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Posts tagged "Wills"

Wills, trusts and other documents important for estate plans

Planning for the settling of one's final affairs takes a considerable amount of effort. Massachusetts residents will need to go over several documents, such as wills and trusts, that they may want to use in their estate plans. They will also need to consider including other information in their plans that could make their wishes for various aspects known.

Estate planning tools can help with asset protection

Having something to pass on to loved ones is often desired. Many Massachusetts residents may consider the assets they have, wonder who would want them and how they could make sure that they are still available to pass on. Fortunately, estate planning can prove immensely useful when it comes to asset protection and making distribution designations.

Even disorganized people need wills

Many Massachusetts residents may not consider themselves the most organized people. For now, their disarray may not cause them much issue, but in the event of their deaths, disorganization could cause a significant number of issues for family members. Because of this possibility, it is often wise for even the most disorganized people to attempt to get their wills and other estate planning documents in order.

Estate planning discussion may help family understand wishes

There are many times in life when families need to have discussions that will not always go easily or as planned. One topic that some Massachusetts families may not easily discuss is estate planning. Adult children may not want to think about their parents' eventual demises, and parents may worry about children will react to their end-of-life wishes. Nonetheless, it is important to have this conversation.

Knowledge and updates can help with asset protection

For some Massachusetts residents, ensuring that their loved ones will be taken care of after their passing is an important goal. Often, this desire means that individuals may need to take part in asset protection. Fortunately, many aspects of estate planning can help parties make sure that they understand their assets and account for various changes.

Wills may be challenged over testamentary capacity

In many cases, people can put off estate planning until it is too late. Even if a person is still alive, his or her mental capacity may have declined to a point at which sound decisions are no longer possible. As a result, wills created after this point will likely not be considered valid when it comes time to probate Massachusetts estates.

Wills, other planning documents can benefit business owners

Small business owners in Massachusetts and elsewhere have a number of variants to consider when starting and running their companies. While a business plan can help address many important aspects, they may also want to consider having an estate plan. Wills and other end-of-life documents can help business owners detail how they want their companies' affairs handled after their passing.

The validity of cell phone wills

Many people don't know where they would be on a daily basis without their cell phones. These small devices have become an integral part of many people's lives in Massachusetts as well as most other states across the country. It isn't unusual for people to keep personal or important information on their phones, such as bank or credit card apps and accounts, but some people have even started keeping wills on their cell phones

What happens when people die without wills?

Creating an estate plan is something that many people are guilty of putting off. A significant number of these people, including many Massachusetts residents, may believe that they do not need one until they achieve a certain amount of wealth. However, anyone can benefit from creating a will. Family members or other potential beneficiaries of people who die without written wills may find it difficult to receive their rightful inheritance.

Including cryptocurrency in wills

Online assets are becoming more common as technology advances.What happens to cryptocurrency, like bitcoin and ethereum, after the account holder dies? In Massachusetts and elsewhere these currencies can be included in wills, but what other steps might be necessary for heirs to redeem them?