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Estate Planning Archives

Terminal illness and estate planning

Some people set up an estate plan when they are in good health and are not aware of any major health concerns. However, others may decide to create a will or a trust when they discover that they have a terminal illness. Whether someone is diagnosed with late-stage cancer or another illness that threatens their life, this can be an overwhelming and emotionally devastating position to be in. People struggling with a terminal illness may have many questions and a lot of uncertainty about their future, their assets and how this illness will affect those they love. Fortunately, estate plans can offer peace of mind and security.

Estate planning and post-traumatic stress disorder

Those who struggle with post-traumatic stress disorder (PTSD) may face many challenges in daily life. Whether someone has difficulty in the workplace or in their personal relationships, PTSD can be very difficult to deal with. Moreover, this can carry over into other facets of one life. For example, someone may have high levels of anxiety and be hesitant to set up an estate plan even though doing so would be in their best interests. Fortunately, creating an estate plan may be helpful for some people who struggle with PTSD and other mental health challenges by creating a sense of security.

Estate planning concerns following divorce

This may go without saying, but getting divorced in Wakefield is by no means easy. Even after the conclusion of your divorce proceedings, there still may be much to do. Think about just how involved in your life your now ex-spouse truly was. It is likely that their names are still associated with your bank records, insurance policies, utility accounts and much, much more. While you may have had time since your initial separation to literally separate yourselves from them in your common financial affairs, one area that many in your position forget to revisit is your estate planning. This leads to many coming to us here at the Curley Law Firm, LLP concerned that their ex-spouse's may still be in a position to inherit their assets. 

When life gets in the way of estate planning

On a daily basis, many people experience high levels of stress, uncertainty and negative emotions. There are many reasons why these challenges arise, from a complicated divorce to problems at work and the consequences of an injury. Unfortunately, this can hold people back in other ways and may cause them to push off crucial estate planning responsibilities that need to be taken care of. For example, someone may postpone setting up an estate plan because of hardships they are facing, or they may neglect to revise their estate plan even though critical changes are necessary.

Stress over setting up an estate plan

Estate planning can offer a number of benefits, many of which have been discussed on this blog. For some people, however, creating an estate plan can also result in stress. For example, some people may be unfamiliar with the steps that will need to be taken when creating an estate plan, and others may be unsure of which estate plan will serve them best and how to divide their assets among loved ones. These are just some of the estate planning matters that can generate stress, but tackling these concerns appropriately can reduce negative feelings and even lead to a sense of relief.

What should you consider while making your health care directive?

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.

Millennials: estate planning is for you

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.

Discussing estate taxes with family members

Estate planning brings up diverse issues for people to consider whether they set up a trust or a will. Naming beneficiaries, the likelihood of a probate dispute and even figuring out which estate plan makes the most sense are all challenges that some people have faced. However, you may also want to talk to your loved ones about various tax issues related to your estate plan. This is a critical aspect of estate planning that should not be overlooked since the tax implications of an estate plan can be significant.