Elder Law Lawyer Warwick, RI
An elder law lawyer that Warwick, RI residents trust can tell you that an estate plan is one of the most important things you can make to protect yourself, your loved ones, and assets. To ensure that your wishes are followed, putting an estate plan together is highly recommended. Even if you are not a high-income earner, you can benefit from an estate plan. To learn more about how an estate plan can benefit you, contact a lawyer from McCarthy Law, LLC.
Elder Law Lawyer in Warwick, RI
The team at McCarthy Law, LLC has been helping clients with their estate planning and future healthcare needs for years. Knowing that you and your assets will be in good hands is critical. They know exactly what hardships people face when developing an estate plan that accommodates all of their needs. Knowing where to start in estate planning can feel like an overwhelming task. Regardless of what you want to include in your plan or what level of knowledge you have in regards to what you are looking for in one, a lawyer can provide you with valuable assistance. Contact a lawyer from our office today if you are in need of help.
Making the decision to hire an elder lawyer can involve many factors. You may be concerned about the additional expenses of obtaining legal help from a professional. You may be wondering if having a lawyer is the most appropriate course of action. Even if you have no concrete plan for your estate developed yet, hiring a lawyer can be highly useful. An elder law lawyer that Warwick, Rhode Island residents trust can explain your rights, educate you about estate planning and elder law, and provide you with legal advice.
The Importance of an Estate Planning
An estate plan consists of several legal documents that explain directives for how you want to be taken care of in the later years of your life, as well as directions for how your assets should be controlled and passed down to. Without an estate plan, your wishes may be ignored and your possessions and assets could be distributed in whatever way the state courts. While the process can be stressful, creating a thorough and detailed estate plan prevents a host of issues such as increased taxes and expenses and disputes between family members.
Estate Planning Pitfalls to Avoid
For those who do not know the basics of making an estate plan, it can be easy to make critical mistakes. Some of the following mistakes that you should avoid when making an estate plan include:
- Not naming a beneficiary
- Not including a Power of Attorney
- Not discussing your goals with loved ones
- Not updating your plan periodically
Protect and Secure Your Future
Taking the initial steps for developing a solid estate plan can make a big difference in your future. Not only can you protect yourself, but your family and loved ones will be grateful that you have an estate plan prepared. It is best to put together an estate plan while you are healthy before an emergency or significant life event occurs. Contact an elder law lawyer that Warwick, RI residents trust today if you have questions about estate planning.
Elder Law Lawyer in Warwick, RI
An elder law lawyer in Warwick, RI can help you plan your future – and your legacy. Mapping out how your estate should be handled after your death isn’t just good for your peace of mind; it’s good for your family, and it’s the best way to make sure they’ll stick together after your passing.
We all have our reasons, but most people try to avoid thinking about what should happen to their possessions after they die. It’s not always a cheery subject, but it’s important to spend time planning out what will happen to everything you’ve worked hard to build for yourself and your family over the course of your lifetime. Everything you’ve made for yourself over the years serves as a testament to your dedication to your family and friends – and it’s only fitting that they share in your work once you’re gone.
Fortunately, you don’t have to plan everything out by yourself. An elder law lawyer in Warwick, RI can work with you to create a will or living trust that you can count on, and the right attorney can help you navigate the complicated legal red tape that comes with your estate.
Wills and Living Trusts: Planning Your Future
Wills and living trusts are great ways to make sure your estate is divided fairly between your beneficiaries and according to your wishes. However, there are few key differences to understand before you decide on which is best for you.
Wills are typically easier to write up, but if you only leave behind a will, it means your family will have to go through the probate process. Probate is lengthy and frustrating, and there’s plenty of opportunity for infighting at every step. The entire process involves tracking down all of your assets and ascribing value to each of your possessions and then paying off any debts, fines, or taxes that may still be part of your estate. It can take several months, and there’s no guarantee your family will be satisfied with the arrangements, which means they can contest the will.
On the other hand, a living trust means your family won’t have to deal with probate. Unlike a will, a living trust requires more input over the course of your lifetime – this is why it’s referred to as a living trust – and you’ll need to add or adjust whatever assets are in the trust. As an added bonus, while a will is only really active after your death, a trust is active the moment it’s created.
Whatever option you choose, you should always consult with an elder law lawyer before making your decision. Fortunately, McCarthy Law, LLC, can help you plan for your future.
Reach Out to McCarthy Law, LLC Today
At McCarthy Law, LLC, we understand the importance of your legacy. A lifetime of achievements and investments should go to those you care about after your passing, and we know that it’s essential to do everything you can to ensure your assets go to the right place. By working closely with an elder law lawyer, you can gain valuable peace of mind by drafting up a satisfactory will or living trust.
Don’t leave the future up to chance. Contact an elder law lawyer in Warwick, RI today, and see how McCarthy Law, LLC can help you build a future for your family and friends.