Questions About Setting Up an Estate Plan?
Massachusetts Estate Planning Attorney Can Assist You in The Estate Planning Process
There are many benefits to working with an estate planning attorney. For many people, an estate is a complex thing to manage. Furthermore, one of the most important aspects of estate planning is leaving a legacy to your family. A qualified attorney can make sure that your wishes are carried out after your death in a respectful and honorable way. You can never be too prepared when thinking about how your assets will be handled in the future. Establishing a will, trust or other entity for asset protection may help you manage your holdings and ensure they are properly handled after your death. Additionally, no matter how complex or straightforward your estate may be, you and your family can benefit from a solid estate plan.
Choosing an estate planning attorney is a fundamental decision. You are essentially planning how your assets are managed and distributed during incapacitation or after your death. You should choose a local, qualified Massachusetts estate planning attorney who has significant knowledge and experience. Contact the Law Office of Brandon L. Campbell today for a free telephone consultation.
How Can Estate Taxes Affect Me?
Taxes are one of the biggest concerns for most people when they are structuring an estate plan. Few people know how to minimize taxes on their estate and are often left unprepared. This is why working with a knowledgeable attorney in the field is so important. With all the different changes in tax laws across the country, working with an knowledgeable attorney can help you answer questions particular to your personal situation.
One mistake that many individuals make is trying to liquidate their assets as soon as possible when setting up an estate plan. However, this can have many tax repercussions later on in the year; it could also eventually affect your loved ones or your intended plan for your estate. Instead of trying to sell everything off, it is important to think about the tax consequences before executing a plan. For example, you may be able to establish a trust, which can minimize your tax liability.
How Should I Handle My Investments?
For many people, establishing how to distribute various investments is the main challenge of an estate plan. Some investments are not as liquid as others. For example, if you want to leave an investment property to your children, then you must make sure you understand that there are certain costs associated with selling the property. If your beneficiaries may not have the time or resources necessary to prepare and sell an investment property, then you may wish to make other arrangements.
Additionally, not all families are fully equipped to manage an estate on their own, so you may want to consider having an attorney who can handle these responsibilities in the future. An estate planning attorney can walk you through the process of managing investments during probate or trust administration so that you know what your family can expect. This is a stressful time for any family to go through. Not only do they have to deal with the death of a loved one, but they also have to make major financial decisions that could greatly impact their future.
This is one of the reasons why it is so important to plan your estate before you pass away. Doing so will likely prevent disputes from occurring later on in the process. Little is worse than fighting over an inheritance once someone passes away.
Contact Our Massachusetts Estate Planning Attorney Today
Choosing an estate planning attorney is a vital decision for anyone to make. It is best to choose someone who has experience working with others in similar circumstances. In addition, look for someone who truly cares about helping customers.
In the coming years, this is a field that is going to continue growing. Tax laws are only going to get more complex, and many people may struggle with this process without professional help. Hiring professional help is a great investment, especially if you have a large estate to manage. Now is the time to start planning this process for your family.
Beverly estate planning attorney Brandon L. Campbell has significant experience and is available to consult with clients his office in Beverly, MA. Call today at (978) 745-5551 for a free telephone consultation.