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Not All Assets Are Counted Equally for MassHealth

Question: My mother is entering a nursing home and applying for MassHealth to pay the monthly cost. They say her assets must be under $2,000 to qualify. She has one bank account containing $10,000 and one bond for $10,000. My name is on both assets with my mother....

What Is the Difference Between an Estate Plan and a Will?

Question: What is the difference between an estate plan and a will? Why do I need one? Answer: A basic estate plan consists of a will, health care proxy, durable power of attorney and often a declaration of homestead verses a single will. Ninety-nine percent of the...

Adopted Child May Inherit, But From Which Parent?

Question: I was adopted at a young age. I was raised by wonderful adoptive parents. Late in life, I reconnected with my biological mother. All of my parents are elderly and estate planning is being discussed. Can I inherit from my adoptive parents? By contrast, can...

Sometimes You Need a Building Permit. Sometimes You Don’t.

Question: My husband and I are fixing up our house this winter. He thinks he will be able to handle most of the work, by himself (he is not a contractor). How do we know what work will require a building permit? Answer: You may want to start off by telling him that...

Large Cash Gifts Likely Won’t Trigger the Gift Tax

Question: I would like to make some large cash gifts to my children, while I am alive, rather than by inheritance. What is the limit I can give each year, before paying gift tax? Answer: You can continue being generous. Assuming you have not given away millions of...

Saved 20% on Clothes, But Lost Home Loan

Question: We are buyers, applying for a mortgage. Our lender yelled at us for getting a department store credit card, during the process. I just wanted to save 20% with my back to school clothes purchase. Did I mess up our mortgage application? Answer: While applying...

Health Care Proxy & Power of Attorney Are a Good Idea for College Students

Question: My daughter is going to live at college in the fall. She is now 18 years old. In case of a problem, do I need anything legally to support her medically or financially? Answer: It’s that time of year again. I remember my freshman year at college. Though I was...

High Interest Loans Are Not Illegal

Question: I am behind on my mortgage payments. The bank’s foreclosure sale is about a month away. We know someone who is willing to loan us some money at a high interest rate – 25%. We really appreciate the help, but is this something that is even legal? Answer:...

Beware of Common Landlord Errors

Question: I just purchased a vacant property for rental income. What should I put into consideration, before I start to rent it out? Answer: Because the largest area of trouble for a landlord surrounds security deposits, the last two columns discussed regulations...

Should You Buy With Mortgage or Cash?

Question: I am currently selling my lifelong home and downsizing to a condo. I will make enough from my sale to pay for the condo outright. Some people have told me “It's freeing to live without a mortgage.” While others say, “It is financially beneficial to have a...

Offers Are Fleeting

Question: I made an offer to buy a house, about two days ago. We have yet to hear back from the sellers. We have been looking around at other homes and fell in love with another house. What if the seller of the original house accepts our offer? Will we be stuck buying...

For Massachusetts Residents, Vacation Purchase Requires Out-of-State Attorney

Question: I am buying a vacation home in New Hampshire. You have informed me that I need to hire a New Hampshire licensed attorney to help with my contract. However, why can you perform my closing as my closing attorney, but cannot help me with my contract? Answer: I...

Thank You for contact us!

Not All Assets Are Counted Equally for MassHealth

What Is the Difference Between an Estate Plan and a Will?

Adopted Child May Inherit, But From Which Parent?

Sometimes You Need a Building Permit. Sometimes You Don’t.

Large Cash Gifts Likely Won’t Trigger the Gift Tax

Saved 20% on Clothes, But Lost Home Loan

Health Care Proxy & Power of Attorney Are a Good Idea for College Students

High Interest Loans Are Not Illegal

Beware of Common Landlord Errors

Should You Buy With Mortgage or Cash?

Offers Are Fleeting

For Massachusetts Residents, Vacation Purchase Requires Out-of-State Attorney

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