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September 2016 Archives

Not enough people engage in long-term health care planning

The chance of a Massachusetts resident age 65 or older needing to move into a nursing home is 50 percent. Even so, long-term health care planning is not something that enough people think about. Without it, a person's retirement and other assets could be drained quickly.

It is not a good idea to go through the probate process alone

Everyone wants to save money where they can. For many people, that means doing things themselves. There are many projects that Massachusetts residents can do with little to no repercussions that will not cost them as much as bringing in a professional. However, that philosophy often does not apply to legal issues such as the probate process. Attempting to go it alone could result in costly mistakes that could be even more expensive to fix.

Review is an important part of estate planning

Many Massachusetts residents have executed the necessary documentation to provide for their families after they pass away. They might believe that their job is done once the documents are signed. However, estate planning that is done at a particular time in a person's life might need to be modified as the years pass and circumstances change.

What Massachusetts residents should know about wills

The one thing that everyone can count on is that no one lives forever. Nevertheless, most people are not comfortable contemplating their own deaths, so they do not have wills and other estate-planning documents in place. Even though the individual might not be around to suffer the consequences of failing to plan, his or her family will be. 

What happens to digital assets upon death?

Nearly every Massachusetts resident has some sort of online account whether personal, financial or professional. Many people bank online, have social media accounts and keep their digital photos online. As the law attempts to catch up to the digital revolution that seems to be taking place, people need to take steps to ensure that their digital assets are part of their estate plans so they can be dealt with by family members after death.