It is easy to sit around and shoot the breeze about favorite movies, the Red Sox, Boston’s best restaurants and so on. It can be more difficult to sit down with your spouse or other members of your family to discuss estate planning.
When asked to take on an important role, many Massachusetts residents feel honored. This feeling of honor may especially be present if a loved one asks an individual to play a vital part in making important decisions on his or her behalf. Often, people will appoint family members to make such choices as part of their health care planning.
Many people want to make sure that their elderly loved ones receive the necessary care. While some Massachusetts residents may want to be able to provide the care personally, that is not always a feasible arrangement. Because of this possibility, it is wise for individuals to carry out health care planning.
As individuals age, it is common for new and differing ailments to crop up. In some cases, the issues may be relatively minor at first, but as more problems arise, it can prove more difficult for Massachusetts residents to live on their own or to care for themselves. Typically, long-term care is needed. Because of this possibility, health care planning is often wise.
Most Massachusetts residents want their parents around for as long as possible. Of course, the older parents get, the more likely it is that they will face serious health issues. Estate planning can help in this situation if parents decide early how they want their care handled and paid for. However, many people do not take advantage of this planning, and adult children may be left shouldering the responsibility of care.
Planning for the future is an important and somewhat daunting task. Many Massachusetts residents begin the estate planning process without truly knowing where to begin or what they will need. Some people believe that a will is all that they will need, but there are a number of situations that are not covered by a simple will.
People typically do not want to think about what their lives would be like if they were incapacitated and unable to make their own decisions, but many could benefit from considering the possibility. Massachusetts residents, as well as others across the country, who are learning more about health care planning might be unaware of how many options they have available to them. Some might believe that a will is all that they need, but then they eventually discover that they could also benefit from setting up a power of attorney or an advanced directive.
Many children wonder what will happen as their parents grow older. Some Massachusetts residents have been given powers of attorney over their parents but are unsure of how to proceed. Many people question whether they should have a joint account with their parent or parents to ensure that bills are paid on time. Like many things, there are both advantages and disadvantages to sharing a joint account, especially if that person is the original account holder's child.
If a couple in Massachusetts files for divorce, they would do well to remember to update their wills or any other estate plans that they may have. Estate planning can take time, and some divorcing couples may be concerned with what may happen if they are incapacitated during the divorce process. Updating these plans as soon as possible can help each individual to maintain control over his or her assets and ensure that he or she has a trusted individual in place to make financial or health care decisions if needed.
Many Massachusetts residents who are creating an estate plan for the first time may be surprised by the number of steps involved or by the variety of options available to them. Some may believe that they only need to be concerned with creating a will, but health care planning can also be very important. Those who have long-term health concerns may be more likely to set up a health care power of attorney because appointing one of these individuals can help to prevent many problems before they begin.