Step-Up in Basis and Why It Matters in Estate Planning

If you are estate planning or inheriting assets, it is important to understand what the step-up in basis is and how it may affect you. What Is the Step-Up In Basis? The step-up basis is a provision in federal tax law. It determines how assets are valued for calculating capital gains taxes when a person passes … Read more

What Are the Benefits of Having a Testamentary Trust?

There are various benefits to creating a testamentary trust including wealth management, asset protection and for tax purposes. What Is a Testamentary Trust? A testamentary trust allows a testator to manage wealth by giving a trustee instructions for distributing their property after the trustee’s death. A testamentary trust is a part of the testator’s last will and … Read more

Having a Plan

Having A Plan Many of my clients are reaching out to me to say how they are more confident than ever in the estate planning we did together. There is a more heightened sense of “do I have my affairs in order, is there anything else I should be doing in case I get sick … Read more

5 Rights That Trust Beneficiaries Have

As a trust beneficiary, you may feel that you are at the mercy of the trustee, but depending on the type of trust, here are 5 rights that trust beneficiaries have to ensure the trust is properly managed. A trust is a legal arrangement through which one person, called a “settlor” or “grantor,” gives assets to … Read more

Why Small Business Owners Need an Estate Plan

Running a small business can keep you busy, but for this very reason it’s especially why small business owners need an estate plan. Not having a plan in place can cause problems for your business and your family after you are gone.   While an estate plan is important for everyone, it is especially important … Read more

ElderLawAnswers.com The National Academy of Elder Law Attorneys (NAELA) Elder Care Matters Logo The Mass National Academy of Elder Law Attorneys (NAELA)
Kennan Law Offices Cape Cod