Yes, it usually starts with either you or your spouse suggesting that with the accumulation of assets, house, or retirement funds, that it might be the right time to find an estate planner. Asset Protection in Massachusetts is of extreme importance:-
you need to go ahead with planning a living will now because after all future is pretty unpredictable. Well, this means, you have typically quite a bit ahead of you hence you need to start working on that right now. And this is when you should ponder on legal ways of estate protection and Asset Protection in Massachusetts.
So, what’s a revocable Trust in Massachusetts? To avoid the costs and delays associated with probate, you may opt to put your assets into a revocable living trust. Usually, you name themselves as ‘trustee’, and name the family member or friend as a co-trustee and once the trust is created, you can actually transfer title to all your assets to the trust.
Better Estate Planning in Massachusetts includes the following:-
1. Pour Over Will
2. Revocable Living Trust
3. Durable Power of Attorney for Health Care,
4. Durable Power of Attorney on Financial Matters
Asset Protection involves a combination of legal structures, which creates the ultimate barriers between your wealth and potential threats. The objective is to minimize the risk of potential liability and preserve your assets. The strategic plan may include the formation of a limited liability corporation (LLC), a family limited partnership (FLP), a Domestic Asset Protection Trust (DAPT) or an Offshore Asset Protection Trust (OAPT).
Yes, it goes without saying that finally when you pass you have an array of things to leave behind. And in case of the absence of Living will and living trust or in absence of your planned asset planning or estate protection most of your things would be sold, at auction, and your family may not be able to keep things which are important to them.
And this is no FUN and you should not let your family go through this. Basically with a Trust in Massachusetts you can actually ensure that you loved one will get the things that you want them to have. Well, the logic is pretty clear – if you have anything valuable that you want to stay in the family, you need to put it in writing while you are planning a living will ir trying doing your estate planning in Massachusetts.
Tell me something, do you have property? do you have young children? Do you want to leave something to charity? Well, then think seriously about hiring the legal will writing.
This content has been taken from: http://www.amazines.com/article_detail_new.cfm/4420343?articleid=4420343
you need to go ahead with planning a living will now because after all future is pretty unpredictable. Well, this means, you have typically quite a bit ahead of you hence you need to start working on that right now. And this is when you should ponder on legal ways of estate protection and Asset Protection in Massachusetts.
So, what’s a revocable Trust in Massachusetts? To avoid the costs and delays associated with probate, you may opt to put your assets into a revocable living trust. Usually, you name themselves as ‘trustee’, and name the family member or friend as a co-trustee and once the trust is created, you can actually transfer title to all your assets to the trust.
Better Estate Planning in Massachusetts includes the following:-
1. Pour Over Will
2. Revocable Living Trust
3. Durable Power of Attorney for Health Care,
4. Durable Power of Attorney on Financial Matters
Asset Protection involves a combination of legal structures, which creates the ultimate barriers between your wealth and potential threats. The objective is to minimize the risk of potential liability and preserve your assets. The strategic plan may include the formation of a limited liability corporation (LLC), a family limited partnership (FLP), a Domestic Asset Protection Trust (DAPT) or an Offshore Asset Protection Trust (OAPT).
Yes, it goes without saying that finally when you pass you have an array of things to leave behind. And in case of the absence of Living will and living trust or in absence of your planned asset planning or estate protection most of your things would be sold, at auction, and your family may not be able to keep things which are important to them.
And this is no FUN and you should not let your family go through this. Basically with a Trust in Massachusetts you can actually ensure that you loved one will get the things that you want them to have. Well, the logic is pretty clear – if you have anything valuable that you want to stay in the family, you need to put it in writing while you are planning a living will ir trying doing your estate planning in Massachusetts.
Tell me something, do you have property? do you have young children? Do you want to leave something to charity? Well, then think seriously about hiring the legal will writing.
This content has been taken from: http://www.amazines.com/article_detail_new.cfm/4420343?articleid=4420343
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