As we approach the end of the year, it’s a good time to think about updating your plan. This includes your entire plan, including Powers of Attorney. Powers of Attorney are part of even the simplest estate plan. A Power of Attorney allows your Agent to act for you. There are Powers of Attorney for financial matters and also those for health care. It’s important to consider whether you need to update either of these powers. Read on to learn more. … [Read more...] about Updating Your Plan: Powers of Attorney
Tax Planning for 2021
Planning is important for your income taxation during life as well as for any estate tax at death. Even though 2021 is just starting, it’s not too early to think about planning for whatever it may bring your way. … [Read more...] about Tax Planning for 2021
What Are the Advantages of a Revocable Trust?
Although a Last Will and Testament remains the most common estate planning document, a trust is not far behind in popularity. If you decide to add a trust to your estate plan, you will have to decide which type of trust to create. A Woburn trust attorney at Legacy Care Law Firm explains some of the many advantages to revocable trusts. Trust Fundamentals A trust is a relationship whereby property is held by one party for the benefit of another. A Settlor (also referred to as a “Grantor” or … [Read more...] about What Are the Advantages of a Revocable Trust?
Who Should Be My Executor?
When most people contemplate the creation of their Last Will and Testament, they focus on decisions related to the gifts they will make within that Will. Consequently, appointing someone as the Executor of their estate is often an afterthought. In fact, failing to give sufficient thought to the choice of an Executor is one of the most common of all estate planning mistakes. To help you avoid making that mistake, a North Andover estate planning attorney at Legacy Care Law Firm offers tips on how … [Read more...] about Who Should Be My Executor?
What You Can Do to Prepare for Your Estate Planning Consultation
If you are among the millions of Americans who has yet to create and estate plan, doing so now may make you may feel a little intimidated. You may be concerned about what you need to do to prepare if you have made an appointment with an estate planning attorney. To help put you at ease, and to make the most out of your appointment, the Nashua estate planning attorneys at Legacy Care Law Firm give you ideas for how to prepare for your estate planning consultation. Define Your Goals When you … [Read more...] about What You Can Do to Prepare for Your Estate Planning Consultation
Where Should I Keep My Estate Planning Documents?
The documents that make up your comprehensive estate plan will likely be among the most important documents you create during your lifetime. Once those documents are prepared and ready to be utilized, what should you do with them? Where should they be kept until needed? The North Andover estate planning attorneys at Legacy Care Law Firm discuss where you should keep your estate planning documents once your plan is in place. Should Your Documents Be Stored in a Safety Deposit Box? In many … [Read more...] about Where Should I Keep My Estate Planning Documents?
Top 5 Mistakes to Avoid When Creating Your Will
A Last Will and Testament will likely be the first estate planning document you create. Although the concept of a Will is rather straight-forward, that doesn’t prevent mistakes from being made during the creation of a Will. To help prevent you from making them, the Salem estate planning attorneys at Legacy Care Law Firm discuss the top five mistakes you should avoid when creating your Last Will and Testament. Contact Salem Estate Planning Attorneys If you have additional questions, … [Read more...] about Top 5 Mistakes to Avoid When Creating Your Will
The Danger in DIY Estate Planning Documents
You undoubtedly understand the importance of having at least a rudimentary estate plan in place. If you have yet to start your plan despite knowing how important it is to have one, you may be tempted to turn to “Do-It-Yourself” forms found on the internet to save yourself time and money getting your plan started. The Woburn estate planning attorneys at Legacy Care Law Firm explain why using DIY estate planning forms will likely cost you, your estate, and your loved ones considerably more time … [Read more...] about The Danger in DIY Estate Planning Documents
Shrunken Asset Values Open Estate Planning Opportunities
COVID-19, the novel coronavirus, has been a challenge confronting countries around the world. Not only has COVID-19 been challenging healthcare systems, but the social distancing required to combat the virus has also rocked financial markets. However, there may be an opportunity for those wishing to do certain types of Estate Planning. Read on to learn more. … [Read more...] about Shrunken Asset Values Open Estate Planning Opportunities
Salem Estate Planning Facts
If you are among the millions of Americans who do not have an estate plan in place yet, there is no time like the present to get started. To provide some encouragement, the Salem estate planning attorneys at Legacy Care Law Firm explain ten important estate planning facts. Every adult can benefit from an estate plan. You should not wait until you reach a desired net worth and/or until you have a family to start estate planning. You should already have a plan in place when you reach these life … [Read more...] about Salem Estate Planning Facts
