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Five Reasons To Never Give An Outright Inheritance To Your Children – and What to Do Instead!

If you’re like me, you want to leave an inheritance for your children. It’s likely part of what you are working so hard to do. But, far too often, the way we leave those inheritances actually does more harm than good. Something no parent wants. Giving outright ownership of our assets to the kids could put everything you’ve worked so hard to leave behind at risk. Why, how and what can you do about it? Let me share Read More

Medicare Facts For You, Your Parents

People who are nearing the age of 65 should be making plans for the transition from private health care to Medicare. It is not a simple process or one that happens automatically. You have to initiate the enrollment process at a specific time or suffer a monetary penalty. It is important to understand that applying for Social Security benefits and enrolling in Medicare are two totally different things. Don't confuse Read More

What to do with a cash windfall

Many of us like to fantasize about winning the lottery. We muse with our friends about how we might spend the money, and we dream about never wanting for anything ever again. The odds are against us, of course, at least as far as the lottery goes. But that doesn’t mean - at some point in our lives perhaps - we won’t actually come into a major amount of cash, usually in the form of an inheritance, or perhaps through Read More

Should I Pay Off My Mortgage Now or Save More Money?

To many people, living debt-free is a lifelong dream. It’s the picture of the easy life. Retired with no debt. . . You may be surprised to learn, however, that debt-free is not always the best decision – particularly if the choice is between paying off a mortgage or using the money more wisely to invest in a future using low-interest rate funds. What? I Shouldn’t Pay Off My House? Most of us don’t have that much Read More

Can I Benefit from a Reverse Mortgage?

It seems that we can’t turn on the television or radio without hearing an ad for a “reverse mortgage.” So what is a reverse mortgage exactly, and who can benefit from using one? A reverse mortgage is a type of loan taken out against your home. With a reverse mortgage (as with a traditional mortgage) you are borrowing against your home equity which is the difference between your home’s market value and the amount you Read More

What Business Owners Need To Know About The New Tax Law

After much twisting of arms and gnashing of teeth, Congress took action on the tax issue… On December 16, 2010, the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 was passed. As with any legislation there are hundreds of pages and thousands of words but, in a nutshell, this is how the legislation will affect you and your business: Tax Rates The current tax rates of 10, 25, 28, 33 Read More

The Straight Scoop on the New Tax Law and Your Estate Plan

Tax laws are confusing on a good day… What you can deduct… What you have to claim… And with all the recent changes to the laws, it’s almost impossible to know if you’re doing the right thing. We’re hoping this will help. Here’s the straight scoop on how the new federal tax law affects your estate plan (Important Note: these are changes to the federal tax laws – Massachusetts tax laws, including the Massachusetts Read More

New Year’s Resolutions For Your Portfolio

We all make New Year’s resolutions… Losing weight… Spending more time with family… Learning a new language… Few of us think of our investment portfolio in terms of resolutions.  But we should. This is a great time to sit down and really look at how your investments have done this year and plan for the next.  If you’re a do-it-yourself investor, with all the market volatility this would be a great time to talk to Read More

Are You Ready for the 2011 Tax Changes?

If ever there was a time to call your estate planning or tax attorney, now is that time. The tax cuts instituted by the Bush administration in 2001 and 2003 are set to expire in 2011 unless Congress does something to stop it before the end of this year.  There are many proposed bills up for discussion right now but it’s anyone’s guess which, if any, will be passed in time. If you are a single person earning Read More

The Parents Estate Planning Law Firm, PC is a unique estate planning law firm serving families in Massachusetts. Our team is committed to helping parents at all stages make sure their loved ones are completely protected if the unexpected happens, while making things as easy as possible for their families.

31 Nagog Park, Suite 301, Acton, MA 01451 | 978-263-6900 | info@parentsestateplanning.com | www.ParentsEstatePlanning.com