How do I set up an estate plan?

Estate planning is an important step in ensuring that your assets and property are properly managed and distributed in the event of your death or other incapacity. In Massachusetts, there are a few steps you can take to set up an estate plan. First, you should create a Last Will and Testament. This document outlines how you want your property distributed among your heirs and beneficiaries after you pass away. It can also specify who should manage your estate when you are gone and who should be guardians for your children if they are minors. Second, you should create an Advance Directive. This document outlines your medical wishes if you become incapacitated and can no longer make those decisions for yourself. It includes a Living Will, which outlines your wishes regarding medical life-prolonging procedures, as well as a Health Care Proxy, which names someone to make medical decisions on your behalf. Third, you should create a Financial Power of Attorney. This document appoints someone to manage your finances if you become incapacitated and are unable to do so. Finally, if you have significant assets you should create a Trust. This document outlines how you want your assets distributed after you pass away. Setting up an estate plan is a vital step to ensure that your wishes are respected when you are gone. It is important to consult with an attorney to make sure your estate plan is in accordance with Massachusetts state laws.

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How do I set up an estate plan?

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