5 Benefits Of Planning With An Attorney

Many people hear the word “estate” and think, “That’s not me, I don’t have an estate.” But what is an estate? An estate is everything you own, both tangible things such as your house and car, and all of your accounts. Anyone who has a home and a full-time job, or who is retired, has an estate.

At Center for Elder Law & Estate Planning, we know that if you’ve never worked with an attorney before, you may not know what to expect. Some processes, such as creating a will, power of attorney or health care proxy, are often very quick and can be done in one meeting. Other processes, such as trusts, can take a little longer and may need two or three meetings. Whatever your need, we are here to help you.

Why Does Anyone Need A Plan?

If you download a will, fill it out and file in your desk, you are taking a chance as it may not comply with Massachusetts state law. The risk with using a “universal” will is that it may not be valid when the time comes for it to be needed. Estate planning requires knowledge of the law, skill in preparation and experience in anticipating obstacles and therefore avoiding potential issues. Having a will on file with an estate planning attorney ensures that there is an official copy.

Setting Your Goals And Making A Plan

There are many advantages to having a will that spells out who should raise your minor children, who should make health care decisions for you, and the type of care you want and do not want to receive. Wills also detail “who gets what” after you die. But there are other benefits to planning now for the future.

By planning now, you are able to:

  1. Make sure your assets go to right person or place after your death.
  2. Avoid the delays and cost of probate court.
  3. Plan for any estate taxes to optimize the value of your property and investments.
  4. Avoid Massachusetts probate which is public so your estate and family remain private.
  5. Preserve your assets in the event of going to a nursing home or skilled care facility.

Creating a valid will or trust that provides these benefits is a highly technical process. When you work with us, we go over each of your accounts (your IRA, 401(k), pension, investments, checking, savings and any insurance policies, for example) to ensure that they have a designated beneficiary. This is one step in avoiding the probate process.

We also set up trusts so that you can avoid Massachusetts probate and shelter your estate from estate taxes whenever possible. We can also ensure that loved ones who are not able to live independently are provided for with a special needs trust.

Get Solid Advice And Caring Counsel

At Center for Elder Law & Estate Planning, we know that it can be difficult to think and talk about what will happen after you die. But the best legacy you can leave for your family and loved ones is a clear, solid estate plan that lays out exactly what you want to happen. We can help. Call 339-499-4306 and set up a free consultation. You can also reach us online. Serving the greater Boston and eastern Massachusetts areas for over 30 years.