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Legacy Counsellors, P.C.

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How to Care For Your Pets After You’re Gone

Welcoming a new pet into the home, is always a happy occasion. Planning for a furry friend’s life after its owner has passed, is as important as any other aspect of pet care. It’s interesting that so many Americans still don’t have wills, yet a recent survey of pet owners... Continue reading

Posted yesterday at Legacy Counsellors, P.C.

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I’m Too Young to Need a Will

When most people in their 50s don’t have a will, it’s no surprise that people in their 20s and 30s don’t think they need a will. However, they do, especially if they have small children. Most of us live for a long time, before we come in contact with the... Continue reading

Posted 2 days ago at Legacy Counsellors, P.C.

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Blending Families? Be Mindful of Your Estate Plan

An estate plan is the perfect solution to making sure that your assets are passed on to your children from a prior marriage—if you make sure that is addressed in your estate plan. If you neglect to do this, you could disinherit your own children. Here are some interesting statistics:... Continue reading

Posted 4 days ago at Legacy Counsellors, P.C.

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Using a Trust to Control Heirs from the Grave

An incentive trust makes it necessary for your heirs to follow certain paths in life. Make sure it’s done correctly and that you pick the right trustee to make it work. More than one person has said they don’t want their kids to be spoiled by a large inheritance. However,... Continue reading

Posted 5 days ago at Legacy Counsellors, P.C.

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Business Owners, Ranchers and Farmers: You Need a Succession Plan and Time to Create It

Whether your prize assets are dairy cows, acres of cropland or manufacturing, a business succession plan takes a lot of time to map out. Business plans are often by-products of good succession plans. Planning to hand over a business takes more than one meeting with one professional. It can take... Continue reading

Posted Feb 8, 2019 at Legacy Counsellors, P.C.

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Another Tax-Sheltered Employee Retirement Plan: The 403(b)

There are similarities and differences between the 403(b) and the 401(k) plans, but both offer a good path to retirement savings. For those who work in a non-profit organization, like a school, social service agency, college, hospital system or a museum, the 403(b) plan is the retirement plan offered by... Continue reading

Posted Feb 6, 2019 at Legacy Counsellors, P.C.

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Are There Still Strategies For Claiming Social Security Benefits?

Some strategies are no longer available, but there are still ways to maximize benefits. The trick is knowing what to do, and when, so you don’t miss out. Make the wrong move, and you could put a strain on your retirement finances. How can you get the most out of... Continue reading

Posted Feb 5, 2019 at Legacy Counsellors, P.C.

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How Do I Know Which Estate Planning Attorney To Choose?

Finding the right estate planning attorney is a lot like looking for a medical specialist. They don’t have to be your best friend, but they must inspire confidence that they are looking out for you and your family. There are a number of ways to find an estate planning attorney,... Continue reading

Posted Feb 4, 2019 at Legacy Counsellors, P.C.

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Left Out of the Will? Spouses Still Have Rights to Inherit in Massachusetts

For one family, the court’s reach back to a legal principle from centuries ago had to have been a surprise. The father’s second wife was not in the will, but the court said she was entitled to a third of his assets. Based on a legal principle from 1783, updated... Continue reading

Posted Feb 4, 2019 at Legacy Counsellors, P.C.

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Here’s What You Need to Know About a Will: You Need One

A will is the cornerstone of estate planning. It reflects your wishes for the distribution of your assets, must comply with your state’s laws and helps your family after you have died. Despite its importance and the inevitable need, AARP did a survey that showed that two of five Americans... Continue reading

Posted Jan 31, 2019 at Legacy Counsellors, P.C.

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How Prepared Are You for This Retirement Health Cost?

Long-Term Care insurance is the insurance that no one wants to consider, but when you need it, you’ll be glad to have it. LTC protects your health and your retirement savings. Most people receive Long-Term Care (LTC) insurance as part of their employment benefits package and often confuse it with... Continue reading

Posted Jan 29, 2019 at Legacy Counsellors, P.C.

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What Happens to Debt When You Die?

If you don’t care what happens to family members, go ahead and die in debt. However, if you do, then you’ll want to understand what happens when you pass away, and your debt lives on. Studies show that Americans are dying with an average of $62,000 in debt. That’s not... Continue reading

Posted Jan 25, 2019 at Legacy Counsellors, P.C.

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Get Your Financial and Legal Life Ready for a New Baby

Congratulations—there’s nothing like a new baby to bring excitement and joy to your family. However, now you’ve got some preparation to do, and it’s not just decorating the nursery. Preparing for a new addition to the family includes a wide range of lifestyle and financial decisions, says a recent article... Continue reading

Posted Jan 24, 2019 at Legacy Counsellors, P.C.

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Medicaid Penalties to Be Aware Of

People who try do-it-yourself Medicaid planning often fail, in a big way. It’s a complex system, and not easily gamed. It is best to work with an elder lawyer. When someone applies for Medicaid, the government wants to be sure that they need the benefits. If you own an investment... Continue reading

Posted Jan 23, 2019 at Legacy Counsellors, P.C.

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Retirement Accounts as Part of Your Estate Plan

It’s easy to focus on your home and personal possessions when doing estate planning, but your retirement accounts might constitute the majority of your assets. The rules are different for this class of assets, so work closely with an advisor to make sure retirement accounts are aligned with the rest... Continue reading

Posted Jan 22, 2019 at Legacy Counsellors, P.C.

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In Your 30s? Get Fiscally Fit Now, and Your Future Self Will Thank You

Starting to save early and saving routinely, is your best route to a comfortable retirement. Before you know it, retirement will be around the corner. It seems impossibly far away when you are in your thirties. Why should you start putting away money for retirement now, when you’re young and... Continue reading

Posted Jan 18, 2019 at Legacy Counsellors, P.C.

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Rich or Poor, Everyone Needs an Estate Plan

Now that the holiday season is winding down, it’s time to get back to business—and that includes making sure you and your loved ones have your estate plans all set. If you’ve got older parents or relatives, says Fox 5 NY in its article “Why estate planning is important regardless... Continue reading

Posted Jan 16, 2019 at Legacy Counsellors, P.C.

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What You Don’t Know About Caregiving Costs Could Cost You Plenty!

There are a lot of myths about caregiving costs, and the wrong information can add up fast. Protect yourself and your loved one, by learning what resources are available for what services. Here’s a number that will give you something to think about, if you are a caregiver or are... Continue reading

Posted Jan 15, 2019 at Legacy Counsellors, P.C.

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What Does Your Magic 8 Ball Say About 2019?

The last quarter of 2018 has been quite a dizzying ride, with headlines rattling even the most optimistic of us. Let’s take a look at the coming year’s hot topics. It’s that time of year, when New Year’s resolutions and predictions for the coming year are on everyone’s mind. In... Continue reading

Posted Jan 10, 2019 at Legacy Counsellors, P.C.

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My Millennial Kids Don’t Get Estate Planning. How Can I Help Them?

Ask almost any millennial if they’ve thought about estate planning or having a will, and chances are they’ll tell you they don’t need it, don’t want it and can get it online. Boomer parents of millennials are trying to get their adult kids to understand the importance of having an... Continue reading

Posted Jan 8, 2019 at Legacy Counsellors, P.C.

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Millennials Need Estate Planning Too

It’s a common response to a concerned parent: the millennial says they don’t need an estate plan. After all, they are young, and life is long. However, as older people know, unexpected events happen. It was about a year ago that a tragic shooting took the lives of 58 people... Continue reading

Posted Jan 4, 2019 at Legacy Counsellors, P.C.

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Will You Risk Dying Without a Will?

Your assets and your legacy may not be what you had wanted. Your loved ones won’t be able to do much about it. That’s probably not how you want to be remembered. One of many reasons to have a will, is the ability to name the person you want to... Continue reading

Posted Jan 3, 2019 at Legacy Counsellors, P.C.

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Are My Retirement Accounts Part of My Estate Plan?

There’s more to your estate plan than distributing tangible assets, like your home or stamp and coin collection. For many people, retirement accounts, like 401(k)s or IRAs, make up the lion’s share of their estate. Don’t neglect your retirement accounts, when creating or reviewing your estate plan. Knowing who is... Continue reading

Posted Jan 2, 2019 at Legacy Counsellors, P.C.

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How Do I Make Sure My Assets are Properly Titled?

An estate planning attorney will tell you that assets need to be properly titled, so that your estate plan aligns with the assets. In some cases, you can use joint ownership of an asset to have the asset pass directly to an heir at the time of your death. However,... Continue reading

Posted Dec 28, 2018 at Legacy Counsellors, P.C.

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Is Your Estate Plan out of Date?

If your estate plan is more than three or four years old, it could be out of date, and that could cost your heirs plenty. Is that worse than not having an estate plan at all? Not having an estate plan is a bad thing. Having an out-of-date estate plan... Continue reading

Posted Dec 27, 2018 at Legacy Counsellors, P.C.

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