Q: Nashua estate planning client has questions about whether his parent’s manufactured home is covered by the NH “homestead” allowance? A homestead is a dwelling owned and used as the principal place of residence by the person claiming the homestead. Under RSA 480:1 every person is “entitled to $120,000 worth…
If you have ever wondered if it is worth the time and effort to draft a will, look no further than the Aretha Franklin estate for your answer. Aretha Franklin left an eighty-million-dollar estate comprised of the assets of her musical legacy, and it was initially presumed that she left…
New Hampshire’s recently adopted law on access to and administration of a deceased person’s “digital assets” provides some clarity on a complex issue. Terms of service agreements and privacy policies govern access to social media and email accounts, and most expire when a user dies and are not transferable. Surviving family members…
...about the use of a prenuptial agreement to support her estate plan. The use of a prenuptial agreement (defined in New Hampshire as an agreement “wherein a man and a woman in contemplation of marriage may enter into an inter-spousal contract”) can be a polarizing topic with many people viewing…
Some of our estate planning clients are trustees over trusts created by firm clients, or are asked to serve as a trustee or successor trustee over a trust drafted by other attorneys for a parent, sibling, or other relative. What a trustee must do to administer a trust is a…
Many New Hampshire business owners commonly have not reviewed their estate planning documents with an attorney in many years nor have they developed a formal business succession plan. To avoid huge mistakes, business owners should take the time to ask the following pertinent questions: Do I have a will and/or…
What Are Motivating Factors For Estate Planning And Business Planning? A recent client consultation touched on the “whys” of estate planning and business planning. As in, what do most people want to accomplish when they come in to our offices? Here is my unofficial “top five” list. 1. Incapacity planning…
Effective January 1, 2018, NH adopted a version of the Uniform Power of Attorney Act. One of the more important provisions under the new law is that banks and financial institutions are prevented from arbitrarily refusing to accept powers of attorney. Bank and investment company refusals to accept powers of…
It’s no secret that people all over as well as New Hampshire are living longer. While this is a good thing, a longer life also means planning for more years after retirement. Many seniors are choosing to (or need to) work after retirement. According to the AARP, 4 out of…
Is an LLC a good way to hold and transfer the family vacation home? Since family vacation homes often provide a refuge for family members to gather and enjoy one another’s company, parents are often in search of ways to keep these properties in the family. Before implementing such planning,…