Estate Planning Lawyers in Hanover, MA Helping Clients Secure Their Futures
Estate Planning generally consists of helping you to protect your rights and wishes in the event that you aren’t able to speak for yourself. If you become incapacitated, for example, and are no longer able to make necessary decisions for yourself or your family, who is then responsible for those decisions?
Most people have heard of having a will in place, but for some, having a health care proxy, being questioned about their estate tax, or wondering who will be their guardian can feel a little like speaking a foreign language. That’s ok and isn’t uncommon.
Having a plan in place, however, can help immensely in terms of preparing for unforeseeable circumstances and reducing the stress levels that are almost always present when it comes to your family and your financial future. Estate planning attorneys can help you specify what is to happen with your assets upon your death, detail your wishes in the event of a medical emergency, appoint a trusted guardian for elderly family members or children, and more.
O’Connor Family Law Firm is made up of a team of trusted and experienced attorneys that can help you form a plan that is specific to your needs. Contact us today at 774-214-2137 to get started.
What Are Items That My Estate Plan May Involve?
Each situation is different, and no two lives are the same. Having a few common topics covered, however, can not only ease your mind but position your family to have less stress in the event that something happens to you. As with most things, planning ahead is at times difficult to do, but it can save you and your family significant stress and, in most cases, money by having a well-defined plan in place. Below are some of the common topics of discussion when meeting with an Estate Planning attorney.
Trusts are a way to transfer your assets or property directly to a beneficiary, rather than having it held up in the probate process upon your death. In most cases, this can help your family to minimize estate taxes. Trusts can be active while you are living or become active upon your death.
Powers of Attorney are another important aspect of estate planning. In the event that you aren’t able to make decisions for yourself, appointing someone to make them for you within the scope that you have outlined can be invaluable.
ALast Will and Testament is another important document to have as a guide for your family at the time of your death. It’s the primary legal document that is recognized as a tool to direct the next steps for your property and assets and who is to inherit them. It also can name a guardian for your children or elderly relatives, specify where you would like to be buried, and more.
Having a Health Care Proxy can be beneficial to you and your family in many ways as well. Choosing someone to navigate health care choices on your behalf should you not be able to can alleviate stress on loved ones. Otherwise, they might beforced to choose without knowing what your wishes and desires are in the event of an emergency.
Guardianship covers things such as care for any children involved, or for you, in case you become incapacitated and need someone to care for you. If you are diagnosed with Alzheimer’s or dementia, for example, there are certain aspects of your life that you may no longer be able to handle alone. Having your specific wishes outlined if this should happen can help you and your loved ones feel more confident knowing your wishes and your best interests are known and will be followed.
Other topics that are specific to your situation may need to be discussed and documented as well, and an experienced estate planning attorney will have the knowledge to guide you in this process.
What Are the Benefits of Hiring an Estate Lawyer?
There are many reasons to plan ahead. It can feel unrealistic to plan for your future when none of us has a clear vision of what that can entail. Making sure your family is taken care of in the event of your death or if you aren’t able to make decisions anymore is important, however.
Most of us don’t have a law degree, and therefore the legal jargon involved in estate planning can be confusing and trying for those left behind to navigate your wishes. Having a trained attorney thoroughly educated in all things law helps you to spot issues or holes in your plan and correct them. You don’t have to know everything; you just have to have an idea of what your priorities are, specific to your family and other loved ones, and let an experienced attorney handle the rest.
Mistakes are easily made in this process, and they can have costly results. Inappropriately calculating taxes, for example, can mean there is less than intended left behind for the matters and the people that are important to you.
Planning during times of distress can make the entire process harder. Planning with a clear head prior to issues arising can allow for a more objective approach, resulting in a plan that is much closer to what your wishes truly are for all involved. You and your loved ones can also have peace of mind in an already trying time, knowing that what you wanted was honored.
Legal documents are not generally a “check-the-box” situation. While there are many options you can find online and fill out for yourself,in most cases, there are items specific to your life that aren’t going to be in a pre-made form, and therefore questions can arise. The documents and the plan are personal for a reason and should be customized with the help of legal counsel, so fewer items are left up in the air when the time comes.
Why Hire O’Connor Family Law?
O’Connor Family Law is a group of attorneys who are trained and well versed in all areas ofestate planning. Each person is different and so are their wishes. We are here to assist you in determining what those wishes are and specifying them for your loved ones so there are fewer questions left for them in the event of your death or incapacity. With multiple years of combined experience, we are confident in our ability to handle specific needs, allowing you to have confidence in your plans, as well. Call us today at 774-214-2137 to discuss how we can help you with all of your Estate Planning needs.