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You are here: Home / Archives for trusts

The ABLE Act: Tax-Free Savings for People with Disabilities

Recently passed by Congress and signed into law by President Obama, the Achieving a Better Life Experience (ABLE) Act provides the opportunity for those who became disabled before the age of 26 to set up tax-free savings accounts where they will be able to save $14,000 a year without affecting their eligibility for government benefits.

Before the ABLE Act, to be eligible for government programs like Medicaid or Social Security, those with special needs could not have assets in their name surpassing $2,000. Read more.

Filed Under: Special Needs Trusts Tagged With: 529A Account, ABLE Act, Achieving a Better Life Experience Act, Boston Special Needs Planner, Boston Special Needs Planning, investments, Massachusetts Special Needs Planner, Medicaid, Social Security, Special Needs Planner, Special Needs Planning, Special Needs Trusts, trusts

Divorce and Trust Interests: Demystifying the Legal Landscape for the Practitioner

The interplay between divorce and trust interests may be one of the most vexing for practitioners and mediators.  This primer attempts to synthesize the legal landscape in this area and to demystify the issue so that we may better serve our clients. Read the article by Attorney Jonathan Fields.

Filed Under: Divorce, Family Law, Firm News, High-Net Worth, Insurance, Massachusetts Divorce, Massachusetts Family Law Tagged With: assets, Divorce, Divorce Planning, Family Law, High-Net Worth, Mediation, Trust Interests, trusts

The Landmark SCOTUS Decision that Impacts your Inherited IRA

In a landmark decision handed down on June 12, 2014, the United States Supreme Court held that inherited IRAs are not protected from creditors in a bankruptcy claim. In Clark v. Rameker, the Supreme Court unanimously held that retirement funds inherited by a beneficiary after the original plan participant’s death are not considered “retirement funds” in accordance with the federal bankruptcy exemptions. Consequently, an inherited IRA may be considered an asset of a bankruptcy estate from which to satisfy creditors’ claims. Read more.

Filed Under: Estate Planning, Family Law Tagged With: Bankruptcy, Beneficiaries, Creditors, Estate Plan, Estate Planning, Inherited IRA, Retirement Planning, Supreme Court, trusts

An Introduction to High-Net Worth Estate Planning

Estate planning is an important concern for anyone who desires their affairs be handled according to their wishes after their death.  Planning for high-net worth individuals and families is complex and dependent upon the particular desires of the family.

High-net worth estate planning should be handled carefully, so that your estate, which you’ve worked hard to build, is properly handled and the future of your legacy is secure. Read more.

Filed Under: Estate Planning, Family Law, High-Net Worth Tagged With: assets, Beneficiaries, Estate Planning, Estate Tax, Family Limited Partnerships, High-Net Worth, HNW Estate Plan, Inheritance, Irrevocable Life Insurance Trusts, Qualified Personal Residence Trust, trusts

College Planning for Special Needs Students

College is an investment in your child’s future and it is no doubt worth it, but with education costs rising, it can certainly be expensive. Planning for your child’s education should be a priority and many benefit from starting early. Starting a “college fund” in a child’s early years can be a smart investment, as it maximizes the amount of time you have to save, while also maximizing the amount of interest your money has time to earn.  Many consider a 529 College Savings Plan a great way to save for college because it sets aside the money and grows tax-free. But if your child has special needs, there may be more to consider. The Academy of Special Needs Planners recently discussed ‘College Savings for Students with Special Needs’ in their most recent newsletter, highlighting the pros and cons involved with various types of college savings options. Read more.

Filed Under: Family Law, Investments, Special Needs Trusts Tagged With: 529 College Savings Plan, gift tax, investments, Special Needs Trusts, trusts

Fireside Reading with a Side of Estate Planning

After creating a will, circumstances may emerge that prompt a desire to change various aspects of the document. Divorces, new marriages, additional children, familial disagreements and shifting allegiances to charities can each impact a will. Adding a codicil is a way to amend the document without creating an entirely new document.  A codicil is a supplement to your will which changes, revokes or adds a new provision.  Yet, it is not necessarily easier to make a codicil than it would be to create a new will.  The same formalities are required for both, including the presence of witnesses.  The codicil becomes a part of the original will, and the codicils along with the will make up one complete document. Read more.

Filed Under: Estate Planning Tagged With: codicil, Estate Planning, Fiction, Island Girls, Nancy Thayer, reading, trusts, Will, wills and trusts

Estate Planning Lessons from Tony Soprano

The tragic and untimely death of James Gandolfini shocked and saddened fans of the talented actor. And, since his will became public last month, there has been much commentary on the state of his affairs prior to his passing.

The actor’s will exposes common estate planning problems that can easily occur with blended families. Gandolfini had a 14-year-old son from a previous marriage and a one-year-old daughter with his second wife, who he was married to at the time of his death. Read more.

Filed Under: Divorce, Estate Planning Tagged With: blended families, Estate Planning Mistakes, James Gandolfini, trusts, Will

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Phone: 781.489.6776
Fax: 781.489.6233
80 William Street — Suite 210
Wellesley, MA 02481 USA

Recent Posts

A Diamond is Forever, But the Engagement Ring May Be Ne’er

January 27, 2021

The article below was written by Vicki L. Shemin, J.D., LICSW, ACSW  and published in Citybizlist on January 25, 2021 Lest you think that the proprieties and perplexities surrounding broken engagements are a modern phenomenon, we need only look back to the 15th century. It is said that in 1477, Archduke Maximillian of Austria commissioned […]

Attorney Jonathan E. Fields Quoted in Wall Street Journal

January 21, 2021

Attorney Jonathan E. Fields was quoted in today’s Wall Street Journal Millennials Embrace Prenups—but Through a Very Different Lens Than in the Past Millennials are using prenups to address new economic and social issues—including rising student debt, social-media use and embryo ownership By Cheryl Winokur Munk Jan. 21, 2021 1:00 pm ET Millennials are often […]

Vicki L. Shemin, J.D., LICSW, ACSW receives the Avvo Clients’ Choice Award Badge for 2021

January 14, 2021

Vicki L. Shemin, J.D., LICSW, ACSW was presented with Avvo Clients’ Choice Award Badge for 2021. This award is given to attorneys whose outstanding legal services have resulted in highly satisfied clients. There’s nothing that an attorney can do to ask for a Clients’ Choice Award. Instead, Avvo makes the award based only on quality […]

Attorney Jonathan Fields Quoted in Massachusetts Lawyers Weekly

January 5, 2021

Snap Judgments: Lawyers predict issue that will dominate legal landscape in 2021 By: Kris Olson December 31, 2020 (From Massachusetts Lawyers Weekly)  Q. Prediction time: What issue on the horizon will dominate the legal landscape in 2021?   “Five hours of time for a five-minute hearing has never seemed so wasteful. With the experience of remote hearings, will […]

Please Support Fields and Dennis LLP’s Fundraiser for K9s For Warriors

December 21, 2020

K9s For Warriors saves both warriors and rescue dogs. The program serves our warriors with service-connected Post-traumatic Stress Disability (PTSD) traumatic brain injury (TBI) and/or military sexual trauma, which can be deadly disorders. A trained rescue dog is paired with a warrior and the two meet for two weeks of training together at one of […]

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    Recent Blogs

    • Advice On Cooperative Co-Parenting During & After An Acrimonious Divorce: It will Improve your Mental Health
    • A Diamond is Forever, But the Engagement Ring May Be Ne’er
    • Attorney Jonathan E. Fields featured in Times of London on Prenuptial Agreements and Social Media
    • Attorney Jonathan E. Fields Quoted in Wall Street Journal
    • Vicki L. Shemin, J.D., LICSW, ACSW receives the Avvo Clients’ Choice Award Badge for 2021

    Recent Firm News & Coverage

    • A Diamond is Forever, But the Engagement Ring May Be Ne’er

    • Attorney Jonathan E. Fields Quoted in Wall Street Journal

    • Vicki L. Shemin, J.D., LICSW, ACSW receives the Avvo Clients’ Choice Award Badge for 2021

    • Attorney Jonathan Fields Quoted in Massachusetts Lawyers Weekly

    • Please Support Fields and Dennis LLP’s Fundraiser for K9s For Warriors

    The Boston metro family law, divorce and estate planning attorneys at the law firm of Fields and Dennis LLP are based in the Newton Wellesley area and serve the city of Newton: Auburndale, Chestnut Hill, Newton Centre, Newton Corner, Newton Upper Falls, Newton Lower Falls, Nonantum, Oak Hill, Waban and West Newton and town of Wellesley: Babson Park, Wellesley Hills, Wellesley Square Fields and Dennis also serves many clients in the Greater Boston and Massachusetts region including Ashland, Dover, Holliston, Medfield, Needham, Sherborn, Westwood, and all of Massachusetts.

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