The First 90 Days After a Parent’s Diagnosis: Legal Steps Massachusetts Families Should Consider

Episode Summary: In this episode of Ducks in a Row, the Estate Planning Guide, Erin Nunes, a managing partner at Surprenant, Beneski, and Nunes, delves into the intricacies of estate planning. They discuss the critical importance of having a plan in place, especially after a parent's diagnosis that could lead to legal incapacitation. Erin explains common pitfalls Massachusetts families face, such as the risks of giving away assets too soon or adding children's names to property deeds. The episode highlights the benefits of using irrevocable trusts for asset protection and the nuances of the five-year lookback rule. Erin also provides insights into determining legal capacity for signing a power of attorney and the implications of guardianship and conservatorship. Listeners will gain valuable knowledge on safeguarding assets and ensuring their wishes are honored, making this episode a must-listen for anyone interested in estate planning. Key Timestamps: 00:01 – Introduction 00:54 – Importance of Estate Planning 01:50 – Common Mistakes in Asset Management 03:04 – Determining Legal Capacity 04:09 – Understanding the Five-Year Lookback Rule 05:36 – Risks of Adding Children's Names to Deeds 07:53 – Benefits of Irrevocable Trusts 08:56 – When to Consider Setting Up a Trust 09:26 – Guardianship and Conservatorship Explained 11:04 – Concerns About Power of Attorney 12:17 – Protecting Assets in Crisis Situations 13:15 – Massachusetts Laws and Asset Protection 14:13 – Final Thoughts on Estate Planning About the Show: Ducks in a Row, the Estate Planning Guide is a podcast dedicated to helping families in southeastern Massachusetts navigate the complexities of estate planning and elder law. Hosted by Lisa Mosbey, the show features insightful discussions with legal professionals like Erin Nunes, who provide clear, actionable advice on wills, trusts, and asset protection. With a focus on turning complex legal hurdles into proactive roadmaps, the series empowers listeners to plan for the future with confidence and clarity. Whether you're planning for yourself or your loved ones, this podcast is your go-to resource for understanding the nuances of estate planning.