The new Massachusetts Uniform Probate Code (MUPC) was signed into law several years ago and several important and significant changes took effect on January 2. The new legislation is designed to simplify, streamline and clarify the probate process. In certain cases it will require less court supervision and estate resolution will be quicker and be less costly, at least in theory. Click here to learn details of another important chapter in the state’s probate code.

Death and taxes are certainties in life, we’ve all heard that. What you may not know is that the likelihood of becoming disabled is much greater than the likelihood of dying.

Proper planning for either disability or death is one of the most thoughtful things you can do for your family.  In an article Helping Families Survive after Death or Disability, you will learn valuable information from Attorney Cammuso who walks readers through the essential and important estate planning documents that you need to pull together to make things easier for your family in the event of your disability or death.

If you had a heart condition you would not see a general practitioner or go online to figure out your own treatment. You’d look for a heart specialist – one with extensive training and understanding of coronary heart disease to reduce your risk of a heart attack or stroke.

Similarly, when it comes to estate planning selecting an attorney who specializes in this field should be your starting point. In EstatePlanning: The Right Attorney uses a Personal Approach, Attorney Cammuso guides you through a selection process to help you make the right choice.

People generally recognize the importance of long-term care and nursing home planning – just not always when it comes to themselves or their loved ones. Many people live in denial that they would ever face that situation. Attorney Cammuso’s Long-Term Care or Nursing Home article walks you though several scenarios to help readers avoid common long-term care planning and nursing home planning mistakes.

It’s hard to get excited about estate planning. People postpone the inevitable and many end up regretting it when they find themselves in a “we only wish we did it” situation. Attorney Brendan J. King discusses estate planning with Tom Colletta, host of the WCCA TV13 What It’s Worth Show. This video is an animated, interesting and entertaining discussion on estate planning that might just convince you to take action to avoid the biggest estate planning mistake you can make – that is, not doing anything at all. Click here to watch

Linda Cammuso joined the discussion on The Morning Show on NECN about pet owners and whether they go too far and spend too much keeping their pets happy and well-cared for. Pet owners feel they absolutely do not go too far, and professionals confirm that the current trends are normal and healthy, so long as owners’ physical and financial needs are also met. Bridget Blythe, show host, also discussed pet trusts with Attorney Cammuso and how to handle those who feel that legal planning for pets is over the top. According to Linda and other guests, pets are an important part of peoples’ lives, and owners should go the extra mile to provide for their pets’ futures if they feel the need, including having a lawyer include pets as part of the owner’s estate plan. For the complete story click here.

Reverse Mortgages provide a viable source of financial independence for many seniors.   Earlier this year, two major players in the reverse mortgage market stopped offering them, citing higher costs, lowering real estate values and unwieldy regulations.

With many seniors already apprehensive to consider a reverse mortgage, the exit of two major financial institutions from the market may reinforce the perception that reverse mortgages are a risky endeavor.  However, as with any financial product, it is important to understand the parameters and purpose of a reverse mortgage before dismissing it.  Seniors should also bear in mind that the recent regulatory developments with reverse mortgages, which prompted these institutions to stop offering them, were actually implemented to safeguard seniors in the lending process.

Reverse mortgages allow homeowners over the age of 62 to receive either a lump sum of money or a regular stream of income by converting a portion of the equity in the property to cash. Borrowers must continue to pay the property taxes on their homes, as well as keep the property insured and maintained. When the homeowner either moves or dies, the property is sold, the bank is paid back from the proceeds of the sale and left over funds go to the homeowner or his/her estate.

A reverse mortgage, as with a traditional mortgage, is a lending instrument and subject to government regulations and qualifications. There are also costs associated with originating the loan.

Reverse mortgages have traditionally been used as a retirement fund for seniors who have limited sources of income beyond social security. With the many unforeseen increases in costs of living coupled with the hit to many people’s retirement accounts with the market performance in recent years, many seniors find reverse mortgages to be the solution that allows them to maintain a comfortable standard of living.

Because a reverse mortgage can impact your existing estate plan and affect your planning options in the future, you should consult with your estate planning attorney and financial advisor if you’re considering a reverse mortgage.

If you want to make an easy job seem mighty hard, just keep putting off doing it. Olin Miller

Avoidance behavior is easy and we all practice it to an extent; but delaying important estate planning decisions can have profoundly negative consequences for you and for your loved ones. Four Common Estate Planning Mistakes, written by Linda Cammuso for Fifty Plus Advocate, discusses four of the mistakes that people make even before they begin the estate planning process. If this sounds familiar to you – “I don’t need an estate plan because I don’t have enough money”, you’ll want to read the article to hear about other very common misconceptions, and learn what you can do to avoid the consequences that inaction is sure to trigger.

Post by
Linda Cammuso

People do recognize the need for long-term care and nursing home planning for others-not for themselves or their loved ones; they simply deny that they could be in such a situation. If you are among those, you should listen to Avoiding Common Long-Term Care/Nursing Home Planning Mistakes that was recently aired on Money Matter Radio.

When it comes to long-term care and nursing home planning, people often make mistakes that are avoidable.  Too often, they assume that they will never be in a situation to need nursing home care, which is one mistake. Another is assuming that Medicare will cover nursing home costs –not true. In this broadcast Attorney Linda Cammuso walks listeners through many of the mistakes people make when it comes to long-term care planning and cautions them not to wait until they are in a crisis situation to plan. Not being aware of the MassHealth/Medicaid financial rules is another issue, followed closely by assuming your estate is too large, or too small, to worry about long-term care planning. Making annual gifts to children and not realizing the implications of the MassHealth five-year look back and not using an attorney who specializes in long-term care planning are also lapses. There’s more, tune into this broadcast and let Attorney Cammuso tell you how to avoid those mistakes

Post by
Brendan King

If you, or anyone you know, have misconceptions about estate planning, be sure to catch 10 Estate Planning Mistakes that People Make that was aired on Money Matters Radio.

If you needed a stent, you would go to a heart specialist rather than to a general practitioner – that would be a mistake. Similarly, when it comes to estate planning you should look for a lawyer who is an estate planning specialist, rather than one who is not skilled in this field. When it comes to estate planning people make mistakes such as thinking they don’t need a plan because they don’t have enough money or assets. Other common problems include using do-it yourself wills, not communicating – or over communicating – your plans with family members, not updating your plan, not connecting assets to your estate plan, or even not calling an attorney because you don’t know the right one to call. Tune in to hear what Attorney King has to say about avoiding these mistakes.