There may be many individuals in Massachusetts and elsewhere who place a high level of importance on planning for the future. However, when it comes to making plans for what happens after one is gone, the process may appear somewhat more intimidating. There are also certain myths about estate planning that may create unnecessary hesitation, and debunking these misconceptions could prove essential to making informed decisions.
There may be a multitude of single parents in Massachusetts and elsewhere who consider it vital to have a plan in place to protect the needs of their children. While certain scenarios could be difficult to think about, having a strategy concerning how to provide for the kids in the event a death occurs could prove imperative. Single parents who wish to implement such a strategy could consider setting up a trust, but many may be unaware of the potential benefits this estate planning tool can offer.
Estate planning can be complicated if you're married because you and your spouse may not agree on how you should split up your assets.
You know that writing a will and creating an estate plan can help your heirs, and it can in this way help you in the future. However, you will be gone when your estate plan actually goes into action, so it's easy to think that you're really doing all of this planning for someone else.
Do you feel like you have spent your life encouraging your heirs to take certain actions and helping them become the best that they can be? Do you want to keep doing that after you pass away?