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POSTED ON: October 5, 2020. The Pros and Cons of a Life Estate Deed in Massachusetts. The Pros and Cons of a Life Estate Deed in Massachusetts. For most, our home is our most valuable asset, yet few people understand the legal principles that govern the ownership of real 413-525-5600 or justin@jrmccarthy.com.

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Five Things I Would Never Do as an Estate Planning Lawyer One of the most attractive features of a life estate deed is that it allows property to transfer outside of probate. This means the property is Life Estates are a great tool to streamline estate plans and reduce assets to qualify medicaid long-term care. But some states have

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Massachusetts Real Estate Exam 2024 (100 Questions with Explained Answers) Many Massachusetts homeowners use “life estate” deeds for different reasons. Some use them as a general estate planning tool. Others frequently use them as a By executing a life estate deed, the property avoids probate at the parents' deaths, is protected from a MassHealth lien, and receives a step-up in tax basis.

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