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What Happens if You Do Not Have a Will or Trust
People delay estate planning for many reasons. Some may say, “I’m young; I have plenty of time,” or “My children will inherit everything anyway.” Such reasoning may jeopardize your estate, sour family relationships, and create many complications for your heirs. What happens if you do not have a will or trust in Massachusetts, and why…
When To Hire an Attorney for a Real Estate Closing
If you’re buying or selling a property in Massachusetts, state law requires that an attorney be present at the real estate closing. This is typically the lender’s closing attorney, but buyers and sellers are free to hire their own lawyers as well, and most do. Read on to learn why you should consider having legal…
What Are “For Informational Purposes Only” Inspections?
If you’re in the process of selling a house as the realtor or the owner, understanding “for informational purposes only” inspections is crucial. If a buyer requests this type of inspection, you should know the potential consequences and the best ways to respond. Here’s everything you need to know about “for informational purposes only” inspections.…
When Estate Planning and Real Estate Collide
A revocable living trust can be a great way to handle real estate and keep it out of probate when you pass. However, there are a few key steps you need to take after creating the trust and many estate planning attorneys miss one critical step. You will need a deed transferring the property into…
What Happens to Your Digital Assets When You Pass Away?
You may be familiar with estate planning or the process of planning what will happen with your finances, real estate, retirement plans, and other assets after you pass away. However, did you know that modern end-of-life planning extends to digital estate planning? This includes your email and social media accounts, subscriptions, electronic files, and virtually all your…
Selling Real Estate from an Estate
If you decide to sell a home owned by an estate still in probate, you need to be careful to follow the rules so the transaction will be valid. Generally, the estate must go through formal probate rather than the informal process. The personal representative will usually need to petition the court for a license…
Don’t Lose the Value of Your Title Insurance – Get the Right Endorsement After Creating a Trust
Because I work extensively with both real estate law and estate planning, I see one common mistake people make that can cause trouble in the future. Fortunately, there’s an easy fix. Real estate owners often purchase title insurance to protect themselves and their heirs if somebody later challenges the validity of their title to the…
What Should I Do With My Deed After My Spouse Dies?
Your real estate deed will not be the first thing that springs to mind after your spouse passes away. Eventually, however, it occurs to many people that have lost a spouse that they may need to do something to change the deed on their property to reflect the passing of an owner. While there are…
What are the Essential Documents for a Good Estate Plan?
A good estate plan protects you, your people, and your stuff. So which documents do you need to do that? Healthcare protection documents. You should have a Health Care Proxy that authorizes a family member or friend to make medical decisions if an illness or injury renders you incapable of making or communicating your own…