| Law Office of Attorney Russell P. Canevazzi 58 Sandwich Street Plymouth, Massachusetts 02360 (508) 746-3161 |
| ESTATE PLANNING |
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What is Estate Planning and can I do it myself?
Estate planning is a term describing the process of preparing for your future.
Most lilkely you have already become involved in the process by getting life
insurance, insuring your home, having a joint checking account or having your
home in both your name and your spouse.
In the legal profession, we interview clients to determine thier goals and then
make recommendations as to how to secure those desires. We discuss and
recommend the legal instruments that can be employed. We design a plan that
binds future actions and sets out your intentions so that they can be legally
enforced, or provide that combination of control and instruction that make
you comfortable.
When should I have a Will?
Wills are utilized to express your intentions and directions regarding your property
and family subsequent to your decease. Consequently, wills are important once
you own property or have a family. Younger people generally put off generating
this instrument because they associate the document with their death which won't
happen for many years. However, realistically we all know young people who
have expired prematurely and left their families with many unanswered questions.
Consequently, if you have thought about a will, now is the time to make one.
What should be in a basic estate plan?
A basic estate plan should address matters both now and in the future. It should
exhibit thought and consideration over issues of heath care and finances while
you are alive as well as upon or after your demise. Commonly an estate plan will
utilize a homestead, health care proxy, durable power of attorney, designation of a
guardian, and creation of a will. The plan may also utilize one or more types of
trusts, some of which provide for minor children and family, or control of real
estate, or as a means of diminishing the impact of capital gains taxes or more
commonly, estate taxes.
The preceding comments are illustrative of the matters that are discussed with
your attorney. Anyone can study these instruments and issues for themselves.
This course of action is even recommended, but the creation of the necessary
documentation is a task best performed by an attorney with indepth experience
because the choice of language can be absolutely critical. Lawyers who dabble in
this field frequently don't ask enough or the right questions, or don't properly set
out the necessary terminology thereby frustrating the intent of the client or
causing the plan to fail.
Estate planning is a term describing the process of preparing for your future.
Most lilkely you have already become involved in the process by getting life
insurance, insuring your home, having a joint checking account or having your
home in both your name and your spouse.
In the legal profession, we interview clients to determine thier goals and then
make recommendations as to how to secure those desires. We discuss and
recommend the legal instruments that can be employed. We design a plan that
binds future actions and sets out your intentions so that they can be legally
enforced, or provide that combination of control and instruction that make
you comfortable.
When should I have a Will?
Wills are utilized to express your intentions and directions regarding your property
and family subsequent to your decease. Consequently, wills are important once
you own property or have a family. Younger people generally put off generating
this instrument because they associate the document with their death which won't
happen for many years. However, realistically we all know young people who
have expired prematurely and left their families with many unanswered questions.
Consequently, if you have thought about a will, now is the time to make one.
What should be in a basic estate plan?
A basic estate plan should address matters both now and in the future. It should
exhibit thought and consideration over issues of heath care and finances while
you are alive as well as upon or after your demise. Commonly an estate plan will
utilize a homestead, health care proxy, durable power of attorney, designation of a
guardian, and creation of a will. The plan may also utilize one or more types of
trusts, some of which provide for minor children and family, or control of real
estate, or as a means of diminishing the impact of capital gains taxes or more
commonly, estate taxes.
The preceding comments are illustrative of the matters that are discussed with
your attorney. Anyone can study these instruments and issues for themselves.
This course of action is even recommended, but the creation of the necessary
documentation is a task best performed by an attorney with indepth experience
because the choice of language can be absolutely critical. Lawyers who dabble in
this field frequently don't ask enough or the right questions, or don't properly set
out the necessary terminology thereby frustrating the intent of the client or
causing the plan to fail.
| Please direct questions or comments to the email provided below. rcanevazzi@yahoo.com |