Massachusetts residents frequently hear that they should have an estate plan. However, some may not be aware of why it is important. Wills, trusts and other estate planning documents provide an individual and his or her family with numerous benefits.
Having an estate plan takes the guesswork out of what to do if an individual becomes incapacitated or passes away. Family members can receive clear instructions on how to care for a person should he or she not be able to make crucial healthcare and financial decisions through powers of attorney and advance care directives. Wills and trusts outline how assets are to be distributed upon death.