IT’S NEVER TOO LATE FOR AN ESTATE PLAN

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Kurt Hayes is a licensed practicing attorney in both Rhode Island and Massachusetts with 30 years of experience in estate planning and elder law.  His office is located at 21 Industrial Court, Seekonk, MA 02771 and can be reached via e-mail to Kurt@kurthayeslaw.com or at 508-226-3900.

Kurt Hayes is a licensed practicing attorney in both Rhode Island and Massachusetts with 30 years of experience in estate planning and elder law. His office is located at 21 Industrial Court, Seekonk, MA 02771 and can be reached via e-mail to Kurt@kurthayeslaw.com or at 508-226-3900.

Having practiced for nearly 30 years I have had the pleasure to assist many clients with estate planning.  Often I am asked the question of whether it’s to late to set up an effective, asset protecting estate plan.  The simple answer is no it is never too late.  In fact, as we grow older it becomes even more important to use the legal tools we have to protect our assets from Medicare/Medicaid liens, creditors and to avoid taxation.

The other common mistake I have seen is a client that has set up a good solid estate plan, but it is more than 10 years old.  The law in the area of estate planning is constantly changing and to be certain your estate plan is still providing you with the proper level of protection you should have an estate plan attorney review the plan to be sure it is still up to date.

A good estate planner will work closely with the client to answer questions, provide direction, make referrals to other professionals who may be important and to work within the budget established by the client to provide the best plan possible.

Your estate plan should include a will, durable health care power of attorney, living will, possibly a trust agreement and careful planning on what family members should do when you pass.  Many clients have the misconception that estate planning is not affordable, but this is not the case.  Not having an estate plan can be far more expensive and create more frustration for family members.

Lets face it.  We have all worked very hard to build our estate and we want to be sure our estate goes to the people, institutions or foundations we care about the most.  Don’t lose your money to taxes or have the state decide who should get your money, property and other valuables.  Effective, affordable estate planning is just a phone call away.

Next month I will discuss in more detail the durable health care power of attorney.

Kurt Hayes

21 Industrial Court

Seekonk, MA 02771

508-226-3900

Comments

  1. It is always a good idea to periodically check the beneficiaries on all of your policies to ensure who is listed is who you want. Having an estate plan and reviewing that periodically is of importance too – great points, thanks for sharing!

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