By Attorney Erin L. Nunes, Esq., Partner
One of the most common reasons people delay estate planning is the sheer volume of decisions it seems to require. The good news? You don’t need to have all the answers upfront.
Instead of feeling paralyzed by the complexity, begin with a strong foundation. These core documents empower your loved ones and provide essential guidance, even if you haven’t finalized every intricate detail:
- Durable Power of Attorney (DPOA): Appoint trusted individuals (a primary and alternate agent) to handle your legal and financial affairs if you become unable to do so yourself. This can prevent the need for costly and time-consuming court intervention.
- Massachusetts Health Care Proxy (HCP): Designate individuals to make crucial medical decisions on your behalf when you are unable to communicate your wishes. This ensures your healthcare aligns with your values. May also avoid the need for a court-appointed guardian.
- HIPAA Release Authorization: Grant specific individuals access to your protected medical information, facilitating coordinated and informed care.
- Advance Directive (Living Will): Clearly outline your preferences regarding life-sustaining treatments, providing invaluable guidance to your healthcare providers and loved ones.
- Last Will and Testament: Determine how your assets will be distributed upon your passing and appoint a personal representative (executor) to oversee the process.
By establishing these foundational documents, you provide your loved ones with the tools they need to navigate potential challenges and ensure your wishes are honored.
Impact of Lack of Planning:
- Probate Court Involvement: Dying without a will can significantly increase the likelihood of probate court involvement. Probate can be a complex and time-consuming process, often involving legal fees and delays in distributing assets.
- Family Disputes: When individuals die without a will, state laws determine how their assets are distributed. This can lead to family disputes and disagreements, especially when there are unclear or conflicting claims to assets.
Building a Lasting Relationship
At Surprenant & Beneski, P.C., we believe in an ongoing partnership with our clients. Once you’ve established these foundational documents, we encourage regular reviews to:
- Assess your current plan: Evaluate its effectiveness as it relates to your evolving circumstances and goals.
- Identify areas for improvement: Make necessary adjustments to ensure your plan continues to meet your needs.
- Explore new options: Consider strategies for minimizing estate taxes, protecting assets for long-term care, and achieving other important objectives.
These complimentary reviews provide an opportunity to reflect, refine, and ensure your estate plan remains a true reflection of your wishes and priorities.
Take the First Step
Don’t let the complexities of estate planning overwhelm you. By focusing on these essential documents, you can take a significant step towards protecting yourself and your loved ones. Contact Surprenant & Beneski, P.C. today to schedule a consultation and begin building a personalized estate plan that provides peace of mind.
