Prepare Your Estate With These Estate Planning Essentials
There are many resources that are available to protect the fruits of your labor once you are no longer responsible over them. We at Casey & Lundregan, P.C., can help you utilize these important tools for protecting your future:
- Trusts: A trust will appoint a third party, known as a trustee, who is responsible for managing the specified assets for the beneficiaries that you have also designated. A trust is an excellent way to ensure that your heirs receive their inheritance at the proper time, rather than when they can’t manage those funds on their own. We believe trusts are one of the most necessary elements of an estate plan as they can often accomplish most of your financial goals on their own and save your family the time and high costs of probate and estate taxes.
- Wills: This important document allows you to be able to specify how your loved ones divide your property and who looks after your children once you have passed. By setting your wishes in stone, you earn the peace of mind that you have taken care of those who survive you.
- Powers of attorney (POA): It is critical to choose someone to act as your POA to make critical decisions on your behalf when you are incapable of doing so on your own. You can also determine the circumstances of when you grant the POA as well.
- Guardianships: A guardianship is necessary when a loved one cannot take care of themselves on a day-to-day basis and to establish the guardianship of a child. In either case, an experienced lawyer can help you navigate through the legal maze ahead of you.
- Health care proxy: In Massachusetts, a health care proxy can make serious decisions on your behalf, like a POA. However, these proxies can make health care-related decisions only.
Do Not Overlook Any Facet Of Your Future
If you are looking to plan your estate in the Salem area, let us help you make the hard decisions. It is never too early to plan for your future. You can contact us for a free consultation at 978-224-8893 or toll-free at 800-785-3588.