What is a Legacy?
Legacy Protection in Massachusetts: Why Estate Planning Matters
When considering estate planning in Massachusetts, it's often viewed as a necessary task rather than a desired one. Many individuals tend to prioritize it as a "should do" rather than a "want to do" activity.
Some have already taken the proactive step of creating an estate plan, while others may be reading this for someone else. For most, estate planning tends to linger at the bottom of the to-do list until a life event makes it imperative. The thought of planning for one's own end can be understandably disheartening.
However, a shift in perspective can make a significant difference. Instead of viewing it solely as planning for your demise, consider it as planning your legacy—an opportunity to maximize the positive impact your life can have on your loved ones. This legacy may encompass how your assets benefit your heirs or provide them with a clear roadmap for your estate, preventing unnecessary conflicts and confusion.
The Impact of Safeguarding Your Legacy
In Massachusetts, real property alone can hold substantial value, potentially reaching hundreds of thousands of dollars or more. Even if your primary asset for inheritance is your home, you could offer your heirs a significant advantage in achieving their life goals. Your adult children may be able to make down payments on their first homes or contribute to their grandchildren's college education.
For those with assets they wish to keep within the family, such as a farm, family home, or business, careful planning can ensure that estate taxes are minimized or avoided, allowing your heirs to preserve these priceless assets as intended.
Consider the possibilities if you have substantial assets to leave behind. Your children and grandchildren could use this legacy to start their own businesses, support causes they are passionate about, or make investments that grow your legacy into one for future generations.
Not all legacies are material. Some involve the values and connections you fostered within your family. In such cases, planning remains relevant. Imagine your family having clarity on your wishes, the ability to swiftly handle necessary matters without probate court involvement, and the capacity to move forward during challenging times without disputes.
How to Safeguard Your Legacy
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How Our Estate Planning Attorneys Can Help
Whatever it looks like, however big or small, tangible or intangible, you have built a legacy. Whether it is a spouse, children, grandchildren, or other people you care about, you have loved ones whose lives will be improved by your careful stewardship of that legacy. We are ready to help. We understand this can be a difficult issue to tackle, so we have designed our process to make it as easy as possible for you to get the plan in place that protects you and your family and accomplishes your goals. You can use the button below to schedule a free information call, or simply give us a call at 781-784-2322.