  Happy December! If you’re in need of an energy boost during all the holiday shopping and planning, take full advantage of National Chocolate Covered Anything Day on December 16. Whether it’s a piece of candy, a strawberry, a pretzel, or anything else you can think of, cover it with chocolate and enjoy.
As you’re thinking of holiday shopping, remember that one great gift you can give your loved ones is the protection of an estate plan that will provide for them and for you. Your estate plan’s goals could include protecting and growing your assets, protecting you in the event of incapacity, and providing for loved ones in the future.
One holiday that we can probably all benefit from is Make Up Your Mind Day on December 31. If you’ve been procrastinating or waffling back and forth on a decision, this is the day to make that decision and move forward. So if you’ve been thinking about calling me with a question, updating your estate plan, or creating some new documents, make the decision to get it done and reach out to me at 617.299.6976 and by email at mkarr@maheritagelawcenter.com.
A special thank you to all the great families I’ve worked with this past year. It was an honor getting to know you and helping you with your estate planning and elder law needs.
Best wishes for a happy and healthy holiday season!
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The Heritage Law Center Has Moved
Yes, we've moved, but not that far. We're actually still in the same building at 400 Trade Center, but we're now in Suite 7810. This office provides a little more space for us to meet with you when you come in. Hopefully, we'll have all our wall decorations up by the time we see you.
QUESTION: My friend recently passed away and his son told me his  will has to go through probate, so it will be quite a while before they see any inheritance. Is there a way I can avoid probate for my own estate?
ANSWER: With the right estate planning, probate can be avoided. Some assets can avoid probate by simply filling out the right paperwork. IRAs, certain pension funds, and bank accounts can all avoid probate by having a designated beneficiary listed with your financial institution. Those assets will automatically become the property of your beneficiary after proof of your death has been given. Other assets like you home and other real estate, need to be put in a trust during your life. Assets held in trust avoid the probate process whether the trust is a “living” revocable trust or an irrevocable trust. The key to avoiding probate is to plan ahead.
On the Blog: Estate Planning for Snowbirds
As some Massachusetts residents get older, they choose to avoid the cold New England weather and reside in a warmer climate during part of the year. What does that mean for your estate planning? Read More.
Estate Plans of the Rich and Famous
Anthony Bourdain
Anthony Bourdain, celebrity chef and TV host, died by suicide on June 8, 2018, at the age of 61 in a hotel room in Kayserberg, France. He left behind his 11-year-old daughter, Ariane, and his estranged wife, Ottavia.
In his will, he left the bulk of his $1.2 million estate to his daughter. Bourdain had also established a trust and made Ottavia the trustee who will oversee the account for Ariane, the beneficiary. Ariana will receive money from the trust when she turns 25 and 30, and will get access to the balance when she’s 35. One great aspect of a trust is that, unlike a will, it isn't processed in probate court so it doesn't become public information.
He also bequeathed to Ottavia his household effects, including cars, furniture, books, and frequent flyer miles to “dispose of in accordance to what she believes to be his wishes.” Since his career had required a tremendous amount of traveling, it's likely that those frequent flyer miles have a significant value.
People often overlook award perks like frequent flyer miles when creating an estate plan, but it’s important to include them. Award perk programs each have their own specific policies, but by including them in your estate plan, there’s a greater possibility that points will transfer as the deceased's written request intended.
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Schedule an Initial Consultation Today.
Your initial consultation is always complimentary with no obligation. Take action today to secure your financial legacy.
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