With the median age of most Swampscott, Massachusetts residents being in the mid-40s, planning for retirement and estate administration needs are of growing importance. Contrary to what you may believe, estate planning is vital for everyone to consider, regardless of your age or level of wealth.
Verbally sharing your wishes with family members or relying on the state of Massachusetts to divide your assets can be a recipe for disaster, delaying distribution to your loved ones—or preventing that distribution altogether. Having a comprehensive estate plan in place ensures your wishes will be followed in the event of your death or incapacitation.
At Family Estate Planning Law Group, our highly experienced team helps clients create a plan to care for their loved ones in the event of death or incapacitation. Discussing end-of-life issues can be uncomfortable, but our estate planning team puts you at ease, making the process much less stressful. Knowing your loved ones will receive the assets you want them to receive after your death can bring peace of mind for you—and for them.
Why Do I Need an Estate Plan?
A comprehensive estate plan can protect your assets, property, and vulnerable family members in the event of your death. Whether you have a significant level of wealth, want to ensure your minor children are protected, or want a plan in place in the event you were to become incapacitated, we can help.
Here at Family Estate Planning Law Group we provide an extensive array of estate planning-related legal services that assist in creating a legacy that is multi-generational. Our team of estate planning attorneys can assist you in numerous asset protection strategies while safeguarding your family from unnecessary burdens in the following areas:
- Special needs planning
- Estate tax planning
- Probate, Estate and Trust administration services
- Funeral cost planning
- Long-term care facility decision-making
- Asset protection for Medicaid eligibility
- Business succession planning
Proper planning of your estate is more than simply filling out a few documents with an attorney. Swampscott families interested in creating a lasting legacy need to work with an experienced estate planning attorney to assess assets, retirement plans, and family situations. Doing this will ensure that all aspects of your wishes are addressed, including unforeseen events that may leave you incapacitated.
Why Appointing a Legal Guardian for Your Child is Crucial
As parents, we plan to be present in the lives of our children for a very long time. From a fun day at Beach Bluff Park to sending them off to college, we don’t want to imagine the unexpected taking us away when they need us most. It is essential to have a plan in place in the event of your death or incapacitation. By doing so, you ensure that your children will continue to be cared for and financially provided for as you would choose. Choosing a legal guardian for your child, as part of a comprehensive estate plan, will ensure he or she receives the physical, emotional, financial, and educational support needed to provide for their well-being and success in life, even in your absence.
The Importance of Choosing the Right Trustees for Your Plan
Choosing who will be in charge of handling the affairs of your trust in the event of your death is a challenging decision. There are many factors to consider, including the current relationship you have with family members and the financial situation you leave behind.
You need to pick an individual who can carry out the required duties of a Trustee as smoothly and quickly as possible. Some of their responsibilities will include:
- Paying outstanding bills, funeral costs, and taxes, out of the trust assets
- Preparing and filing income taxes on behalf of your trust
- Gathering the values of your assets at the time of your death for an estate tax return
- Notifying government programs and agencies like Social Security of your passing
- Opening any additional accounts needed to distribute assets to your beneficiaries according to your wishes
- Ensuring distribution of your assets to those specified in your estate plan
This level of responsibility requires that you choose a candidate that is reliable, trustworthy, honest, and organized.
How is FEPLG Unique?
If you or a senior loved one needs to start the process of estate planning, we here at Family Estate Planning Law Group are available to help you begin this process, creating a customized plan for your needs. Our firm has helped residents of Swampscott and surrounding areas for the past three decades.
Our years of combined experience across numerous areas of estate planning and elder law make us the ideal choice as a partner to help you protect your assets and create a legacy that will last for many generations to come. When you choose FEPLG to guide you through the estate planning process, you will quickly discover we have a wide range of unique services to achieve the maximum estate planning results.
The FEPLG team has some very unique offerings that set us apart from other estate planning firms. We begin with our complimentary consultation. During this meeting, we will answer any questions you may have, and ask some of our own to get to know you and your unique needs and wishes. We want to assess your goals for the future, your level of assets, and how you want your assets distributed. If you become a client, you will benefit from our SAVeT™ System that includes:
- Simplify/Consolidation—The key to SAVeT™ is simplification. We help you consolidate your assets prior to your asset alignment meeting. When you have fewer overall assets, there is a decreased chance of probate, along with an overall more efficient estate plan.
- Align—Assets will be aligned with your estate plan, including such things as beneficiary designations, Powers of Attorney, and more.
- Verify—Alignment is verified with institutions to prevent any surprises.
- Track—Finally, we will continually track your assets to ensure alignment and verification stay current. Laws change, rules of institutions change, assets change, and your life will change. We ensure alignment and verification remain stable throughout.
If appropriate for you and your situation, we will include our Family Care Meeting®. This meeting will include our team and can include your loved ones, family members, helpers, beneficiaries, Trustees, and financial advisors. Our team will facilitate the conversation, answering any questions. The Family Care Meeting™ is a good opportunity to open up lines of communication, ensuring there are no unpleasant surprises following your death. We have a deep, abiding commitment to our firm’s tagline—Together We Plan for Life®.
Start Planning with Trusted Swampscott Estate Planning Attorneys
Are you ready to learn more about how our experienced team of estate planning attorneys can help protect your family and assets in the event of your death? Contact us today to schedule an initial consultation with our team.
We will show you how our SAVeT™ System approach can benefit your estate planning, and how our ongoing client care program ensures your estate plan stays current. We want to help you provide a lasting legacy for those you leave behind. Visit our website and check out our helpful blog to learn more about FEPLG and our team members who are ready to guide you through this process.