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An Overview of Estate Planning Guidelines

It’s natural that most people avoid end-of-life planning. Contemplating your own death is no picnic. That said, everyone should do their families the favor of preparing a few key things that will make life easier for those who survive them. Here are some tips to make this planning relatively quick and easy.

Create a Notebook

Set aside several hours to gather all of your important documents that family members will need in the event of your death. If you keep these papers in your home, be sure you have a secure place to store them. List all of these items along with information on any significant assets that you own, accounts that you have, and anything else you need to pass along in a notebook, and be sure your family knows where you keep that notebook.

Get Legal Help

Even if you don’t have a large estate, working with a law firm that specializes in estate planning Lynnfield MA can help you be sure that you haven’t overlooked anything important. Your attorney can help you write a will, and a living will, to make decisions easier for your loved ones. In some states, legal procedures become complicated if you die without a will in place. An attorney can also help you determine whether setting up a trust for your assets might be beneficial for your situation.

Plan for Long-Term Care

As humans are living longer and longer, more people will find themselves in need of long-term care as they age. Work with your attorney to put your wishes in writing and to plan how your care will be paid for. Your attorney can help you determine whether long-term care insurance is a good option. Whatever choices you make, be sure to also communicate your wishes clearly to your family members so they’ll know best how to care for you when you need it.

Estate planning is a necessary step for most people. Do the work when you’re young and healthy so that you know you’ll be covered no matter what happens.

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