The Probate Court has published a short general information discussion for Guardians. Here's a link to their discussion:
As Attorney Golden explained, you will be filing annual care plans for your aunt's Guardianship. You can download the annual report forms from the Court's website:
Another factor to consider is the lower monthly amount that Social Security will pay to workers who retire "early." "Normal retirement age" is no longer 65. To determine normal retirement age, go to:
Understanding that disability is not a problem for you, many people who can no longer work due to disability decide to retire "early" without realizing they can protect their full retirement amount by proving disability. Information on this is at:...
You might change your conclusion after reading the Department of Revenue's Guide to Estate Taxes. There are several steps to get to the bottom line. It would be worthwhile to hire an estate settlement professional to take responsibility for your case.
A Guide to Estate Taxes (Applicable to dates of death on or after January 1, 2003)
Your question shows you have done your research on the principal residence exclusion. As a widow, the tax laws gave you two years after death of your spouse to take advantage of the full $500,000 exclusions.
But the principal residence exclusion would only cover 1/4 of the property, right? Your accountant will know the answer to that. There are so many other factors you are thinking about. Do your children want to take on responsibility for ownership of a multi family? Can you show them...
Massachusetts does consider the transfer of an elder's home to be a "permissible transfer" when the elder has received necessary care from a child for a two year period. Here is the regulation:
130 CMR 520.019(D)(6)(d): the nursing-facility resident’s child (other than the child described in 130 CMR 520.019(D)(6)(b)) who was living in the nursing-facility resident’s home for at least two years immediately before the date of the nursing-facility resident’s admission to the institution, and...
An Executor is the person responsible for managing an estate.
A Trustee is the person who is responsible for managing the assets in a Trust.
Your question raises many more questions that a Massachusetts attorney who works with Probate and Trust law could answer.
The first step is to obtain and read the Trust document, and your father's Will.
You can read more about settling an estate at
Links to Probate Court information...
The Probate Court has posted a form for expansion of powers of a Guardian or Conservator at:
The form includes a check box for admission to a nursing facility.
There is an article on Guardianship, with links to other resources and forms at:
Consulting with an elder law attorney can provide you with much...
On what grounds would you object to the appointment of the person named in the will to serve as executor? You would have to list reasons for objections in the written affidavit. An article discussing common objections is posted at:
Do you have standing to object to the will and the appointment of the executor? You could save yourself time and money by consulting an exeperienced probate attorney in your area.
John L. Roberts -...
Your question indicates a concern over changes in your aunt's estate plan and appointment of an executor, close in time to your aunt's passing. The legal grounds for contesting a will are summarized in an article posted here:
Your question did not give details about ownership of the real estate. By consulting with a probate attorney, you can learn who has an interest in title to the real estate.
John L. Roberts - Elder Law,...
MGL Ch 191, Section 13. A person having custody of a will, other than a register of probate, shall, within thirty days after notice of the death of the testator, deliver such will into the probate court having jurisdiction of the probate thereof, or to the executors named in the will, who shall themselves deliver it into such court within said time; and if a person neglects without reasonable cause so to deliver a will, after being duly cited for that purpose by such court, he may be committed...