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August 2016 Archives

Designing wills to combat disgruntled heirs and beneficiaries

No matter how hard a Massachusetts resident tries, there is always the possibility that an heir or beneficiary will not be happy with an inheritance -- or the lack of one. That person could file a will contest with the probate court, which could delay the distribution of the estate and cost it additional monies that could otherwise be distributed. That is why it is important to design and update wills in order to forestall the potential for those who are disgruntled to cause problems after a family member passes away.

Guardianships protect people, but also affect their rights

Through illness, accident or disability, many Massachusetts residents are no longer able to care for themselves or their property. In these cases, family members or other trusted individuals might seek guardianships in order to take care of the incapacitated person (often referred to as the ward). However, the decision to do so should not be taken lightly since many of the ward's rights are taken away in the process.

Estate planning is necessary for asset protection

Tax authorities and creditors are the two primary threats to the value of an estate in Massachusetts. Thankfully, however, a certain amount of asset protection can be achieved through proper estate planning. Taking the appropriate steps prior to death can help ensure that an individual's heirs and beneficiaries receive the maximum benefit from the estate.

Estate planning can help with asset protection when remarrying

Many Massachusetts residents are fortunate enough to find love more than once in their lives. One of the challenges that these individuals could encounter as they start their new lives is to find a way to provide for children from a prior marriage while also taking care of a new spouse after death. Estate planning can help with asset protection for both when remarrying.