Estate planning is an important piece of financial management which is often neglected. It can be difficult to answer questions such as; “How will my assets be divided among my loved ones when I die?” Without a plan in place, settling your affairs could continue long after you pass on. Even if you’re younger, a complete estate plan will make sure you have a plan for the future in place if the unexpected happens.
Hiring a professional with estate planning experience is the best way to make sure you develop a plan that accounts for your entire estate. A trusted professional can help you with an estate plan tailored for your specific needs and offer advice so you can make informed decisions.
Special Considerations for your Estate
It is important to consider the size of your estate, the type of property within your estate and the number of beneficiaries receiving assets within your estate planning strategy. Planning for a guardian to manage assets which are left to children can also be a key consideration.
Local Estate Law
Estate law in Massachusetts covers a wide variety of areas and making sure you’ve considered all aspects of your estate and how it is taxed can be critical to achieving a comprehensive plan.
Avoiding Unwanted Conflicts
An estate plan may allow you to determine who gets which assets and prevent unintended beneficiaries. Designating heirs for your assets is the main component of estate planning and without a plan in place, the courts may decide who gets what. The process may take years, leading to legal fees, discourse between family members and may result in unintended beneficiaries receiving assets you have worked your whole life for.
Expert Estate Planning Services
The CFP® professionals at LTR Financial Services offer a broad scope of financial services to help develop an estate plan which is right for you. Having a wide range of services available, LTR is able to give you a complete view of your financial health through the use of our extensive knowledge in:
- Investment Planning
- General Insurance
- Federal and State Intestacy Laws
Schedule a consultation with LTR Financial Services today to find out more about how our estate planning services can help you plan the future. The professionals at LTR understand that everyone has different situations to consider when developing an estate plan and only offer financial advice that is in your best interest.