An estate plan is something that everyone needs, but most people don’t want to talk about. That’s because it deals with an uncomfortable subject: death. For that reason, it can be especially hard to suggest that someone else such as a parent or a spouse needs an estate plan.
Why a will isn't enough to protect your estate
Many Massachusetts residents mistakenly believe that all they need is a will in order to protect their assets and property when they die. However, even with a valid will, the probate administration process still must take place, which is a long, expensive and public court proceeding.
Conflicts of interest in will drafting
All lawyers in Massachusetts must follow the Massachusetts Rules of Professional Conduct, which provide the standards for legal ethics and professional responsibility.
Young, wealthy and without an estate plan
In the past, most people didn’t earn a significant income until well into their 40s or 50s. However, today we have plenty of young entrepreneurs who have made millions before becoming middle-aged, thanks to the tech industry.
