Estate Planning and Elder Law Attorneys Serving Wakefield, MA
Located in Middlesex County, about 12.5 miles north of downtown Boston, Wakefield was incorporated in 1812. With an estimated population approaching 30,000, many Wakefield activities center around Lake Quannapowitt. Originally known as Lynn Village, Wakefield was later incorporated as Reading.
The Rattan Works was established in 1856 by Cyrus Wakefield, later growing into the Wakefield Rattan Companies. Cyrus donated land and money for a new town hall, and the town’s name was changed to Wakefield. Today, Wakefield is a thriving town with a diverse culture, and adults in Wakefield have many of the same concerns regarding estate planning as those across the nation.
Estate Planning in Wakefield and Beyond
Estate planning in today’s chaotic world can seem like just another task we don’t have time to accomplish. While that is entirely understandable, it is important to take the time to consider the financial position your loved ones would be left in if you were to die or become incapacitated. It is hard to overstate the importance of a comprehensive estate plan that can leave a lasting legacy to your family members.
Although there are many things you can do yourself in this life, there are also some things that work best when done in partnership with an experience advisor. An estate plan is definitely one of those things. For the majority of us, a simple will is rarely sufficient, especially for those with more complex financial assets, those who own a business, those with young children, or those with a special needs family member to care for.
Further, even if you have a DIY will that might potentially work for where you are in your life right now—say young, with few assets and no dependents—life can change quickly. We get married, we have children, we divorce, loved ones die, we move, we start a business, we gain or lose assets. All of these things call for changes to your plan—changes you might not even realize are needed until it’s too late.
Alternatively, you can speak to a knowledgeable Family Estate Planning Law Group attorney who not only has a deep understanding of federal and state estate laws, but who will also take the time to determine what you need for your estate plan. In other words, we always go the extra mile to get to know you, your family, your needs, and your wishes. We offer many unique solutions to your estate planning needs, including Trusts, end-of-life directives, and much, much more.
As our client, you are our primary focus, from start to finish. We build solid relationships with our clients—you are never a quick transactional process at FEPLG. From our initial complimentary consultation to the SAVeT™ program, our Family Care Meeting™, and our ongoing client care program, you will quickly see the difference at FEPLG. We work hard to ensure your estate planning process is easy and comfortable for you from start to finish.
Learn More About Estate Planning That Changes With Your Life
Estate planning is NOT an event, it is a process. We have developed a unique system to help you simplify, providing a smoother overall process.
Strategies for Comprehensive Estate Planning
When you first meet with the FEPLG estate planning team, we will begin creating an estate plan tailored specifically to you. Perhaps you could benefit from a multi-generational Trust that will benefit your family for many years to come. Or, perhaps you are most interested in avoiding probate and ensuring all your assets are properly distributed to those you choose.
You may wonder what would happen if you were to become incapacitated—who would handle your financial and medical affairs? Who would make decisions on your behalf? Or maybe you have a business you are concerned about. Whether a family business, a partnership, a sole proprietorship, or any other type of business structure, FEPLG professionals can provide guidance to help you determine and implement how the business will continue after you are gone.
For many, a trust—usually a revocable living trust—can be a helpful tool in estate planning. When assets are properly aligned to it, a trust can be a comprehensive solution to avoiding probate while maintaining your family’s privacy and saving time and money. When you choose a revocable living trust, you, as trustee, will retain full control over your assets and you can use them as you see fit. If the worry is your creditors or those of your beneficiaries taking the estate assets, you might consider an irrevocable trust. While an irrevocable trust cannot be altered as a revocable living trust can, it does have certain other benefits.
You might also consider a health care proxy—a legal document that lets you appoint a person of your choice to make healthcare decisions on your behalf in the event you become incapacitated. The decisions made by the person named in your health care proxy could include life-sustaining and life-saving procedures.
A living will is not a replacement for a health care proxy in the state of Massachusetts. When having a health care proxy prepared, think carefully about the person you choose to make these decisions on your behalf—it should be a person whom you trust and have spoken to about your wishes. You may be most interested in a business succession plan, or you may want to know how you can protect your assets without sacrificing Medicaid or Medicare eligibility.
Finally, you may need a basic last will and testament. If you have young children and need to name a guardian for them, you definitely need a will in addition to your trust and other estate planning documents. You do not want to leave your children without a guardian, as the court will step in and name a person you might not choose to care for your children.
Why Ongoing Estate Plan Services are Crucial in Wakefield, MA
Far too many people think of an estate plan as a “one and done” solution. In truth, your estate plan will likely undergo many changes throughout your life. Since you probably don’t want to have to worry about whether your estate plan reflects your current status, let FEPLG do that for you! As a part of our ongoing client care program, we will routinely re-assess your estate plan to ensure it is up-to-date. Imagine how it would be for your loved ones to be left with your estate plan when it does not reflect changes in relationships, assets, and life.
Because we build a solid relationship with each and every client, making these changes and adjustments is much less complicated and stressful than it would be if you were doing it on your own. You may want to prepare for your Wakefield retirement. Perhaps your goal is to enjoy Wakefield and the state of Massachusetts. Or, maybe you are more interested in exploring life beyond your home. Either way, we can help you plan and make the decisions necessary to ensure your assets are protected at every stage in your life, well into your retirement.
At FEPLG, we are about much more than paperwork. We can share asset protection strategies with you that will eliminate potential financial burdens placed on your family members once you are gone. Yes, end-of-life planning can be an uncomfortable topic. When you choose FEPLG, you are getting highly experienced attorneys, well-skilled in elder care and estate planning laws.
Reputable Estate Planning Attorneys You Can Trust
The Family Estate Planning Law Group attorneys have been providing estate planning services for more than three decades. We are trustworthy, offering estate planning solutions and asset protection strategies available to protect your estate and your loved ones. No matter your specific needs, we are ready and able to assist you in creating a lasting legacy. Contact FEPLG today or explore our blog and schedule your complimentary consultation. We believe you will be extremely pleased with our estate planning offerings: Our SAVeT™ System, our Family Care Meeting™, and our ongoing client care program. Together, We Plan for Life®.