You want to make sure your client's financial goals are secured not only in life but also after with comprehensive estate planning. Beyond wills and trusts, this involves equipping them with essential documents like powers of attorney for property and healthcare. Understanding state-specific estate laws is crucial for effectively guiding clients through the complexities of planning for incapacitation and death. In this blog, we will discover how these essential tools can safeguard your clients' wishes and assets for a secure future. We will also discuss who needs an estate plan. Hint, it is everyone!
Planning For Your Future
Estate planning is essential for anyone who wants to ensure their wishes are followed, and their assets are protected after their death. While many focus on financial goals like funding education, supporting family, and saving for retirement, they often overlook estate planning. However, it’s important for everyone, particularly those who want their estate distributed according to their preferences rather than default laws. Estate planning is also crucial for people with significant assets to reduce estate taxes, those who want to set up financial support for their descendants, and individuals looking to provide responsible assistance to their families.
Should I Have A Will Or Trust?
When it comes to distributing property after death, individuals typically choose between a will or a trust. Without either, state laws will determine the distribution, potentially conflicting with the deceased’s wishes, and a court will appoint a guardian for any minor children. A will requires a probate process, which can last over six months, subjecting costs, and may face challenges that delay distributions. In contrast, a trust avoids probate entirely, with the trustee managing and distributing the property according to the trust’s terms, thus reducing delays and minimizing the risk of disputes. Choosing a responsible trustee and understanding these options are essential aspects of effective estate planning.
Trusted Estate Planning With Attorney Bucklin In Greater Boston
Estate planning is essential for making sure your assets are distributed according to your wishes and that your loved ones are cared for after your death. Without a will or trust, state laws will decide how your property is divided, which may not align with your desires and could lead to delays, especially if a court needs to appoint a guardian for minor children. That is why you need to put your trust in Attorney Andrew Bucklin. Andrew has a strong track record of success in creating and maintaining your custom estate plan. To discuss your future and make sure your loved ones are protected, please fill out our contact form or call us at 781-632-8675.
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