Experienced Estate Planning Attorney In Massachusetts
If you have worked hard, planned wisely and accumulated assets, it’s common sense to protect those assets and pass them to your loved ones in the manner you choose by structuring a comprehensive estate plan. There simply is no better way to show how much you love those people who will remember you so fondly.
Establishing a trusted attorney-client relationship is critical in estate planning, perhaps more so than with any other practice area. At the Law Offices of Nelson Chang, I invest a great deal of time early in the process to learn about each client’s unique situation in order to develop objectives that suit his or her needs.
Life changes more rapidly than ever. If you have not reviewed an existing estate plan within the past five years, it is important to do so with a knowledgeable attorney to ensure that it still accomplishes your objectives.
Knowledgeable Advice In All Aspects Of Estate Planning
Experience is a valuable characteristic of an estate planning lawyer. I have helped residents in and around Saugus gain the peace of mind that comes with putting an estate plan in place since 1975. I help my clients with the full scope of estate planning, including:
- Wills and trusts — The foundation of any estate plan, wills spell out your wishes on the distribution of assets and trusts can help you avoid probate and accomplish unique needs.
- Durable powers of attorney and health care proxies — These estate planning tools are the essence of being prepared should you become incapacitated and unable to make decisions for yourself. They spell out your wishes regarding health care and life-saving measures and designate individuals to make decisions for you regarding health care and financial matters.
- Probate and estate administration — I guide individuals who have been named executors of an estate through the probate process and ensure that the rules of probate court are followed.
- Protecting assets — Important steps should be taken to prevent your assets from being depleted to pay for assisted living or health care late in life, as well as estate taxes. I will help you pass your assets to your loved ones.
- Transfers of property — From businesses to real estate investments, I can help ensure a smooth transfer of your most valuable assets.
- Planning for Medicaid — I have the tools needed to help you plan for future Medicaid coverage without having to give away all of your assets.
Frequently Asked Questions On Estate Planning
Whether you have abundant wealth or just a few cherished belongings, having an estate plan can provide peace of mind for you and your loved ones. Below are answers to some commonly asked questions about estate planning:
What is estate planning, and why is it important?
Estate planning is the process of organizing your financial and personal affairs so that your assets are distributed according to your wishes after your passing.
In your estate plan, it is crucial to appoint guardians for minor children and outline health care decisions to minimize legal and financial challenges for your loved ones. Proper estate planning helps you avoid unnecessary court intervention and has your legacy protected and well handled, as you intend.
What are the key components of a basic estate plan?
A basic estate plan includes several important documents:
- Will: Specifies how your assets will be distributed and who will manage your estate.
- Durable power of attorney: Appoints someone to handle financial matters if you become incapacitated.
- Health care proxy: Designates a trusted individual to make medical decisions on your behalf.
- Revocable trust (if applicable): Helps avoid probate and manage assets efficiently.
I can help you choose the most suitable estate plan for your needs.
Do I need an estate plan if I do not have a lot of assets?
Yes, estate planning is important regardless of the size of your estate. It allows you to outline your health care preferences, designate beneficiaries and appoint guardians for minor children.
Even if you have limited assets, an estate plan honors your wishes and reduces potential legal complications for your family.
How can estate planning help protect my assets?
Estate planning protects your assets by stating how they should be managed and distributed. Tools like trusts can shield your assets from creditors, lawsuits or mismanagement by third parties.
A comprehensive plan can also help protect your family’s financial future and reduce disputes among heirs.
What are the tax implications of probate, and how can my estate plan help minimize them?
Probate can trigger federal or state estate taxes depending on your estate’s size, which may involve legal fees and court costs.
An estate plan can minimize these tax burdens through establishing trusts or making tax-exempt gifts during your lifetime. As your estate planning attorney, I can tailor your plan to maximize tax efficiency.
The First Step Is To Determine Your Needs — And It’s Free
You can’t afford to postpone putting a plan in place that will provide for your loved ones. The first meeting is free and a way to determine your needs. Call 781-816-8877 or use my online contact form to schedule a free consultation. From my office in Saugus, I offer estate planning guidance to clients in Beverly and throughout Essex County and the North Shore.