Announcing: A satellite office located in Methuen, MA
319 Littleton Road, Suite 305, Westford, Massachusetts 01886
What is an Estate Plan?
Estate planning is the process of putting documents and instructions in place to both manage your affairs now and at end of life.
Which documents are recommended in a basic estate plan?
A basic estate plan typically consists of a Will, Durable Power of Attorney, Health Care Proxy and HIPAA Release. If desired, additional pieces can be added such as a Living Will, Cremation Wishes, or guidance on distribution of personal property items.
I have a Will, why do I need anything more?
The Will takes care of your affairs only after you have passed. The other documents are to ensure your financial and medical affairs can be managed, if you are unable to, while you are still here.
DURABLE POWER OF ATTORNEY: The Power of Attorney allows you to name someone to handle your financial matters.
HEALTH CARE PROXY: This document ensures medical decisions can be made for you if you are declared incapacitated. Without this document, a Court ordered guardianship could be necessary.
HIPAA RELEASE: If you are in the hospital, this document allows the people you name to speak to your doctor and ask questions but does not allow them to make any decisions.
LIVING WILL: Your end of life preferences are outlined in this document for your family's benefit.
ESTATE PLANNING
What we do:
We will thoughtfully answer your questions, providing you with the guidance to perfectly tailor your estate planning documents to your individual and family needs, in a streamlined manner. Initial estate planning consultations are always no charge.
WHO NEEDS AN ESTATE PLAN?
The simple answer is: anyone over the age of 18. Yes, really! We hope for the best for our clients, friends and families, but plan for life's unexpected events. From the exciting events such as a the birth of a baby or a child leaving for college, to the untimely death of a loved one or the finalizing of a divorce, plans need to be in place to ensure you and your loved ones have the legal authority to handle to all the resulting circumstances.
COLLEGE STUDENTS: If you have a student heading off to college or one already there, you may have learned that once they are 18, your parental rights seem to evaporate. Speaking from experience as a parent, when dealing with colleges, parents have limited access to their student's financial accounts or medical concerns without the proper documentation. Some kids are ready to manage these issues on their own and others would prefer to lean on mom or dad for assistance, so give us a call for more information.
YOUNG FAMILIES: By the time we are in our early 20's, most of us have a bank account and perhaps a vehicle, maybe even a spouse, future spouse or children. If the unthinkable happens, some pre-planning with a simple estate plan can ensure the proper care of children and administration of any assets.
BLENDED FAMILIES: Having proper planning in place is even more important for blended families. Without the proper documentation, if tragedy strikes, your family will be at the mercy of the state's laws, which may or may not distribute your estate according to your wishes. Some simple planning ahead of time, can ensure that your loved ones are cared for in the way you intend them to be.
TRUSTS, PROPERTY AND TAX PLANNING: Everyone needs a trust, right? Well, there are pros and cons to having a trust. Trusts come is many forms serving various purposes. You may have a trust from a previous estate planning endeavor that is sitting idle or there may be long-standing trusts within your family holding title to assets. Each individual and family is unique and we will work with you to analyze your situation to draft a solution that works for you now and in the future taking tax considerations into account.
MAKE-A-WILL CLASS:
Not everyone needs a complex estate plan and you may be one of those people. We meet on the first Wednesday of the month (virtually while Covid restrictions are in place) to discuss what a Will can and cannot do and to outline the important information you need to create a Will. We will meet again on the third Wednesday of the month to review and sign your new Will. Classes will be limited to 8 participants. Please call to reserve your space!
TESTIMONIALS
Kim, When you did our Wills last year, you not only made sure my wife and I had all of our questions answered, you were sure to ask for information we didn't think we needed. From start to finish you made the process easy and we couldn't have asked for more. Thank you for everything. Justin & Karen H.
Kim is an excellent Attorney. She is extremely knowledgeable in her field; she offered excellent advice and made our legal process go very smoothly. She was always available for questions and always got back to us in a timely manner. I highly recommend her and would use her again in any legal matter. -Angela M.