There is one subject that can put a damper on estate planning: the concept of taxes. Estate taxes vary significantly from one state to the next, so you need to be certain you understand what you need to do when you live in Massachusetts.
You have just started planning your estate and are working through one of the many steps of coordinating a well-rounded plan. One of the things you will need to arrange is guardianship of underage children that you may have. At Curley Law Firm LLP, we have helped many families in Massachusetts to manage the details of coordinating guardianship.
Sometimes situations may arise for you, as a parent in Massachusetts, which prevent you from taking care of your child. When such circumstances arise, the court intervenes in order to place your child in the care of a competent guardian as long as is necessary, whether it be on a short-term basis or until the child comes of age.
If you are like many people under the age of 40 in Massachusetts, you might think that a will or a trust is not something you need to think about at this point in your life. This belief is not actually wise or accurate for a couple of reasons. First, people can and do die at ages younger than what most consider to be a normal lifespan. A premature death can be caused by either an accident or an illness. Additionally, estate planning can help you take care of yourself, your estate and your family if you are still alive but become unable to manage your affairs on your own.