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October 2015 Archives

Creating a revocable or irrevocable trust for pets

In 2011, Massachusetts recognized that its residents care about their pets as if they were members of their families by passing a law allowing people to create trusts for their pets' care after their deaths or incapacitation. A beloved pet could end up in a shelter or even die of starvation if no arrangements are made in advance. Creating a revocable or irrevocable trust for a pet is a way to circumvent that eventuality.

Powers of attorney are an essential estate planning tool

It can be easy for Massachusetts residents to forget that estate planning is not just about transferring property to family and friends upon death. Some documents are executed that put plans into place in case you are unable to make decisions and/or care for yourself during life. Powers of attorney are important for any adult since none of us knows when an accident or illness may strike.

Some Massachusetts residents include wills in their estate plans

Typically, in various aspects of life, there are always some people who tend to procrastinate. If the situation at-hand is minor and considered unimportant, it doesn't necessarily mean that the person who is putting off whatever it is he or she needs to do will suffer adverse consequences. However, there are certain issues that can be crucial for Massachusetts residents and others, and continuing to place them on a back burner, so-to-speak, can have negative effects somewhere down the line. Creating an estate plan, documenting wills and considering the best means for asset protection in one's life are among matters that are best addressed in good time.

Heath Ledger's death illustrates the need to update wills

Fatal accidents and illnesses are unpredictable. Even young Massachusetts adults could fall victim to them at any time, which makes the need for wills and other estate planning documents crucial, no matter the age of an adult. The news media underscores this point every time they report that a celebrity has died.

The benefits of a special needs trust for Massachusetts families

Most Massachusetts parents use estate planning to provide for their children after they pass away. If you are a couple with a special needs child, providing for him or her may take on a greater significance. Using a special needs trust to achieve that goal has numerous benefits for your child.