The same reasons people need estate plans in the first place also means that periodically, it’s important to review your estate plan to make sure it still aligns with your needs, assets, and dependents. As you get further and further from that day you signed your estate plan, those goals, assets, and dependents might change, you must update your estate plan with these changes in mind as they come. In this blog, I’ll go over signs its time to talk to an estate planner and get your plans updated.
In Massachusetts, a will is a critical part of estate planning. The legacy of the person and their loved ones can be deeply affected by the quality and type of will. Before a will can be enacted, it must pass through probate. During this time, a badly written (or executed) will – or no will at all – can lead to stress and hardship as the court drags on between all parties. I want to share with you how to handle wills to avoid these issues.
Having a conversation around estate planning isn’t on the top of anyone small talk list, but it is crucial to your life plan. There are many different myths and misconceptions around estate planning, but here are some of the myths and misconceptions that my clients have approached me with more frequently.
While estate planning has no age attached to it – whether you are 21 or 65 – having an estate plan will only benefit you in the future. An estate plan will outline and see that your wishes are followed through when you’re not here to make he decisions such as your health, care for your children, and the distribution of your assets. Speaking with a professional estate planning attorney will help ease the stress and help answer questions you will have.
When you start estate planning as a young family, there tend to be some differences involved, especially if you have young children. You need to ensure that your family will be financially sound and that there is a plan for them if you were to pass away. It’s important as a younger family to have at least a basic estate plan in place, to guarantee your wishes for your children are carried out.
There are many decisions that need to be made when it comes to elder care, and one of the biggest is where you or your loved one will be living. There are many different factors that go into the decision-making process and I have broken down most of the steps and signs of when to move from long-term care to a nursing home or assisted living.
As the ones you love continue to get older, they will need constant care. Looking into a nursing facility or assisted living could be the best option for them to be provided with the care they need. However, the price of nursing facilities continues to rise, which is why many elders turn to Medicaid planning. Medicaid planning can be beneficial for everyone, better preparing the family for eldercare while protecting assets from Medicaid costs.
Having a child with a developmental disorder comes with a lot of future planning. Since your bundle of joy was little, you had to think about the “what ifs.” Planning for the future can be tough, but that’s where we can step in and assist with creating a plan. There are many different parts to planning especially additional estate planning and including a trust. Here is some information on what should go into crafting your planning.
As you or a loved one gets older, you realize how expensive health care can really be. It gets to be a handful with all the different forms to fill out and people that you need to speak on your behalf when it comes to medical decisions. Taking the time to meet with an elder law attorney to go over your health care proxy form and the questions you have will help ease the process.