An estate plan should be aligned with your goals as of today, but flexible enough to be adaptable in the future. You can start the estate planning process by thinking about the assets you own and the liabilities you would owe when you pass away, but you also need to ask important ‘what if’ questions…. Read More »
Posts Categorized: Estate Planning
April 16th Is National Healthcare Decisions Day. Is Your Massachusetts Estate Plan Ready?
In Massachusetts, as in many other states, you have the opportunity to document specific wishes regarding your healthcare decisions. You may choose to appoint someone else as your healthcare agent in Massachusetts. This helps you to take control of your health care decisions in the event that you are unable to make these decisions for… Read More »
Spring Cleaning: Your Estate Plan
At the top of your spring-cleaning list should be thinking about ways to clean up your estate plan. If it’s been some time since you first sat down with a knowledgeable estate planning attorney and drafted a plan and the documents that helped to guide your most important decisions and the transfer of your assets,… Read More »
Why Is End of Life Planning So Important?
As you contemplate the concept of your estate plan, you may think mostly about how to pass on the assets you’ve accumulated during your life to your loved ones. This can include considerations around taxes, who is most responsible for receiving lump sum benefits and who may need additional control, such as assets placed inside… Read More »
What Is a Health Care Proxy?
There are many different terms used in relation to the estate planning and incapacity planning process. You may create these documents by working with a qualified estate planning attorney. As people age, their health care needs shift and may increase. By 2040, the number of Americans who are aged 65 and above will increase to… Read More »
Two Important Annual Tasks to Support Your Estate Plan and Your Overall Finances
Every year, you should look at your overall financial picture while you begin to gather your documents and materials for filing your taxes. Completing these two tasks earlier on in the year often amounts to better tax efficiency. Working with your financial advisor, any other financial team members like your CPA, and your estate planning… Read More »
Seven Things to Review as You Create Your Estate Plan
Many different factors should be discussed and considered during the process of creating your personal estate plan. Creating your estate plan is critical for future and financial planning for you, your family members and any other beneficiaries who may receive assets in the future. Estate planning is a combination of thinking about what happens to… Read More »
What Documents Do Elderly Parents Need in Their Estate Plan?
People of all ages can benefit from creating an estate plan. If you are helping your elderly parents document their wishes, it is important to consider the documents that may be most relevant for doing this. A knowledgeable estate planning attorney can help you to discuss these. Estate Plan Basics: Trusts One option is a… Read More »
Unintended Consequences of Poor Power of Attorney Planning
All too often, it seems like the simplest solution to creating your estate plan is turning online to download paperwork. However, it is all too often the case that problems can arise with either a health care or durable financial power of attorney. If these documents are not prepared or executed correctly and you lose… Read More »
Is Estate Planning Flexible?
Most people who have not done their estate planning yet have plenty of questions about how the process works and what this means for them. One question you may be asking is whether or not your estate plan is flexible. What Causes Changes in Estate Plans? You may be concerned about establishing a plan now… Read More »