Benefits to Speaking With an Estate Planning Lawyer
Having an estate plan in Massachusetts is important for any adult in the state. While you might think that estate planning is just for older adults, it is critical for people of all ages. There are many different reasons why you need an estate plan, and we want to discuss five of them with you here.
1. You Want to Have Control Over How Your Assets are Distributed to Your Loved Ones
One of the most important reasons for having an estate plan is to have control over how your assets are distributed to your loved ones after your death. If you do not work with a Massachusetts estate planning lawyer to draft and execute a valid will or to establish a trust, your assets will pass according to Massachusetts intestacy laws. If you die without a will, you are said to die “intestate,” and Massachusetts law will determine how your assets are distributed. Even if you repeatedly tell your child or friend that you want them to have a particular asset of yours when you pass away, Massachusetts intestacy laws will ultimately make that determination if you do not have an estate plan.
2. You Do Not Want to Leave Family Member or Other Dependent Without Financial Options
If you do not work with an estate planning lawyer, your dependents ultimately may not get the financial support that you intended them to have. A will or a trust can ensure that your dependents have the support they need after your death.
3. You Want to Have Control Over Your Health Care
Estate planning includes creating a living will and naming a health care proxy. With a living will and a named health care proxy, you can be sure that you will continue to have control over your health care and important medical decisions about lifesaving treatment even if you are incapacitated and cannot voice those decisions yourself.
4. You Want to Prevent Your Loved Ones From Fighting Over Your Estate
If you do not have an estate plan, particularly an estate plan that includes a will and perhaps one or more trusts, your possessions will be distributed according to Massachusetts intestacy laws, as we discussed above. By having an estate plan and working with an experienced Massachusetts estate planning attorney, you can prevent your loved ones from fighting over your estate. Your lawyer can work with you to create a valid will so that there is not a contentious will contest upon your passing.
5. Estate Planning Can Give You Peace of Mind
Ultimately, knowing that you have an estate plan can give you peace of mind. Whether it is knowing that your assets will be distributed according to your wishes, or that your healthcare decisions will be respected even if you become incapacitated, working with an estate planning attorney can help to ease your concerns and give you a sense of security.
Contact Our Massachusetts Estate Planning Attorneys
It is critical for every adult in Massachusetts, regardless of age or socioeconomic position, to have an estate plan. As we have discussed above, if you do not have an estate plan, you may not have a say in how your assets are distributed to your family members, and you could end up receiving forms of health care to which you do not agree. Working with a dedicated Massachusetts estate planning attorney can give you the peace of mind you need. Contact the Law Office of Rachel M. Matos today for more information about estate planning in Massachusetts.