As a parent, it’s one of your primary goals to protect your children as much as you can. Unfortunately, far too many parents overlook the aspects of estate planning that should be considered as part of this overall view on protection.
Inappropriate planning can lead to devastating consequences for your loved ones and proper planning can ensure that your children are protected and have a clear plan of what to do if you become incapacitated or pass away.
One of the most dangerous things that can happen is to leave your property directly to your minor children. This means that the court controls the money until the children are adults and even leaving money to adult children can have pitfalls, depending on the maturity and responsibility levels of each child. Using a trust is one of the best things that you can do to structure a solid estate plan based on your family’s individual needs.
It’s important to take a step back and to look at planning options from the big picture so that you can feel confident about your plans aligning well with your individual needs and what you envision as the future of your family. You deserve to have these questions answered with the help of an attorney who can translate them into documents and strategies.
A consultation with an estate planning lawyer can walk you through what it looks like to create a trust for your loved ones and some of the factors to consider when creating this document. Need help today? At our Massachusetts estate planning office, we help parents determine what estate planning looks like for them and keep an ongoing relationship with you so that your plan is always updated.
