Only you can control the impact you make on the world and how you are remembered. Taking action to shape your legacy is a smart choice so you can make a meaningful impact on your loved one’s lives and so you can lend your support to causes you care about. You don’t have to be rich to leave behind a substantial legacy – you just need to make a plan and stick to it.
The Law Offices of James A. Miller, P.C. provides legal help with legacy planning to clients in Worcester and Burlington, MA as well as surrounding areas. Our firm assists young people, as well as those who are middle aged or who have entered their retirement years. At all phases of your life, you can take steps to create a strong legacy. We will help you set your goals for how you want to be remembered and advise you on the steps you need to achieve your dreams. Give us a call at 866-417-4566 or contact us online to learn more about creating your own plan and to get answers to questions about legacy planning like:
- What is involved in legacy planning?
- When should legacy planning start?
- How can a Burlington legacy planning lawyer help?
What is Involved in Legacy Planning?
Legacy planning involves determining what property you will leave to family members and to charitable organizations. However, legacy planning is about much more than just creating a will in order to distribute your possessions after your death.
Legacy planning can involve taking steps when you are younger to amass substantial assets so you can make a real difference in creating wealth for your family that will last for generations and so you can make substantial gifts to important causes. It can involve building a family business or making a success a family farm. It also involves finding ways to protect the wealth you are growing and to avoid the types of losses which could make it harder to leave a legacy.
An experienced attorney will talk with you about your goals for your legacy and will help you to put in place a concrete plan to achieve all that you hope to during your lifetime. This could include:
- Creating an automated plan to save, and taking advantage of savings accounts like IRAs which provide tax breaks.
- Incorporating a business to protect assets and make it easier to transfer the company ownership.
- Using trusts and other tools to ensure your assets are kept safe. Trusts can prevent you from having to spend your own money if you require nursing home care; can help you to avoid probate; can make it possible for estate taxes to be avoided or reduced; and can protect heirs from bad money decisions which could squander a legacy.
- Creating charitable foundations and/or charitable remainder trusts to best provide assistance to important causes.
These are just some of the different ways that a legacy planning lawyer can help you to grow and protect your wealth and to use that wealth to change lives.
When Should Legacy Planning Start?
Legacy planning should start as early as possible. The sooner you begin to plan for what you want your legacy to be, the sooner you can put an action plan in place to grow and protect your wealth. In many cases, you need to act long before a threat to your savings arises in order to best protect the assets which should be your legacy. An attorney will provide you with details on the risks to your financial security so you can take steps to keep your legacy safe.
Legacy planning also needs to begin right away because an unexpected illness or death could happen at any time. You want your plan in place so if tragedy strikes, your family and the charities you support will benefit from your assets and your desires for your estate will be respected.
How can a Burlington Legacy Planning Lawyer Help?
The Law Offices of James A. Miller, P.C. 866-417-4566 will work with you at every step of creating a plan for how to leave a strong legacy. We have assisted many clients in Worcester, Burlington, and surrounding areas throughout Massachusetts and our goal in every situation is to help you make the mark you hope to make on the world. To learn more about the ways that we help you to shape your legacy, give us a call at 866-417-4566 or contact us online.