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April 2015 Archives

Estate planning barriers to achieving asset protection

Many Massachusetts residents engage in estate planning to ensure that their family will receive their assets after death. However, if they are not careful, they could end up sabotaging their efforts. Understanding potential estate planning barriers to achieving asset protection might remove this risk.

Retirement planning should not neglect the probate process

Many Massachusetts residents look forward to retirement and make sure that they plan for it. However, they fail to plan for what comes after retirement -- the probate process. Moreover, retirement plans could be interrupted by an illness or accident. Failing to plan for either of these possibilities could lead to other problems in the future.

Careful financial inventory can help with estate administration

Careful planning when one is of sound mind and body can help to ensure that one's desires and intentions are properly carried out upon one's death. Organization of one's finances and assets ahead of time also benefits a person who becomes mentally or physically incapacitated and no longer able to govern his or her own estate. A professor of finance from a university outside of Massachusetts published a recent article about the benefits of taking a financial inventory for the purpose of future estate administration.

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