A Guide to Surviving Spouse IRA Options

In order to explain how a traditional surviving spouse IRA operates, you must first understand how it would work for you during your lifetime. Funds that you have contributed to your traditional IRA investment account are untaxed earnings, and will be allowed to grow with investment income, which will then be taxed together as ordinary income upon withdrawal.

Unless you are disabled or withdraw the funds under some other statutory exemption, there will also be an additional 10% early …

What Every Same-Sex Couple Should Know About DOMA

In June of this year, the Supreme Court overruled key provisions of the Defense of Marriage Act (“DOMA”), thereby eliminating the definition of marriage as one between a man and woman. Not only did this represent a tremendous victory for same-sex spouses and modern families across the country, but it also extended numerous retirement benefits, employment benefits, and tax breaks that were not available pre-DOMA. We understand that it is difficult to read through all of …

Will My Child’s Divorce Affect My Estate Plan?

The divorce rate in the United States is currently about 50% of all marriages. Most parents do not want to see their estate assets go to a child’s divorced in-law in a marital property division even though they usually want their child, and their grandchildren, to benefit from their estate. What should parents do to take into consideration the possibility or probability of a child’s divorce?

The answer requires a general explanation of Massachusetts family law and how a probate…

If you were asked, “Would you be my Executor / Trustee / Conservator?”, how would you answer that question?

Family members and friends are often asked to serve as the administrator or “fiduciary” of a Will, Trust, or estate of an incompetent person. These include the titles of Executor or Personal Representative named in a Will, Trustee of a trust, or Conservator of an incompetent person. Each appointment brings with it both liabilities and responsibilities that the appointee should be aware of in advance.

A “fiduciary” legally owns and has control of the property