Many people mistakenly think they should wait until they are older to talk with a Burlington estate planning attorney. The reality is, you shouldn’t wait and by waiting, it may become too late. You should talk with a legal professional if you want to protect your assets or achieve more security for yourself and your loved ones from life’s uncertainties. If you have anyone who is dependent upon you, getting help with estate planning also becomes very important.
The Law Offices of James A. Miller, P.C. provides help to people at all ages, and to people in all life stages, with the estate planning process. When you consult with a Burlington estate planning attorney, we will customize the advice that we provide to be specific to your financial and family situation. We can also help you to keep your estate plan updated as your life changes. Give us a call today to find out more.
When To Talk with a Burlington Estate Planning Attorney
You should talk with a Burlington estate planning attorney as soon as you can when you are legally an adult. You should get prompt legal advice so you can protect yourself, your wealth, and your family. Many people believe they don’t have to worry about estate planning until they get older, but this is a falsehood based on unjustified feelings of invincibility. Young people get sick and hurt too, and if they don’t have an estate plan in place, it will be too late for them to get the benefits which could be available to them under Massachusetts law.
Not only should young people get estate planning help, but they may need this help even more than older people. If you have young children depending upon you, you must make sure they are provided for if something happens to you. People young, old, and at all phases of life need to get help to provide for their kids and other family members.
Why You Shouldn’t Wait to Get Estate Planning Advice
If you wait to talk with a Burlington estate planning attorney, you could lose out on many important opportunities and your delay could cause legal and financial harm to your family members. Waiting too long means you could suffer an illness or an injury which leaves you incapacitated and unable to move forward with creating a legacy plan and making provisions to protect your estate. The consequences of the delay could include:
- Loss of control over division of property: Massachusetts intestacy laws could end up applying to determine who inherits and you wouldn’t get the chance to decide what charities to give to and what friends and relatives to leave money to after you are gone.
- Loss of the ability to reduce estate taxes: You may be assessed both Massachusetts estate taxes and federal estate taxes. This could result in a significant amount of money going to the government. With advanced planning, you could potentially reduce your tax bill or avoid some taxes altogether.
- Loss of control over how assets are managed: In many situations, it makes sense to create trusts to maintain a degree of continued control over assets so heirs don’t squander their inheritance after death. If you’ve waited too long and have no estate plan, you won’t have this opportunity and the gifts you meant to leave your heirs could be wasted.
- Family fighting: Without guidance for who should inherit and what should happen to prized family possessions, your loved ones could end up fighting. You don’t want to be the cause of bad feelings among family members who should be coming together after a loss.
These are just a few of the many consequences of waiting too long to get estate planning help. You don’t want to miss the chance to control your own future and protect your family and your assets.
How a Burlington Estate Planning Attorney Can Help You
If you are serious about protecting your future or if you are concerned about your family or finances in the future, we we can help. We will listen closely to your goals, discuss your work and family life, and provide you with guidance on planning for the future and for life after death. You don’t want to leave your family in a bad situation in case tragedy strikes, so reach out to us today for help.
You can join us for a free seminar to learn more about the estate planning process and why it matters to you. You can also give us a call at any time to get personalized advice. Just contact us at 866-370-3888 or contact us online to speak with an experienced member of our legal team and learn how we can help.
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