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603-894-4141 | 978-969-0331 | LegacyCareLaw.com December 2025 It’s Not About the Money How to Make Sure Precious Heirlooms Keep Families Together
When people come into my office to talk about estate planning, most expect the conversation to be about bank accounts, property, or investments. And, yes, those things matter, but I’ve learned that the real landmines most likely to tear a family apart are often not the “big-ticket” items. It’s the heirlooms. The quilt that lived on the back of grandma’s sofa. The set of spoons that three generations of hands have polished. The photograph that always hung in the hallway. These things might not carry much monetary value, but they hold emotional weight that can feel immeasurable. I’ve seen siblings go to court over heirlooms that, on paper, are not worth more than a few dollars. But to them, those items represent memories, identity, and love. And when a plan isn’t clear, it becomes easy for people to fall into the trap of saying, “Well, Mom told me I could have this,” while another insists, “Actually, she promised it to me.” What follows isn’t just a dispute over an object, but a fracture in relationships that can sometimes last a lifetime. That’s why, whenever I sit down with a client, I emphasize not overlooking sentimental items. People often come prepared with lists of accounts and deeds but forget the things that truly live at the
heart of family stories. Those overlooked pieces — the well-worn piano, the wedding ring, the rocking chair — can create the deepest wounds if left unaddressed. The solution isn’t complicated, but it does require intention. A legal plan should always specify how sentimental property is distributed. And in some families, I’ve seen people go a step further, leaving behind letters or notes that explain the reasoning behind their decisions. Legally, those notes might not carry weight, but emotionally? They can make all the difference. Imagine a daughter learning that she inherited her mother’s teapot not by chance, but because they always shared tea together on rainy afternoons. That small explanation transforms a potential dispute into a cherished memory. At its core, estate planning is about peace of mind, not only for the person creating the plan but also for those left behind. The goal is to ensure families don’t spend their time in conflict after a loved one is gone. For families who get along, a thoughtful plan preserves that harmony. For families already navigating tension, it helps prevent new wounds. So, when you think about your estate, don’t just focus on the tangible wealth. Inventory your life’s belongings, even the seemingly ordinary things. Ask your loved ones what matters most to them, and their answers might surprise you. Often, the smallest items carry the most significant meaning. The truth is that heirlooms aren’t just “things.” They are stories, legacies, and living reminders of those who came before us. Taking the time to plan for them with clarity and compassion ensures those stories continue, unbroken, in the hands of the next generation. And in the end, that’s what estate planning is really about, passing on not just what you had, but who you are.
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Keep More in the Family
Reduce Taxes With Strategic Gifting
Leverage trusts for smarter transfers. Qualified Personal Residence Trusts (QPRTs): Transfer your home to a trust while retaining the right to live there for a set term. The gift’s taxable value is reduced thanks to the IRS’s calculation of your retained interest, meaning you minimize the use of your exclusion and remove future appreciation from your estate. Just be sure to outlive the term to reap the benefits. Intrafamily Loans: Loan money to loved ones at the IRS’s minimum applicable rate (when interest rates are low). If assets purchased with those funds appreciate, that growth shifts out of your estate and no gifting is required (unless you later forgive the loan). “Gifting isn’t just financially savvy; it’s personal, philanthropic, and full of upsides for both giver and receiver.” Explore upstream gifting. If your parents or grandparents have estates far smaller than yours, you might gift appreciated assets upstream, allowing them to hold and later pass the assets down with a useful step- up in basis that reduces capital gains tax for future generations. Avoid estate inclusion with life insurance planning. Putting a life insurance policy into an Irrevocable Life Insurance Trust (ILIT) can remove it from your estate so the death benefit passes tax-free to beneficiaries. But watch out for the IRS’s three-year rule: Gifting the policy within three years of your death will bring the full value back into your estate. A great workaround is to have the ILIT purchase the policy outright. Gifting isn’t just financially savvy; it’s personal, philanthropic, and full of upsides for both giver and receiver. Thoughtful planning now lets your legacy grow, live on, and stay largely intact.
When planning your legacy, gifting during your lifetime is thoughtful and strategic. Not only do your loved ones receive an early boost, but you may also shield more of your estate from federal taxes. Let’s break down six smart, actionable, and strategic ways across all states. Tap the annual gift tax exclusion. Every year, you can gift up to $19,000 per person (or $38,000 if married filing jointly) without trimming into your lifetime exemption or filing a gift-tax return. The best part is you can repeat it and share the love with an unlimited number of people. Over time, that’s a significant aggregation of tax-free transfers. Use your lifetime exemption. In 2025, the lifetime exemption is at $13.99 million per individual (and nearly $28 million for couples). In July 2025, Congress made the exemption amount permanent, so speculation about it dropping to half in 2026 has been laid to rest. In fact, the lifetime gift and estate tax exemption will increase to $15 million ($30 million per couple) on Jan. 1, 2026. Make direct payments that don’t count as gifts. You can pay unlimited amounts directly to medical providers or educational institutions for someone else’s benefit. These payments bypass the annual exclusion and the lifetime exemption limits, making them powerful and clean ways to help without tax consequences.
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Protect Your Assets from Nursing Home Costs. Avoid Probate Fees and Frustration. Minimize Death Taxes.
LEARN ABOUT ESTATE PLANNING FROM OUR ATTORNEYS
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In mid-June 1942, 11-year-old Mary Evelyn Briggs and 12-year-old Edna Marie Hydel were sound asleep in their room within the Our Lady of Victories convent. Mary Evelyn woke up to a nightmarish sight. “I saw the figure of a kinda short, fat man bending over me with something shiny in his hand, and he was fooling with my hair. When he saw me open my eyes, he said, ‘Shhh.’ I yelled, and he jumped out the window,” stated Mary Evelyn. Although the two girls were unharmed, Mary Evelyn started the next morning with fewer inches of hair. Shortly after, 6-year-old Carol Peattie woke up to find somebody had chopped her hair while she slept. The only evidence left behind was a cut screen window and a sandy footprint. Before the end of June, an adult fell victim to the phantom barber while she slept beside her husband. During this time, the suspicion that the barber was using chloroform to keep his victims still started to spread. Local businesses and law enforcement offered a reward of $400 (about $8,000 today) for information that would lead to the “barber’s” arrest. Earlier in the month, an intruder with a lead pipe had attacked a couple in their home. Police theorized the barber was behind the attack, giving them a serious crime to work with. They would go on to arrest 57-year- old William A. Dolan, an individual the community detested due to his pro-German views. He stood trial, was found guilty, and sentenced to 10 years in prison. He maintained his innocence throughout his life and was released early after passing a lie detector test.
The Hair- Cutting Intruder Who Terrorized a Town
The Disturbing Tale of the Phantom Barber
Few things in life are scarier than knowing someone has broken into your home. In an instant, your sanctuary has been violated, and you worry about a return appearance in which they could steal from you or even harm you. During the early 1940s, the community in Pascagoula, Mississippi, was terrorized by a mysterious home intruder who was not after the wealth or health of the locals. Instead, this person was after something we always keep close to us.
The Phantom Barber effectively disappeared after Dolan’s arrest, never to silently cut the hair of unsuspecting people again.
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9 Red Roof Lane, Salem, NH 03079 603-894-4141 | 978-969-0331 LegacyCareLaw.com INSIDE THIS ISSUE
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The Overlooked Step in Estate Planning That Changes Everything
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Smart Gifting Moves to Protect Your Legacy
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The Legend of the Phantom Barber
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The Hidden Price Tag on Clutter
We’ve all been there: staring at a closet full of clothes and thinking, “I have nothing to wear.” Or paying rent for a bigger apartment just to store things we barely use. Clutter isn’t just a space problem; it’s a money problem. Every unused subscription silently chips away at your finances. The good news is that minimalism offers a way out. Far from being about deprivation, it’s about reclaiming control of your space, spending, and savings. The Hidden Price of ‘Stuff’ Every purchase comes with two price tags: the sticker price and the hidden costs. That $50 gadget isn’t just $50; it might also mean higher credit card interest if you’re carrying debt, or another box in the attic eating up storage space. The more we accumulate, the more we pay to maintain, store, clean, and eventually replace those items. That’s where minimalism comes in. It forces us to ask: “Do I really need this, or is it just clutter in disguise?” Quality Over Quantity Minimalism doesn’t mean buying nothing. Instead, it’s about buying better. One high-quality pair of shoes can last for years, while three cheap pairs wear out quickly and cost more in the long run. Choosing durability and timeless designs over impulse buys protects your wallet and reduces waste. Simplifying Finances Clutter can even creep into your bank account. Old subscriptions, overlapping accounts, and unused memberships all nibble away at your budget. By canceling what you don’t use How Minimalism Can Save You Thousands THE COST OF CLUTTER
and streamlining your finances, you save money and reduce the mental load of tracking your bills. Downsizing Expenses One of the biggest financial wins of minimalism comes from downsizing. A smaller home or apartment doesn’t just mean lower rent or mortgage; it also slashes utilities, maintenance, insurance, and even property taxes. More Space for What Matters A clutter-free environment frees up mental bandwidth. With fewer distractions, you can focus on what truly matters: building a side hustle, nurturing relationships, or enjoying a calmer, more intentional life.
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