Arlington Community Education

With both humor and knowledge, two local attorneys and estate planning specialists will address the fundamentals of estate planning.

Essentials: We all have assets that will pass to loved ones at the time of our death. Estate planning is not just for the wealthy—or the old. We will start with incapacity planning (appointing someone you trust to manage your finances and health care decision-making if you cannot) and explain the health care proxy, advance directive, and power of attorney. Learn how to keep your assets out of probate court, with its costs and delays. We will demystify trusts: explaining what they are, how they work, and how they protect assets, reduce taxes, and simplify administration. Then we’ll unpack the new Massachusetts estate tax law and show you how to reduce the “death tax,” often by as much as $150,000 to $300,000.

Advanced Concepts: This class builds on the foundational concepts covered in Estate Planning Essentials. We will take a deeper dive into incapacity planning with real-life stories from the trenches. We then tackle your possessions and what to do with your social media accounts. Take a deeper dive into tax planning and charitable giving. Explore the difference between a revocable and irrevocable trust, as well as problems with trusts and how to avoid them. We close with thoughtful gifting ideas to make a difference in the lives of loved ones.

Prepare for Long-Term Care: This class builds on the foundational concepts of Estate Planning Essentials. As we get older, many of us wrestle with important questions: Do I want to age in my current home or move to a new living environment? What will my health needs require? What can I afford? What resources are available to me to help accomplish these goals? This class will focus on leveraging both human and financial resources to provide for your best possible life and care. Learn about various long-term care strategies and the pros and cons of each. We will discuss reliance on family members for care needs, reverse mortgages, long-term care insurance, public benefits through MassHealth, various estate planning techniques (using wills, trusts, and lifetime gifting), protecting assets for children and other heirs, and pulling together a team of advisors to help you navigate your long-term care goals.