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General Blog

6 Important Estate Planning Considerations - Part 4: Beneficiary Designations
  • By: Solutions Law Group LLC
  • Published: June 28, 2018

Beneficiary designations are meant to clearly define how assets are to be distributed upon the passing of the original asset holder. But there are potential pitfalls than can be encountered as one accumulates different kinds of assets over their lifetime. In this installment of his 6-part series on Estate Planning Considerations, our American Academy of Estate Planning Attorneys colleague, Attorney Steve Hartnett, examines some common snags that can occur, and how best to avoid them. Click HERE to read onRead More

Aging in Place - Tips for Seniors to Remain Independent at Home
  • By: Solutions Law Group LLC
  • Published: June 14, 2018

To remain comfortably independent at home as they age is the goal for many seniors, and an important part of estate planning. For some, such as those who need constant medical supervision, it is sadly not possible. For others, planning ahead can help extend the time seniors are able to be independent -potentially indefinitely. The National Institute on Aging calls it “aging in place”. One of the most important things to do to safely remain in your home as you age is to plan before you think you need help - and keep reviewing the plan to make sure it still works. Here are some things you'll want to consider. Home Safety/Maintenance AARP's home safety checklist is a great place to start your…Read More

6 Important Estate Planning Considerations - Part 3: Your Kids
  • By: Solutions Law Group LLC
  • Published: June 6, 2018

One of the many tremendous benefits of our membership in the American Academy of Estate Planning Attorneys is having a nationwide "brain-trust" filled with talented and knowledgeable attorneys. Director of Education Steve Hartnett is no exception. Part-one of his six-part series on important Estate Planning considerations talks about incapacity. Part two talks about the high cost of long-term-care, which we also detail in this blog. The third installment looks at the way your beneficiaries receive their inheritances and why different approaches need to be used for different people. It is critical that you consider the individual needs of your children or other beneficiaries when preparing your estate plan. Effective Estate Planning involves finding solutions that fit - in precisely the…Read More

9 Ways to Pay for Long Term Care Without Buying Insurance
  • By: Solutions Law Group LLC
  • Published: June 1, 2018

Long term care insurance is certainly a prudent idea for most, but not everyone will qualify, and some the premiums are out of reach. This recent article highlights 9 strategies to pay the bills for those who don't have long-term care insurance. While some of the ideas the author presents may seem common sense, other elder care planning strategies may be things you haven't thought about. Our Founding and Principal Attorney, Nancy Marie Dowling has a piece in the works that takes one of the ideas here to the next level. Stay tuned!!! (Read More)Read More

6 Important Estate Planning Considerations - Part 1: Incapacity
  • By: Solutions Law Group LLC
  • Published: May 10, 2018

There are so many factors to consider in your estate plan. An experienced Estate Planning Attorney can help guide you through the process, but ultimately the decisions need to reflect your life and your values. In a six-part series, our American Academy of Estate Planning Attorneys colleague, Director of Education, Steve Hartnett, examines some of the things to consider when planning. This first blog in the series touches on the critical importance of considering what might happen if we suddenly or unexpectedly became incapacitated. Where this article references a "Healthcare Power of Attorney", we in Massachusetts instead have what is called a "Healthcare Proxy" which our Founding Attorney, Nancy Marie Dowling, explains in a previous blog (click here to read). Though…Read More

Who Will Make Your Healthcare Decisions If You Cannot? Guidelines For Choosing A Healthcare Proxy
  • By: Solutions Law Group LLC
  • Published: April 16, 2018

By Nancy Marie Dowling, Founding Attorney, Solutions Law Group LLC Deciding what to do in the event of illness or incapacitation is a decision many put off having conversations about. So many, in fact, that a group of healthcare nonprofits, government agencies and businesses across the country have designated April 16, 2018 "National Health Care Decisions Day" to encourage people to speak to their loved ones and get started planning. In many states, the documents outlining a person's wishes are called "Advance Directives". Here in the Bay State the authority and responsibility to act on a person's behalf is designated by what is called a "Health Care Proxy". What's a Health Care Proxy? In Massachusetts, the law allows every competent…Read More

Planning for retirement is about more than the money
  • By: Solutions Law Group LLC
  • Published: April 5, 2018

Planning for retirement isn't just about dollars and cents. In his latest blog, our American Academy of Estate Planning Attorneys colleague, Attorney Stephen C. Hartnett, reminds us that effective retirement planning involves not only estate planning - but also includes a well thought through picture of how you'd like to spend your time. Click here to see what he has to say...Read More

Potential Effects of the Tax Cuts and Jobs Act for Small Businesses
  • By: Solutions Law Group LLC
  • Published: March 19, 2018

The controversial Tax Cuts and Jobs Act signed into law in December 2017 has some new benefits for small businesses that are pass-through entities. Many pass-through entities will now have a new benefit of a 20% deduction relative to profits. The law is touted as being complex, and it is, as it raises many new and interesting issues for advisors. For example, it will be interesting to see what, if any, impact this new deduction will have on the number of small businesses that opt for S-Corp status in order to avoid self-employment tax on "distributions" of profit rather than straight pass-through of profits such as occur in LLCs that are Sole proprietorships or partnerships. Under the new tax code, a person…Read More

Age-Related Retirement Milestones
  • By: Solutions Law Group LLC
  • Published: March 12, 2018

Financial advisors often target certain "magic numbers" as age and life-stage related benchmarks for retirement savings and planning. In this blog, our American Academy of Estate Planning Attorneys colleague, Director of Education Stephen C. Harnett, breaks down 7 of them and provides resources for further investigation. Click here to see if you're on track.Read More

Massachusetts Ranks High in
  • By: Solutions Law Group LLC
  • Published: March 11, 2018

One of the many great benefits of living in the Bay State is the proximity of world-class medical institutions. But that comes with a hefty price tag. A 2017 Genworth Financial study shows Massachusetts coming in as the second most expensive state in the country for long term care... and that's not even including what it costs for private nursing home care, the price of which we reveal a little further down. Here are the top 10 most expensive states for Long-term-care (in-home): 1. Alaska - Average Annual Cost: $117,800 2. Massachusetts - Average Annual Cost: $73,307 3. Connecticut - Average Annual Cost: $72,671 4. Hawaii - Average Annual Cost: $71,820 5. New Jersey - Average Annual Cost: $68,833 6.…Read More

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