Salem Lawyers Drafting Wills And Trusts

As a firm dedicated to estate planning work, Casey & Lundregan, P.C., provides legal tools for every situation. Estate plans are complicated and contain many parts. Essential components of most include durable powers of attorney, wills, revocable/irrevocable/suspended or special needs trusts, advance directives, health care proxies and HIPAA (Health Insurance Portability and Accountability Act) release forms.

Talk to the attorneys at Casey & Lundregan, P.C., when it is time to develop your will or to set up a trust. Call 978-224-8893 to get the information you need.

Will Creation

A will is a common estate planning document. It may contain information relating to the distribution of assets after a person dies. A will may also name caretakers for young children and other instructions that relate to child care to take effect if the parent or parents die.

The document contains other important information and instructions, too. For instance, a will needs to name the fiduciary responsible for fulfilling its terms. Once the will's creator dies, the personal representative of the will fulfills all instructions according to the law of probate.

Will creation is important even for the relatively young and healthy. If an accident were to happen, you risk having no influence over key decision-making when it comes to your money and property. In drafting wills, our Salem-based lawyers apply a meticulous attention to detail.

The Establishment Of A Trust

Trusts, including special needs trusts and what some call "living trusts," are important planning tools. A trust consists of a trustee (the person in charge of the designated assets like money or property) and the beneficiary (the person who literally enjoys the benefits of the trust assets). Trusts can be used in many ways, including to ensure that sufficient funds are available for retirement and to avoid the high cost of the probate process. Further, trusts can be an invaluable vehicle for avoiding estate taxes at your death and avoiding the financial devastation that a prolonged nursing home stay can cause.

A trust is a popular method of maintaining greater control over monetary and real estate assets. A person creates the trust while he or she is living, maintains control of it and is able to detail specific instructions well past the time of death.

The financial advantages and the controls offered through trusts make them invaluable estate planning tools.

Legal Guidance You Can Trust In Salem

The long-standing reputation for careful estate planning by the attorneys at Casey & Lundregan, P.C., is well-earned. Casey & Lundregan, P.C., attorneys will look at your goals and advise you regarding best courses of action. To talk with an attorney, contact us at 978-224-8893.