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March 2013 Archives

The struggles that young people face with extreme wealth

When people in Massachusetts are developing an estate plan that involves setting up a trust, they likely intend to do so in order to benefit their children, grandchildren and generations to come. They likely assume that the money they are setting aside for them in a trust will help them achieve financial stability and security. However, a growing trend among young people highlights a flaw in this line of thought.

Study: Most people have inadequate end-of-life care plans

We often discuss some difficult topics in this blog. People do not necessarily like to or want to think about what will happen to them and their estates after they are gone and many people avoid making appropriate plans. Some folks in Massachusetts decide that there is already enough to worry about with the stresses of a career, finances and a family so they put off unpleasant tasks, including long-term care planning. However, neglecting to deal with this issue can end up having a very serious impact on everyone around you.

Challenges of long-term care planning and skilled-nursing care

As our loved ones get older, the reality is that many of them will need increasing levels of medical assistance. The stress of coping with these changes emotionally can be difficult enough for families in Massachusetts. Add in the confusing paperwork, the rigid restrictions of certain care programs and the high costs of certain levels of care and it can all be too much for a spouse or family member to handle.

A conservatorship can be a crucial part of estate planning

It is often a challenge for people to come to terms with the fact that they need to put together an estate plan. Some people do not think they need one or they may find it too difficult to make plans for their assets in the event of their death. While it may not be an enjoyable experience, developing an estate plan in place can make an enormous difference for the loved ones and family members who are also involved.