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Estate Planning: Should You Hire a Lawyer in Massachusetts?

On Behalf of | Dec 31, 2015 | News / Blog

When it comes to planning for your future, it pays to hire counsel licensed in Massachusetts and Rhode Island that can look out for your best interest. You need someone who you can trust to assist you in the navigation of homestead laws in Dartmouth, set up durable powers of attorney in New Bedford or establish trusts and wills in Mattapoisett. Massachusetts estate planning can be complicated, but it can also be simplified with the assistance of an experienced lawyer.

That being said, there are several reasons why you should hire an attorney instead of trying to navigate estate planning services on your own. One simple mistake could cost you and your loved ones a great deal of time and money. Planning for one’s estate is a very serious business. It requires an equally serious approach and can benefit greatly from the services of a professional attorney who can provide you with insight into all of the ins and outs of estate planning in the South Coast area.

Navigating State Laws
When it comes to estate planning, the laws between each state can be extremely different and complex. For example, there are subtle nuances in Massachusetts estate planning laws and Rhode Island estate planning laws and those of the other New England states that require different planning document provisions and language. The laws are very specific with regard to what can and cannot be included in a legal trust or will, so it is important to have legal counsel in Massachusetts and Rhode Island that knows the difference. Working with an attorney who has established durable powers of attorney in Providence and has assisted with homestead laws in Dartmouth can be beneficial.

Complicated Family Matters
There are some situations where it is the family dynamics and not the local state laws that make estate planning complex. Multiple marriages and divorces, widows and widowers, adopted children, disabled family members, family businesses and other unique situations can all affect how Massachusetts estate planning must be addressed. Even something as seemingly simple as wanting to leave an estate to charity or to minor children, can also become complicated if you do not know what you are doing. You will want to establish things like durable powers of attorney (DPOA) and decide who will administer your will when the time comes to avoid creating any confusion or arguments within the family.

Financial Savings and Investments
In addition, if your assets include a retirement pension, IRAs, 401(k) savings, brokerage account or other such investments, your planning may be more complex that you realize and need a comprehensive estate plan that takes them into account. Going over your financial savings and investments, retirement programs and any trusts that have been set up in the past, should be something that you do with your attorney on a regular basis. Experienced legal representation in Massachusetts and Rhode Island can help you to navigate all of these areas that should be addressed prior to any decline in your health or any situations that might put you in harm’s way. Discuss any questions you might have with regard to a taxable estate for local, state and federal tax purposes whether you or your heirs live in that state or not.

Saving Time and Money
Unfortunately, many individuals and families have incorrectly assumed that they would save money by not hiring an attorney for Massachusetts estate planning. The truth is that when you hire an experienced lawyer to help you with your estate planning, you gain access to a whole wealth of topics that you may not have even known existed that could protect your assets and provide even more for your family. Homestead laws in Dartmouth and the surrounding South Coast region, as well as other types of financial planning, such as special need trusts and durable powers of attorney, are very unfamiliar to the average citizen. Working with an attorney who has years of experience navigating these waters can help you protect your assets, save money on future costs or losses and ultimately save you time from having to try and do it all yourself.

Contact Amy Mello Law in Mattapoisett
If you are interested in learning more about consulting with legal representation in Massachusetts and Rhode Island for matters surrounding estate planning services. As an experienced attorney who has served the local region for more than a decade, Attorney Amy Mello can provide a wide variety of services to individuals and families who are considering Rhode Island or Massachusetts estate planning. Contact Amy Mello Law by calling 508-276-2578 to request a consultation.