Much to our disappointment, we are not actually Batman and Robin. We do not have x-ray vision, we can’t fly and we also can’t shoot webs at people to stop them in their tracks. Unfortunately, a “Power of Attorney*” has nothing to do with having super hero powers; it does, however, allow people to help you in your time of need.

Most people think about a Power of Attorney only being active when you are unable to handle matters on your own; to the contrary, it can be used when you don’t want to handle matters on your own. Think about these typical situations:

1. You have a financial account but you partner, daughter or nephew is more financially savvy than you. If you give the financial institution your executed document and a quick verbal confirmation that the document is still active, they are able to engage in conversations or perform transactions on your behalf.**
2. Your child reaches the age of 18. If you were to call your child’s college or university to discuss something, even tuition payments, the administration has no obligation to talk with you. Similar to above, an executed Power of Attorney and quick confirmation will allow for communication to occur between you and the administration.
3. Selling a house. This situation is usually slightly different because a Limited Power of Attorney is typically used rather than a “durable” one. The limited version only allows the person to help you for specific purpose rather than a more broad ability. We routinely have our sellers sign a Limited Power of Attorney so that we can sign closing documents on their behalf.

As always, please let us know if you have any questions or concerns about this or any other matter.

Warm regards,
John & Faye

* This refers to a Durable Power of Attorney.
** This can also be accomplished by having the person listed as a co-owner of an account; however, once the person is a co-owner, they also have inheritance rights to that account.

ong, long ago, we were in a graduate school statistics class* as a precursor to beginning a Master’s thesis study. The most important take away from the class was understanding that how you manipulate numbers determines whether your hypothesis is supported or disproven. Whether by median, mode or average, we still love to look at data and determine how to best use it to our client’s advantage. We recently found some some statistics related to divorce** that we thought would be fun to share:

1. The divorce rate has dropped significantly over the years last 10-15 years. While it was previously thought that you had a 50% chance of getting a divorce, the current rate is thought to be around 39%. The reason for the decline could be due to so many things, including millennials getting married later or not at all.
2. Nevada continues to have the highest divorce rate in the United States. Apparently, what happens in Vegas does not stay in Vegas and regret does fit in a suitcase.
3. Massachusetts actually has one of the lower rates of divorce in the United States. It is thought that the divorce rate within the Commonwealth is approximately 2.6%; however, this statistic is slightly skewed because some states, including Georgia, Hawaii and Minnesota do not even report their statistics.
5. The global divorce rate has increased by 252% since the 1960’s. Russia is believed to have the highest divorce rate in the world; it seems reasonable that it will continue to maintain that top spot given the stress related to recent world events.
6. Second (and any thereafter) are more likely to fail than a first marriage. We often ponder if people who are married more than twice are really just hopeless romantics who aspire, but struggle to find ever lasting love.

“Picture this…Sicily…1922…”
–  Sophia Petrillo, Golden Girls

Fun fact: When we came up with the title of this newsletter, we were not thinking about the Golden Girls; however, as soon as the words were typed, we heard Estelle Getty’s voice and, literally, couldn’t stop laughing. Now the voice and the delivery of that infamous line will be stuck in your head, so YOU’RE WELCOME!

The actual reason for the title came from the priority and emphasis that one of our recent clients put on family pictures when creating her estate plan.  The woman did not have a lot of material possessions or financial assets, but wanted to make sure that what she did have was protected and would go where she intended.  She spent months finalizing her intentions.  To her daughter, her wedding ring. To a second daughter, her angles. To another child, some collectible dolls.  What struck us was the specificity of a gift that she gave to each person:  photographs of themselves with her.

At first, we were a bit surprised with the detail to which she gave the sharing of her photographs. More often than not, photographs are not mentioned and they go in the general pile of personal property to be distributed after death. She had already assembled envelopes with photographs therein, but also wanted her wishes known in writing.

We couldn’t help but think about what she was really gifting with the photographs: memories. Do people enjoy gifts of real estate, diamonds and artwork? Of course, but the items which are usually sought are the more sentimental things, like Caesar salad recipes, a homemade blanket or favorite candy dishes.  What most people really want when someone passes away is to preserve our memories of them and recollection of experiences that were shared.

When clients are pondering how to distribute assets, we typically recommend that their personal items go into a Letter of Attachment. The document sits on the side of the will and can be changed at leisure without the need for formal execution. We recommend that this is where people leave heartfelt messages, as well as those sentimental items.

In honor of our client,  who was a ray of sunshine, we leave you with a little Sophia to brighten your day:

Every four years, the Massachusetts Probate and Family Courts task force re-evaluates the child support guidelines to determine their effectiveness and what changes need to be made. Last fall, the court launched new guidelines which made the 2018 version extinct. Some of the notable changes can lead to a significant change for both the payor and the payee:1. The minimum order has decreased from $25 per week to between $12-20 per week. While the change may not seem significant, the relatively small difference can be profound for a parent who is already receiving such a minimal amount and trying to feed and clothe a child.2. By contrast, the maximum threshold for combined gross income to be used for calculations has increased from $250,000 to $400,000 per year. Depending on income level, the child support order can actually go up or down under the new guidelines even if the income used hasn’t changed.3. Guidelines now allow for an order up to 40% of payors income under circumstances. In cases where the guidelines suggest an order in excess of 40%, then there is an opportunity for court approved deviation from those guidelines.4. Orders which cover more than one child are generally higher than they would have been under the previous guidelines.5. Child care expenses are now more proportional based on the parents’ ability to pay for the first $355 per week per child.6. Social security benefits are now more defined. Under the 2021 guidelines, social security benefits and SSDI are now considered, especially if one of the parents are receiving benefits for one or more of the children.7. Additional income can now be used in calculation of child support. Generally speaking, the parties can now include any stock benefit, incentives and overtime when determining a party’s income. We expect that the courts will continue to look at three (3) years of history to determine if that income is an expectation or a one time event.As always, please feel free to reach out to us with any family law or other issues if we can be of help to you. Regards,John & Faye

 

Every four years, the Massachusetts Probate and Family Courts task force re-evaluates the child support guidelines to determine their effectiveness and what changes need to be made. Last fall, the court launched new guidelines which made the 2018 version extinct. Some of the notable changes can lead to a significant change for both the payor and the payee:

1. The minimum order has decreased from $25 per week to between $12-20 per week. While the change may not seem significant, the relatively small difference can be profound for a parent who is already receiving such a minimal amount and trying to feed and clothe a child.
2. By contrast, the maximum threshold for combined gross income to be used for calculations has increased from $250,000 to $400,000 per year. Depending on income level, the child support order can actually go up or down under the new guidelines even if the income used hasn’t changed.
3. Guidelines now allow for an order up to 40% of payors income under circumstances. In cases where the guidelines suggest an order in excess of 40%, then there is an opportunity for court approved deviation from those guidelines.
4. Orders which cover more than one child are generally higher than they would have been under the previous guidelines.
5. Child care expenses are now more proportional based on the parents’ ability to pay for the first $355 per week per child.
6. Social security benefits are now more defined. Under the 2021 guidelines, social security benefits and SSDI are now considered, especially if one of the parents are receiving benefits for one or more of the children.
7. Additional income can now be used in calculation of child support. Generally speaking, the parties can now include any stock benefit, incentives and overtime when determining a party’s income. We expect that the courts will continue to look at three (3) years of history to determine if that income is an expectation or a one time event.