When you have a person in your family with special needs, you may be wondering what needs to be done so that you can set up a trust fund on his or her behalf. Your choosing to be proactive in starting a fund in Massachusetts will help provide stability and comfort for your loved one in the event you become unable to care for him or her.
Even though your estate plan is centered on your desires and how you would like your life's accomplishments to be distributed, you are not the only person who your plan will affect. At Curley Law Firm LLP, we have significant experience helping people in Massachusetts to create a customized estate plan.
There are certain laws in Massachusetts that allow each individual adult to make his or her own healthcare decisions. However, there may be circumstances in which people are unable to make or communicate what they would like. A health proxy can help in these situations.
Aside from a loved one passing away or possibly the divorce process, estate planning issues can be one of the most emotionally intense topics for families. In some instances, the emotional impact of an estate plan can be very difficult for certain family members, whether they become angry with their family member’s decisions. On the other hand, setting up an estate plan can also be a major source of relief and a cause for celebration for an entire family. Those who are creating or making revisions to an estate plan should consider the emotional impact that their decisions may have on their family members.
For a lot of people, creating an estate plan (or making important revisions) can be tough for a number of reasons. In some instances, there are other difficulties which make the estate planning process more complex, such as conflict in the family. For example, siblings may be involved in a heated, long-term rivalry, and your estate plan could be at the heart of the dispute. Or, you may be unsure of how to address these conflicts with respect to your estate plan, whether you are unsure of how to distribute your assets or who to leave in charge of your estate.
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.
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.
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.
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.
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.