning, elder law, business succession plans, useful tips in legal scenarios and more.
Fisher Law LLC Blog
6d ago
You are never too young to start estate planning. Every adult in Massachusetts can benefit from a plan that effectively protects their rights, interests, finances, and future. You may be wondering: How do I get started with estate planning? The best step that you can take is to set up a confidential initial consultation with a lawyer. It is also useful to have some background knowledge—including about the most common estate planning documents. At Fisher Law LLC, we help people and families solve problems and achieve their goals. Here, our Boston estate planning attorney highlights the five big ..read more
Fisher Law LLC Blog
2w ago
The estate tax exemption in Massachusetts is far below the federal level. In fact, the Massachusetts estate tax exemption—$2 million—is one of the lowest in the entire country. Notably, the estate tax exemption recently doubled from $1 million. With that increase, came other changes—including a reform that impacts people who own property in other states.
A non-resident who owns real property within Massachusetts could potentially be subject to estate tax liability even if their Massachusetts property is valued at less than $2 million. Here, our Boston estate planning attorney highlights the ke ..read more
Fisher Law LLC Blog
3w ago
An estate plan allows you to retain control of your property and assets. In Massachusetts, a person has broad discretion to organize his or her own affairs. While most people opt to keep their kids at the center of their estate plan, you have the right to disinherit a child—but, to meet legal standards, you should be specific when doing so. Here, our Boston estate planning attorney highlights the key things to know about disinheriting a child in Massachusetts.
You Can Disinherit a Child in Massachusetts
In Massachusetts you are not required to leave property or assets for an adult child ..read more
Fisher Law LLC Blog
3w ago
The cost of college continues to rise. A parent, grandparent, aunt/uncle, or other person who cares about a child’s future, you may want to provide financial support to their education. A 529 plan is one of the most cost effective estate planning tools to support a child’s future education. In this article, our Boston estate planning attorney provides an overview of 529 plans, including explaining what they are, why they are useful, and how you set up one.
What is a 529 Plan?
As simply described by Investopedia, a 529 plan is a “tax-advantaged account that can be used to pay educational ..read more
Fisher Law LLC Blog
1M ago
Every adult needs a well-drafted Will. If you have one—which the AARP notes that 60 percent of adults do not—you are in a good position. That being said, an outdated Will may not effectively protect your best interests. You should review, and if needed, revise, your estate plan on a regular basis. This raises an important question: Should I revise my Will or write a new Will? The answer depends on your specific circumstances. Within this article, our Boston estate planning attorney highlights key considerations when altering a will in Massachusetts.
A Will is Not a Static Document: It Should B ..read more
Fisher Law LLC Blog
2M ago
Do you have an estate plan? You should. Unfortunately, CNBC cited data showing that two-thirds of American adults do not have one at all. You need a comprehensive, well-written, and properly crafted estate plan that is communicated to your closest loved ones. This raises an important question: Where should you keep your estate plan? Within this article, our Boston estate planning attorney answers the question by providing a guide to where you should keep your estate plan.
Best Practices for Storing Your Estate Planning Documents
What is the best practice for storing your estate planning ..read more
Fisher Law LLC Blog
2M ago
A well-designed estate plan should be comprehensive. Among other things, that means planning for incapacity. While it can be uncomfortable for many people to think about, the reality is that there could come a day when you can no longer reasonably manage your own affairs. At Fisher Law LLC, we help people and families prepare for incapacity. Here, our Boston estate planning lawyer provides a comprehensive checklist that you can use for incapacity planning in Massachusetts.
You Need an Estate Plan You Can Rely On: An Incapacity Planning Checklist
Last Will and Testament
You ..read more
Fisher Law LLC Blog
2M ago
For many people, because their house is their most valuable asset, it is the central or pivotal piece to their estate plan. . Real estate may be passed on to a child or another individual(s). What happens when someone inherits real estate in Massachusetts? Will they be required to pay taxes? Within this blog post, our Boston estate planning attorney provides a comprehensive overview of the most important things that you should know about taxes on a house that you inherited in Massachusetts.
Inheriting Real Estate? An Overview of Tax Obligations
The Recipient Does Not Have to Pay an ..read more
Fisher Law LLC Blog
2M ago
The Massachusetts Court System explains that probate is “the process of transferring property and ownership after someone has died.” Unfortunately, probate can sometimes be a slow, frustrating process. This raises an important question: Can you skip probate in Massachusetts? The short answer is “it depends”—some estates in the Commonwealth can bypass formal probate. Within this article, our Boston probate lawyer explains the key things to understand about “skipping” the formal probate process in Massachusetts.
Understanding Probate in Massachusetts
When a person dies in Massachusetts, th ..read more
Fisher Law LLC Blog
3M ago
For many people, real estate is among their most valuable assets. Protecting real estate—whether you are dealing with your primary residence, a rental unit, or any other property—is an important part of estate planning. This raises an important question: Can I transfer my real estate in a trust?
In Massachusetts, the answer is “yes”—but your specific needs and goals will determine if it is the best option for your situation. Here, our Boston estate planning attorneys provide a comprehensive overview of the most important things that you should know about transferring real estate into a trust i ..read more