As your elderly loved ones age, they may begin to have difficulty managing their finances. When coupled with memory problems, your aging loved one may be an easy target for abuse. By knowing what signs to look for, you can help protect them from financial exploitation.
Three red flags of financial elder abuse
A look at some of the benefits of guardianship
If you are trying to decide whether or not becoming a guardian is the right move, it is vital to carefully go over the details of your loved one's circumstances and review the benefits of guardianship. Whether the person in question is a young child or an elderly individual, there are a variety of advantages that often come with guardianship and you might be able to find peace of mind knowing that you have done what you can to provide them with the support they need. In Wakefield and other Massachusetts cities, people might struggle with the idea of becoming a guardian at first, but later on they might find that the arrangement allows them to make a major difference in their loved one's life.
When problems arise with beneficiaries
If you are creating an estate plan, many hurdles may come up. However, handling challenges that involve beneficiaries can be especially difficult. Whether you are having a hard time naming beneficiaries and are not sure how to divide your assets or an argument arises over decisions you have made involving your will or trust, our law office is all too familiar with the different hurdles that people across Massachusetts sometimes have to work through when they are setting up an estate plan.
Divorce and your estate plan
Many different life changes can have an impact on your estate plan, such as the loss of a loved one or significant financial changes. However, divorce is an especially difficult issue for many people to work through, especially with regard to their estate plan. Ending your marriage can affect your life in all sorts of ways, whether you find yourself in a child custody dispute or are unsure of how property will be divided between you and your spouse. To make things more complicated, some people are unsure of which changes they should make to their estate plan, whether they have a trust or will.
How do you avoid probate?
A primary question people ask as they get older is: How do you keep the probate process from mangling your estate?
Taking a look at express trusts
With trusts, there are many different types of terms that you may need to familiarize yourself with. For example, you may want to find out more about the differences between revocable and irrevocable trusts or go over some of your different options. However, it may also be helpful for you to examine how express trusts and non-express trusts differ. Across the state of Massachusetts, it is important for those creating a trust to develop a clearer understanding of the trust-related issues they are facing.
Setting up a special needs trust
Legal issues related to trusts take many forms, whether you are in the process of setting up an estate plan or are having trouble naming beneficiaries. Moreover, there are all sorts of different trusts that people create and our law office knows how crucial it is for people in Wakefield and across all of Massachusetts to move forward with these matters properly. If you are considering creating a special needs trust for a beneficiary who is mentally ill or disabled, you should find answers to any questions that you have.
LGBT couples face many challenges in estate planning
Same-sex couples have faced a myriad of challenges through the decades, and one of them includes estate planning.
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