Planning for Life

Maggie Lorenzo

Recent Posts

MassHealth Programs are Available to Help with the Cost of Care at Home

Posted by Maggie Lorenzo on June 19, 2013

By Patricia C. D'Agostino

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Topics: MassHealth, special needs planning, MassHealth planning

Why Pirates Wore Earrings

Posted by Maggie Lorenzo on February 13, 2013

By Nikki Marie Oliveira

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Topics: end-of-life, Estate Planning

What is a Life Estate and Why Would You Want One? - Massachusetts

Posted by Maggie Lorenzo on April 9, 2012

By Harry S. Margolis

What is a life estate?

            The term “life estate” refers to property that is owned by an individual only through the duration of his or her lifetime. Therefore, it’s always for an indefinite period of time.  We usually encounter life estates when dealing with real estate.  When you have a life estate, you are called the “life tenant.”  For example, you can sell or give your home to your children, but retain a “life estate,” thereby reserving the right to live in, use, enjoy, and control the home until you die.  Your children would be called the “remaindermen.”   

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Topics: long-term care planning, Estate Planning

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