When it comes to finding a lawyer for estate planning, many people think they can do it on their own. This is not always the case. In order to ensure that your estate is handled in the way you want, you may need to hire a lawyer. An estate lawyer can help you with a variety of tasks, including making wills, trusts, and power of attorney forms.

How much does an Estate Planning Lawyer cost?

While someone with a straightforward estate may not need to pay for an estate lawyer’s help, those with more complex situations may need to. An estate lawyer may charge a few hundred dollars for a simple will, but documents for more complex problems can cost thousands.

How to Find an Estate Planning Lawyer

When looking for a lawyer for estate planning, it is essential to find one that specializes in what you need, whose fees you can afford, and who you think you can work well with. Estate planning is a necessary process that everyone should go through. By working with a lawyer, you can ensure that your estate is handled in the way you want it to be.

Can an Estate Plan Avoid Family Conflict?

By creating an estate plan, you can avoid these nightmares. With a proper lawyer for estate planning in place, your family’s future needs and wants after death or divorce proceedings have been completed. You will be able to ensure that the people who are most important get what they deserve from all aspects of life: property division; retirement funds (or lack thereof); insurance policies etcetera without limited hassle.

How does an Estate Plan Protect my Children?

Without an estate plan, it can be difficult to provide for your children if you pass away without a surviving spouse. In most cases, the court system will select one or more family members as their guardians in such situations. However, there are instances where friends may petition successfully so that this does not always happen. Even then they lack certain elements like love and protection which is why having an estate plan means giving kids these things firsthand by deciding who becomes guardians.

Estate planning is an important step to take for everyone, and it’s something that should be done before you retire or while still working if possible. It can help with pass-down law rights so your loved ones are protected in case anything happens suddenly without any warning.

Choosing the right lawyer for estate planning is as easy as contacting DaMore Law!

When it comes to estate planning, one of the most important decisions you’ll make is whether to establish a revocable or irrevocable trust. Both have their advantages and disadvantages, so it’s important to understand the difference before making a decision. In this blog, we will discuss the key differences between revocable and irrevocable trusts, as well as which might be right for you.

Revocable Trusts

Analyzing the difference between a revocable and irrevocable trust, most people are familiar with revocable trusts, also known as living trusts. A revocable trust is one that can be modified at any time, without the consent of the beneficiaries. This means that you can change the terms of the trust, or even dissolve it entirely, if you so choose. The main advantage of a revocable trust is that it gives you a great deal of flexibility.

Irrevocable Trusts

Irrevocable trusts, on the other hand, cannot be modified after they are created. Digging into the difference between a revocable and irrevocable trust, it means that once you establish an irrevocable trust, you cannot change your mind about the terms or beneficiaries. The only way to make changes to an irrevocable trust is with the consent of all the beneficiaries.

Which is Better?

So, beyond the difference between a revocable and irrevocable trust, which type of trust is right for you? It depends on your individual circumstances. If you want the flexibility to make changes to your estate plan down the road, a revocable trust might be a good option. On the other hand, if you’re looking for asset protection or tax advantages, an irrevocable trust might be a better choice.

Ensure Your Future is Prepared for and Protected

The difference between a revocable and irrevocable trust? No matter what type you choose, it’s important to work with an experienced estate planning attorney to ensure that your assets are protected and your wishes are carried out according to your desires. Contact our office today to schedule a consultation. We can help you determine which type of trust is right for you and create a customized estate plan that meets your needs.

Many people believe that estate planning is reserved only for specific individuals. Whether they assume it’s only for the extremely wealthy, the elderly, or business owners, they miss out on a crucial step to protecting their future. Estate planning is worthwhile for everyone. Here are various vital areas a lawyer for estate planning can handle.

Creating Your Will

Establishing your will is only the beginning of what a lawyer for estate planning can do for you. Your will determines where your assets are distributed after your passing. Without accurately and legally creating your will, you risk your belongings, estate, and other assets ending up in the wrong hands.

Saving Time & Money

If you don’t create a will before your passing, the probate court determines where your assets will go. The probate process can take years to complete. Probate fees, home appraisals, and attorney fees also add up to be extremely costly. Hiring a lawyer for estate planning saves you precious time and money.

Power of Attorney

A vital part of planning for the future is a power of attorney. This legal agreement allows someone else to make crucial decisions on your behalf if you are unable. Without establishing power of attorney, your finances can end up trapped. A lawyer for estate planning will ensure the person you trust most is legally allowed to handle decisions you need them to.

Health Care Proxy

Similar to power of attorney, a health care proxy appoints someone you trust to make critical medical decisions if you are incapacitated. Healthcare decisions can cause emotional turmoil between family members and loved ones. Your lawyer for estate planning will ensure your trusted appointee carries out your wishes.

Personalized Plans For The Future

Everyone can benefit from the protection of estate planning, but many people are unsure where to begin. At DaMore Law, we guide you through the entire process with exceptional service to create a personalized plan for you and your family. Contact us today to speak with one of our attorneys.

Powers Of Attorney is an aspect of estate planning. This legal agreement grants power to a person of your choice to make decisions on your behalf. Understanding powers of attorney is crucial for planning your future. Here is what you need to know about powers of attorney to begin your estate planning.

Major Decisions

Implementing powers of attorney is most commonly used when a person is sick, disabled, or otherwise unable to make significant decisions independently. These decisions may be financial, medical, or regarding your assets. The person you designate has the power to make these important decisions without consulting you. You must choose someone you trust with powers of attorney so you can have peace of mind regarding significant life decisions.

Multiple Options

There isn’t just one type of power of attorney. You have the option to set up powers of attorney that are limited to specific areas, such as managing properties or healthcare decisions. Choosing the right fit for your unique situation depends on your goals and what areas you are focused on protecting. Always speak to an estate planning attorney to determine the most appropriate route for you.

Undoing Damage

As we stated earlier, you must appoint someone you deeply trust with your powers of attorney. If they make a significant decision regarding your finances or assets that harms your estate in any way, it is challenging to undo the damage. The powers of attorney are substantial, and you have essentially given them the go-ahead to do as they please.

You Are Not Powerless

With that said, you still maintain the ability to act on your behalf as long as you can do so. Powers of attorney are a safety net, not a means of restraining your rights. You have the right to revoke or change the terms of the power of attorney as you see fit, provided that you are physically and mentally able to do so.

Protecting Your Future

Everyone can benefit from the protection of estate planning, but many people are unsure where to begin. At DaMore Law, we guide you through the entire process with exceptional service to create a personalized plan for you and your family. Contact us today to speak with one of our attorneys.

How To Get Started

It’s not too early to get started on your estate planning. Estate planning is a process that refers to getting your assets in order after your death. This includes who will receive them and who will handle their distribution. On top of that, you want your assets and estate to be handled in a way that is smooth, accurate, and minimizes the taxing process. Here’s a checklist for estate planning.

Create An Inventory

First off, you need to create an inventory of your assets. This is split up between tangible and intangible assets. Tangible assets include things like houses, land, vehicles, and personal possessions. Intangible assets refer to items such as bank accounts, health care savings, and life insurance. Once you have an inventory completed, you are ready to move on.

Assess Loved One’s Needs

This is the step where you will create your will. This ensures your assets are properly distributed according to your wishes. A will dictates how you would like your real and personal property to be distributed to others. If you have children, make sure you name a guardian as well as a backup guardian in your will.

Create Your Legal Directives

Creating a trust will allow someone to take over your assets and decisions should you become unable to do so. You can also create a living will at this point. This establishes your wishes should you ever be in a medical state in which you are being kept alive by artificial means and have no reasonable means of recovery. Similarly, naming a power of attorney allows someone you trust to make financial decisions on your behalf if you are unable to do so.

Work Alongside Estate Planning Professionals

Estate planning is a complex process with many important decisions regarding your future and assets. Hiring a trusted estate planning attorney will make these steps easier and smoother for you and your loved ones. Their guidance will help create the best plan for you. 

Affordable and Reliable Planning

We’re here to work with anyone looking for Estate Planning, covering everything from simple wills to detailed revocable trusts. We understand that every family is unique, and we will provide a free consultation to create a personalized plan. Contact us today to learn more. 

Estate Planning

Estate Planning refers to the process of managing an individual’s estate and assets prior to their passing. By doing this, it settles who will be inheriting the assets after they are gone. In the end, estate planning is important to save loved ones’ time, money, and even emotional distress. Incidentally, a lawyer is highly beneficial during this process. If you have been asking yourself, “Do I need a lawyer for estate planning?”, here is a quick guide to explain why it is in your best interest to hire one.

Creating a Will

Hiring a lawyer for estate planning takes the worry and stress out of creating a will. This is especially important if you have children. A lawyer for estate planning will guide you through the process of naming heirs, dividing property, and choosing guardians. Moreover, their expertise is crucial to ensure the will is legally binding, and to help prevent your decisions from being contested after your death.”

Power of Attorney

A power of attorney allows you to grant someone the legal ability to sign financial documents and make financial decisions on your behalf. A medical power of attorney, also known as a Healthcare Proxy, allows you to grant someone the legal ability to make medical decisions for you if you are unable to do so. A lawyer for estate planning helps you legalize and finalize these important documents.

Reduce Taxes & Avoid Probate Court Process

When you hire a lawyer for estate planning, they will help you reduce or even avoid estate taxes. Moreover, the probate court process can oftentimes be completely avoided with an estate planning lawyer. This process depends on what assets are being divided up, but having a lawyer on your side will save you loads of stress and worry during this time.

Affordable and Reliable Planning

When you work with DaMore Law, you receive exceptional service and guidance for your estate planning. We are with you every step of the way, including crucial processes such as revocable and irrevocable trusts, health care proxy, and Medicaid planning. Contact us today to learn more about how we can help you with your estate planning needs.

Estate Planning

It is never too early to plan for the future. Specifically, estate planning is highly important. Sorting out your assets now can save a lot of time, energy, money, and stress down the road. However, it can be difficult to know where to start with estate planning. Luckily, DaMore Law is here to assist. Let us take a look at 5 documents you need for estate planning.

Will and Testament

Essentially, a will lets you choose what happens to your possessions after you are gone. Additionally, this means you decide what is in the best interest of your children and/or pets. You can use your will to name the guardians of your children in the event of your passing.

Health Care Proxy

If you ever become incapacitated, you need someone you trust to be legally in charge of your medical decisions. This is where a healthcare proxy comes into play. If you are unable to communicate, this document becomes essential.

Living Will 

A living will makes everyone aware of your medical wishes should you be unable to communicate them. It provides valuable guidance for your healthcare agent when making difficult decisions, and helps prevent court battles over what decisions to make regarding life-sustaining treatment and your care.

Durable Power of Attorney

A durable power of attorney designates someone you trust to make financial decisions for you if you ever become unable to do so. Having this document in place is critically important so your loved ones do not have to seek court involvement to manage your affairs.

Living Trust

Much like the name implies, a living trust designates a “trustee.” This is someone of your choice to manage your property. A living trust can also save money on taxes in the long run.

With You Every Step Of The Way

These are just a few of the documents present in estate planning. At DaMore Law, we know the world of estate planning can be complex and intimidating. That’s why we always go above and beyond for you. We are eager to help you with everything from simple wills to detailed revocable trusts. Let’s uncomplicate your future together. Contact us today to learn more.a

The Importance of Planning Ahead

When most people hear “estate planning”, it conjures up images of vast properties, mansions, and wealthy belongings. However, it’s more than that. Your estate is everything you own: your home, car, life insurance, bank accounts, and more. Estate planning refers to planning what happens to your assets once you’re gone. This isn’t just something for the wealthy or the elderly: it’s important for everyone to plan ahead. Without a plan in place, things can go awry quickly. Here are 4 reasons why estate planning is so important.

Avoid Family Fights

Whether you’ve seen it happen in real life or just in pop culture, we’re all familiar with the horror stories: someone in the family dies, and the rest of the family turns against each other. Fights break out, oftentimes even heading to court. You never, ever want this to happen. With proper estate planning in place, you can avoid these nightmares. By creating an estate plan, you can spell out who receives what assets, and save your family the stress and anger of trying to divide assets amongst themselves.

Save Money and Time

If you pass without an estate plan in place, your state law determines what happens to your assets. During this time, everything you own is essentially frozen. The court systems have to go through each and every one of your assets with a fine-tooth comb. This can take months, if not years, and the legal bills that accumulate during this time can be very costly.

Save on Taxes

Only the ultra-wealthy are typically affected by federal estate taxes, but state estate and inheritance taxes can quickly become a nightmare. The government can unfortunately take a big slice of your estate before it gets passed on. However, you can minimize or even avoid these taxes with estate planning. You can set up trusts, make irrevocable gifts, or establish joint accounts. These are your best cards to play to save on taxes, but you need an estate plan to do them.

Protect Your Children

Without an estate plan, the court systems will play a large role in deciding who becomes the guardian of your child if you pass away without a surviving spouse. In most cases, a surviving family member will be assigned, or, a family friend can petition to become their guardian. In some cases, the child could enter the foster care system. Having an estate plan means you have a plan in place to protect your children. You decide who becomes their guardian, and you can have full assurance you’re giving them the love and protection they deserve.

Estate Planning You Can Trust

The bottom line is that estate planning is an important step to take for everyone. At DaMore Law, we understand that every family is different, and our mission is to help you make a plan that works best for you and your loved ones. Our experienced attorneys will make estate planning a smooth and stress-free experience so you can have peace of mind knowing you’ve planned for your legacy. Contact us today for a free consultation from one of our experienced professionals.

Estate plans include many components. In addition to detailing your preferences and wishes, you must also name trusted individuals to bear certain responsibilities. You can name one or several people for different roles, plus include backups. Here’s a closer look at the 4 trusted roles in estate plans and who may be best suited for each.

1 – Power of Attorney for Financial Affairs

A power of attorney for financial affairs allows someone to make financial decisions on your behalf when you are still living but are incapacitated or disabled. This includes having access to your bank accounts and credit cards, accepting income, and paying debts. There is no daily oversight by third parties, so you must thoroughly trust this individual with all money matters. The role is best suited for someone who is financially stable and is good at managing their own finances.

2 – Health Care Proxy

A healthy care proxy empowers someone to make decisions on your medical care. Again, this applies when you are unable to do so yourself due to incapacitation or disability. It’s helpful if your proxy is comfortable speaking to medical professionals and understands basic medical terminology. Given the emotional aspect of this role, you’ll also want someone who can think clearly under such pressure and make decisions that will honor your wishes.

3 – Personal Representative (Executor)

Another of the trusted roles in estate plans is an executor (known in Massachusetts as a personal representative). Unlike the other two roles listed above, an executor becomes active only after your death. The role includes a wide range of responsibilities including (but not limited to) managing financial accounts, selling assets, navigating court processes, accounting for funds, and distributing assets to heirs. Depending on your estate plan, it can be a short-term role of 6 months to a year or a one that extends for many years. In addition to being trustworthy, executors should also be organized and with a well-rounded skill set.

4 – Guardian for Dependents

Last, but certainly not least, is the role of guardian for your children. Guardians take on your parental role and will care for your children until they become adults. This is by far the most difficult role to assign. Be sure to read our articles on the qualities of a good guardian and other important considerations.

More on the 4 Trusted Roles in Estate Plans

For the 4 trusted roles in estate plans, it’s important to select people that you know and trust. Each is essential and require different skillsets. So, you might not assign the same person to all of them. Additionally, consider the potential conflict of interest. For instance, someone responsible for your finances is not best to decide whether to artificially extend your life or terminate care. Ultimately, it comes down to the characteristics of the people closest to you and your assessment of what they are capable of and can be trusted with. The decision is truly a personal one, although understanding each role can certainly help.

Contact our team for assistance with this and other important estate planning decisions. We will prepare a comprehensive plan to protect your rights while you are living and your assets and heirs upon your death.

The Internet and the availability of standard online forms has led to a do-it-yourself approach to estate plans. Just as you shouldn’t self diagnose health issues online, you shouldn’t address important legal matters online either. Before you start scouring the Internet for templates, here are a few dangers of DIY estate plans to keep in mind.

There Is No Standard Template

The first thing you should know is, there’s no such thing as a standard template that works for everyone! As you can imagine, an estate plan for a married person or someone with children might look different from that of a single person. Furthermore, someone who owns investment properties or a small business would need a different estate plan than someone who only owns a personal home used as a primary residence. No single estate plan template can possibly cover all possible scenarios. Anything promoted online as a standard template will likely lack the full scope of terms needed for your specific circumstances.

Legal Forms Must Be State Specific

Another important consideration are state laws. This is why attorneys are licensed in specific states and why estate plans prepared in one state must be updated when you move to another state. Websites that offer state-specific templates give you the false impression that their forms comply with all state laws. The fact is, although they may have swapped out certain terms in the forms, without the advice and counsel of a Massachusetts estate planning attorney, your estate plan may be missing key components.

Missing Important Clauses

Missing clauses is one of the biggest dangers of DIY estate plans. Unless you’re an attorney, you may not even know that you need something or that it’s missing in the first place. The issue may not be apparent until you become deceased, at which point your beneficiaries will be left with costly issues that threaten their inheritance.

Forgetting Assets

One of the most common issues with poor estate planning is missing assets. There’s a famous case in Florida, Aldrich v. Basile. The decedent used an online estate plan template. She listed all of her current assets but left out reference to the inheritance received from her sister, who died before her. As a result, unintended heirs (her nieces) were able to successfully claim rights to that asset. Had an attorney assisted with her estate plan, her assets would have been fully protected and passed to her brother, as she intended.

Other Dangers of DIY Estate Plans

The fact is, in an attempt to save a little money by purchasing a cheap estate plan template online, you could cost your estate and your heirs a lot more money. Online templates may not contain the right terms for your specific needs or per state laws. It may leave out important clauses designed to protect all of your assets beyond those specifically listed. You may also make mistakes in the signing and execution of documents, making them difficult to enforce. These can all lead to costly court battles and untended heirs. Don’t risk something as important and legally complex as an estate plan. Consult with a Massachusetts Estate Planning attorney to prepare a plan that meets your specific needs and that protects the rights of you and your heirs. Contact us today to schedule a consultation.