At Goldberg & Associates, our attorneys handle a wide range of claims involving estates, trusts, and other fiduciary matters. In addition to estate planning, some of the claims that we handle include, but are not limited to, the following.
Whether you are facing a dispute or need support managing your assets, our law firm can help. Schedule a legal review with Goldberg & Associates today to learn more about our services and how we can support your estate matters.
Your estate is the accumulation of everything that you own including real estate, vehicles, checking accounts, life insurance, personal items, and investments. An estate plan encompasses your instructions for what you want to happen to everything you own after you pass.
The will is a legally binding statement that outlines how you want your assets distributed after your death. In a will, you also appoint a personal representative of your estate, who is responsible for carrying out your final wishes. This document is a critical component of the estate plan.
When a person becomes incapacitated due to a medical emergency or decline in mental functioning, he or she can no longer care for himself or herself. Establishing a durable power of attorney protects your interests if you face this situation.
A power of attorney authorizes another person to handle specific matters on your behalf, such as medical decisions or financial matters. When a power of attorney is durable, that means that it remains in effect even if you become incapacitated.
A beneficiary is a person or entity who benefits from a will, estate plan, trust, insurance policy, or a similar financial arrangement. When creating an estate plan, you will need to name the beneficiaries by identifying who will receive certain assets. Many people name their children, spouses, and other relatives as beneficiaries, but you could also name a financial institution.
An advance medical directive, which is also known as a living will, is a legal document that specifies your preferences for medical care. This document will help doctors and caregivers determine what to do if you become terminally ill, suffer a serious accident, experiencing late-stage dementia, or nearing the end of your life.
For example, an advance medical directive may instruct doctors not to keep you on life support if you become brain-dead. By creating an advance medical directive, you can reduce confusion, avoid unnecessary suffering,
Life insurance policies are often issued through employers or purchased privately by individuals. If you have life insurance coverage, you will need to ensure that your account is in order and included in your final estate plan. You will need to name a beneficiary and include information on how your loved ones can access the policy following your death.
A trust is a fiduciary relationship between three parties: the trustor, who creates the trust; the trustee, who the trustor gives the right to hold property or assets; and the beneficiary, for whom the trust is established. Many people establish trusts to provide funds for their children, set aside assets for long-term care, and for many other estate planning needs.
If you have a pet that you want to take care of following your passing, you may want to consider pet trusts. By setting up a trust for a pet or companion animal, you can designate a caretaker, set the terms of your pet’s care, and set aside funds for food, supplies, medical care, and other important costs.
Benefits of Estate Planning: Estate and asset protection planning provides solutions to the following types of concerns.
For many clients, the best solution is a revocable trust, often referred to as a living trust.
Again, a revocable trust may provide the answer. In addition, every client needs a durable power of attorney and a health care proxy appointing a trusted individual to make financial and health care decisions for you when you no longer can yourself.
Wills and trusts are vehicles for passing on your assets to those you choose. Many clients are concerned about funds they leave to their children being at risk of their children’s creditors, spouses upon divorce, or simply bad decisions their children may make. For them, a family protection trust can provide the protection they seek. In addition, proper planning will prevent the payment of unavoidable estate taxes upon your death.
Not if you plan properly, the earlier, the better. There are a number of planning options available to spouses of nursing home residents to protect their financial well-being while qualifying their ill spouse for MassHealth coverage of nursing home fees.
We have helped many parents of children with special needs plan for their children through the creation of a special needs trust funded with life insurance.
Your greatest legacy is the children and grandchildren you raise, if any, and the memories you leave with your family, friends, and work colleagues. However, support of charities and an estate plan that provides for your family and smoothly passes on what you leave behind will also contribute greatly to the legacy you leave and your family’s welfare for decades to come.
If you need support planning an estate, you need an attorney who can represent your best interests and help you manage your affairs. Call (770) 229-5729 to schedule your legal review and learn more about your estate planning options.
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