Estate Planning Lawyer in Ashland

Assisting Clients With Estate Planning Matters in Massachusetts 

At Marsden Law P.C., we are dedicated to helping the Ashland community anticipate and prepare for the future. Through a diligent and thorough approach, our attorney can help you take account of your assets, decide how and by whom they will be inherited, and finalize decisions regarding your own care. Our lawyer provides strategic planning to help you prepare for the future in a simple, cost- and time-effective manner.

We understand that no two clients are alike. For this reason, we offer personalized counsel to help you understand the tools available to you and how you can use them to help you achieve your goals. No matter the complexity of your case or the amount of assets you possess, estate planning with the help of Marsden Law P.C. can help you protect your legacy and your loved ones.

Call our Ashland estate planning lawyer to begin: (800) 828-7854.

What Is Included in Estate Planning?

Estate planning refers to the act of arranging decisions and preparing documents to account for yourself and your property upon death or incapacitation. It involves decisions concerning your wishes for your property, loved ones, and yourself.

To protect your assets, your estate plan could include:

• Last will and testament
• Revocable or irrevocable trusts

To protect your family, your estate plan could include:

• Guardianship decisions

To protect your future and legacy, your estate plan could include:

• Continued charitable donations to a cause you support
• Funeral and burial wishes
• Healthcare proxies
• Powers of attorney

By proactively drafting an estate plan with the help of Marsden Law P.C., you can protect yourself and your end-of-life decisions. Additionally, you could protect your assets and loved ones by circumventing estate taxes and limiting the necessity for probate.

Marsden Law P.C. is available to listen to your estate planning goals and give you the legal assistance necessary to make them a reality.

When Should I Update My Estate Plan?

Some of the most common reasons to revisit your estate plan include:

• Marriage or Divorce: If you’ve recently married or divorced, it’s critical to update your estate plan to reflect your current marital status. This might include changing beneficiary designations, creating new wills, or adjusting power of attorney appointments.
• Birth or Adoption of a Child: Adding a child to your family is a significant reason to revise your estate plan. You may need to appoint a guardian for minor children, establish trusts for their future financial security, and update beneficiaries on life insurance policies and retirement accounts.
• Significant Changes in Assets: If you experience a substantial change in wealth—such as receiving an inheritance, selling a business, or acquiring valuable real estate—you should adjust your estate plan to account for these new assets. Proper planning can help avoid tax issues and ensure that the assets are allocated according to your wishes.
• Changes in Health: A major illness or diagnosis may prompt you to update your estate plan. Health changes often require new considerations for long-term care, living wills, and healthcare proxies.
• Relocation: Different states have different laws regarding estate planning. If you’ve recently moved to Massachusetts from another state, reviewing your plan with an Ashland estate planning attorney is essential to ensure it complies with local laws.
• Changes in Tax Laws: Tax regulations affecting estates can change. You should periodically review your plan to make sure you are taking advantage of any tax-saving opportunities or modifications in the law.
• Death of a Beneficiary or Executor: If a person named in your will or trust passes away, you’ll need to appoint a new beneficiary or executor to ensure your plan remains valid.

What Are the Benefits of an Estate Plan?

Some of the most significant benefits include:

• Avoiding Probate: Probate is considered the legal process by which a court verifies the validity of a will. It can be time-consuming, costly, and subject to public scrutiny. Proper estate planning helps you avoid or minimize probate, ensuring a faster, more private transfer of your assets to beneficiaries.
• Minimizing Estate Taxes: Estate planning allows you to reduce the impact of state and federal taxes on your estate. Trusts, charitable donations, and other planning tools can significantly lower the amount of tax that may be due, preserving more of your wealth for your heirs.
• Providing for Minor Children: An estate plan allows you to name guardians for minor children, ensuring that they are cared for by someone you trust in the event of your death. You can also establish trusts that will provide for their education, health care, and general welfare until they reach adulthood.
• Ensuring Business Continuity: If you own a business, an estate plan is essential for ensuring its smooth transition in the event of your death or incapacitation. You can appoint successors, outline instructions for the sale or transfer of ownership, and provide financial resources for continued operations.
• Avoiding Family Disputes: Without an estate plan, your assets will be distributed according to state laws, which could not align with your wishes. This can lead to disputes among heirs, potentially fracturing relationships. You minimize the risk of family conflicts by clearly outlining your intentions in a legal document.
• Providing for Loved Ones with Special Needs: If you have a family member with special needs, estate planning allows you to provide for their financial future without jeopardizing their eligibility for government assistance programs. A special needs trust can ensure they obtain proper care while maintaining access to benefits.
• Protecting Your Healthcare Wishes: An estate plan isn’t just about financial assets—it can also include healthcare directives, like living wills and durable powers of attorney. These documents empower someone you trust to make medical decisions on your behalf if you are incapable to do so, ensuring your healthcare wishes are honored.
• Managing Incapacity: An estate plan helps protect you and your assets if you become incapacitated. By establishing a durable power of attorney, you can designate someone to handle your financial affairs, avoiding the need for court-appointed guardianship.

Contact Our Estate Planning Lawyer in Ashland Today

Working with our Ashland estate planning attorney ensures that your estate plan is tailored to your unique situation. Every individual’s circumstances are different, and we can provide the expertise needed to create a plan that addresses your precise goals and concerns, giving you peace of mind that your legacy will be preserved.

Our Ashland estate planning attorney is available to help you protect your legacy. Contact us today to start your estate plan.