Massachusetts residents should be aware of abuses taking place under guardianship and conservatorship arrangements. You may think you are unlikely to find yourself in this situation. However, according to Forbes, roughly 1 million to 2 million people in America are under conservatorship or guardianship.
Many people assume you need to create a will, trust and everything else associated with an estate plan when you are older. However, people in their 20s really need to have an estate plan just in case.
Preparing for the future is an important part of the life of Massachusetts residents, no matter how old. People work hard to amass wealth and property throughout their lives, and want that property disbursed properly after they die. Because death is often unexpected, how can they always be prepared for the unpredictable?
When a person becomes incapacitated in Massachusetts, he or she may have identified a health care proxy to make medical decisions. However, this agent does not have the authority to make financial decisions and take care of assets.
While every Massachusetts resident over the age of 18 should have an estate plan, there is even more reason for entrepreneurs to outline what should happen to their business assets after their death. One notable example is Prince.
When it comes to wills and estates, there are always people talking about probate. Probate gets a bad connotation because so many people talk about instances where it takes a long time and causes a lot of disruption. In reality, this is not true of most cases. It greatly helps to understand a little more about probate, so if you have a loved one who's estate will go to probate, you will then know what to expect.
When it comes to your health care, it is never too early to create a Massachusetts advance directive regarding the medical options you prefer. According to the American Bar Association, you should carefully consider each aspect of the directive before you put your health care choices in writing.