Estate Planning and Future Healthcare Planning in Massachusetts Law

Though many people have the notion that estate planning is only for the rich, anyone who has earned money and done a good job of investing it can benefit from careful estate planning. Without a comprehensive estate plan, all the things that you have worked so hard for can be lost or given to unintended beneficiaries. Since estate law varies from state to state, it is wise to consult with an attorney well-versed in Massachusetts law to make a solid plan for the future of your assets.

There are many ways to protect your assets for those you love by means of an effective estate plan. Your attorney can help you draft a will in which you can specify how your assets should be distributed at the time of your death.  Wills can also designate legal guardians for your children in the event they are still minors or are incompetent. Funeral and burial requests can also be included.  A Massachusetts attorney can help you draft a will that will stand even in the event that someone should contest the will in court.

Other documents may also be a part of a comprehensive estate plan. A living trust may be drafted which may help to decrease estate tax costs and various delays of probate.  Regarding estate taxes, your attorney can work with you to ensure that your loved ones reap the benefits of your hard work in their behalf.

Certain small business owners may also profit much from estate planning. Documents pertaining to buy-sell arrangements with business partners can be drafted to handle the assets of any business you own at the time of your demise.

When consulting with an attorney about estate matters, some people use the opportunity to also discuss other important documents such as powers of attorney, advanced health care directives, and living wills.  In an effort to make clear their wishes regarding end-of-life decisions, many people have their attorneys draw up documents precisely stating their wishes regarding medical treatments in the event that they are suffering from an incurable or irreversible medical condition.  Such documents can greatly affect the families involved. Proper legal aid to draft advance health directives correctly is essential to ensure that your wishes are honored in the unfortunate event that you are unable to state your wishes at a future time.

In addition, a lawyer can draft a power of attorney document for you. In this document, you can specify who you want to look after your affairs that are not specifically health-care related. For instance, you can give someone whom you trust the ability to transact financial matters for you if you are unable to handle them alone.

Though it may be unpleasant to consider becoming incapacitated or dying, it can be of great comfort to know that your affairs are in order, that your wishes will be honored, and that your loved ones will be cared for.  If you would like help with estate planning in Massachusetts, please contact an attorney to discuss your wishes.