It's impossible to predict the future, but there are things a Massachusetts adult can do to make sure his or her long-term interests are secure. One of these things is thoughtful and thorough estate planning. Some assume this is not necessary because they are young or because they are not wealthy, but the reality is that planning for the future is smart for every adult at any stage of life.
The many benefits of estate planning at any stage of life
How will your executor handle the issue of estate taxes?
The executor or personal representative you choose to administer your estate after your death will have many responsibilities.
Diagnosis of brain disease may necessitate estate planning steps
Certain illnesses can progress to a point where a patient is no longer able to make decisions independently or express wishes regarding health care. This is one reason why estate planning is especially important for those in the earlier stages of degenerative brain diseases. Having plans in place can allow a Massachusetts adult to maintain control over his or her health care and have the final say over what happens to personal property.
Probate litigation: Mental capacity issues
If a Massachusetts resident wishes to execute an estate plan, he or she must be of sound mind. Probate litigation often involves heirs or beneficiaries who contest a will based upon evidence of the diminished mental capacity of the estate owner. There are several celebrity cases where such issues have been a central focus.
There is no time like the present for estate planning
One of the many reasons why a Massachusetts adult may delay making plans for the future is lack of time. Estate planning is easy to set aside when busy, young and healthy. However, global events have many people at home and spending more time together, which makes it an opportune time to start the estate planning process. To begin crafting a thoughtful plan for the future, it is helpful to consider what tools may be necessary for the individual situation.
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