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.
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.
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?
The family pet is, for many Massachusetts families, more than just a companion or living possession; these animals are members of the family. However, many owners are unsure of how to ensure that their beloved pets are taken care of after they are gone. Bequeathing money directly to a pet can often be problematic, but there are ways for pet owners to construct their wills in a way that protects and ensures the care of their pets.
Making an estate plan or writing a will can be difficult or confusing for many people. However, few people wonder what they should do when named as a beneficiary. People across the nation are bequeathed money or other assets through wills every day. In some cases, as some Massachusetts residents know, beneficiaries may not be expecting to receive anything from the deceased, and they may be unsure of what to do when they are named in a will.
Protecting loved ones and ensuring that assets are divided quickly and fairly after their deaths are major concerns for a large number of Massachusetts residents. Some will leave unofficial instructions or hope that other family members will be able to divide the assets that they left behind. Unfortunately, not leaving a last will and testament can cause family members of the deceased to have to undergo lengthy and expensive legal battles. Wills can help to protect an individual's assets and ensure that they are divided amongst the beneficiaries without additional legal costs.
Pets are valued members of many families across the country. In fact, there are many people living in Massachusetts, as well as many other states, who are including their pets in their wills. There are cases where owners have left thousands or even millions of dollars to their pets specifically for their care. This money is often used to pay for food, grooming and veterinary care.
There are many people who have difficulties creating an estate plan. Some are unsure of what they wish to include in their wills, and others know what they wish to include but are unsure of how to do so. Naming beneficiaries can be especially confusing for some. However, there are some tips that Massachusetts residents may find helpful when naming or changing beneficiaries.
Nearly everyone has a digital presence today. Technologies such as social media and email have made it possible for people from Massachusetts to Hawaii to stay connected to one another. Many people also have important documents stored online, or they use the internet to access financial accounts. Unfortunately, because technology is advancing so quickly, laws and other policies are often forced to play catch up. People are realizing that many asset protection laws or policies do not cover a significant portion of their digital assets.
It can be difficult for a person to decide how to divide his or her assets after death, but it can also be comforting to have a plan in place. However, after writing a will, it isn't unusual for some people to put the document away and not look at it again for several years. People living in Massachusetts, or any other state, may wish to dust off their wills and see if revisions are needed. Over the years, laws and tax codes have changed, and wills and estate plans may need to change with them in order to remain effective.