Sowerby & Moustakis Law > Articles by: Peter Moustakis

Horses and Divorce

Unfortunately, there is no way to guarantee that a horse will be awarded to a certain spouse upon a divorce. However there are a number of things a person can do to increase his or her chances in being awarded the horse upon a divorce. Some kind of an agreement between the spouses at the […]

Annual Communication and Update System: What can I do after I complete my Estate Plan?

It is often recommended that a person reviews his or her Will or Estate Plan at least periodically, or as circumstances change. Below are some circumstances which may occur in a person’s life that can warrant a consideration of updating a Will or Estate Plan: A change in marital status A change in health status […]

Managing Someone’s Assets

There are a number of ways in which a person may manage the assets of another. The choice will depend on the type and value of the assets, and whether the person for whom they are being managed is competent or incompetent. If circumstances change, the form of management may be modified. Throughout this document, […]

Tricky Items To Inherit

People often hold a number of different assets or property when they pass away. Some assets are trickier to pass down to the next generation than others. Here is a list of some of the trickier items to pass down: Vacation homes Artwork Guns Airline miles Pets Retirement accounts Items with copyrights attached to them […]

The ‘I Love You’ Will: Be careful, it could lead to a broken heart!

An ‘I love you will’ is a phrase used in estate planning to describe a Will where each spouse gives their assets to each other upon death, and then to their children. A shortsighted affair – It is simple and straightforward to set up You can appoint a Guardian for Minor Children You can make […]

What’s New for 2022?

Update In The Law In 2022 the federal gift, estate and Generation Skipping Transfer tax applicable exclusion amounts will increase to $12.06 million per person ($24.12 million for a married couple). It is important to note that there is a sunset provision on this tax plan which means that in 2025 the above taxes will […]

Durable Power of Attorney: Benefits and Concerns

A Durable Power of Attorney is a legal instrument by which a person, as the principal, appoints another person to serve as his or her agent. A benefit the Durable Power of Attorney has is that it gives the agent authority to perform specific acts on behalf of the principal, such as the power to […]

6 Considerations When Purchasing a Horse

  Purchasing a horse can be an expensive and life changing undertaking. A horse is a huge responsibility and in some ways more complicated than acquiring any other pet. Below are some considerations when purchasing a horse: 1. Contact a Veterinarian. A veterinarian should be contacted and requested to perform a pre-purchase examination of any […]

Estate Planning Is Not Just For Mom And Dad Anymore

Creating a will or trust is something we usually expect our parents to do. When we are in our 20’s, it can feel like we’re too young to have to worry about what happens to our stuff when we are gone, because we barely have any stuff to give away. As we get past our […]

Options for Closing an Estate in Massachusetts

If a person dies with assets in his or her own name, then the family needs to go through probate so that title to the assets can be properly transferred to the rightful heirs. But once the probate is opened, the personal representative needs to determine how to properly close down the estate when there […]