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Avoid Probate Headaches and Protect Your Assets with Proper Estate Planning

By Arlene M. Keating, Newburyport.Com Correspondent
Attorney-At-Law, for Arlene M. Keating LLC, with over 25 years of legal experience, Arlene is an expert in estate planning.
Arlene M Keating LLC
Avoid Probate, Arlene Keating, Newburyport MA

While unfortunately death is unavoidable, probate is not. Put in the time upfront to avoid unnecessary cost, time and stress. Our firm is fully equipped to handle the probate process for our clients in MA and NH, but our focus is helping them to avoid probate altogether.  We do this by evaluating each situation and putting the right estate planning tools to use, including:

 

 

  • Wills
  • Durable Powers of Attorney
  • Health Care Proxies
  • Living Wills
  • State and Federal Estate Taxes Evaluation
  • Asset Protection
  • Trusts
  • Revocable Trusts (Living Trusts)
  • Homestead Declarations
  • Irrevocable Trusts

Nationwide polls show that the majority of adults in the United States either have inadequate estate plans or no estate plans at all. The grieving families of decedents without proper estate plans will be left to struggle with everything from end-of-life care to the payment of rent and property expenses. Meanwhile, the assets of the estate will be tied up in a lengthy and expensive probate process. For the sake your loved ones it is critical to invest the time necessary to develop a sound estate plan.

What do the 25-year-old bank teller and the 62-year-old investment banker have in common? They both need an estate plan. The idea that young people or people with modest assets don’t need to worry about estate planning is completely false; the only difference will be the exact composition of their plans.

This is where it becomes important to have a tailored approach to your estate plan. With over 25 years of experience, Arlene M. Keating, LLC. is ready to guide you through every step of the estate planning process, keep your assets safe and avoid probate. Contact us today at 978-363-1400or arlene@arlenemkeatingllc.com to get started. Let us help protect your assets, avoid probate and give you peace of mind.

See more at:https://www.newburyport.com/estate-planning/#sthash.A0HCfaqB.dpuf

Inheriting Debt from a Family Member

By Arlene M. Keating, Newburyport.Com Correspondent
Attorney-At-Law, for Arlene M. Keating LLC, with over 25 years of legal experience, Arlene is an expert in estate planning.
Arlene M Keating LLC
Estate Planning | Arlene Keating - Newburyport Attorney

Estate Planning can be an uncomfortable subject for some since it deals with how affairs are to be handled after we pass away, or if we should ever become incapacitated. However, it’s the process of preparing our assets, and if handled properly, will maximize the value of your estate by reducing taxes and other expenses.

Unique to each client, Estate Planning varies based on the needs and complexities of each circumstance, including designating guardians to minor children and beneficiaries for adults not able to make decisions on their own. In these cases, the process can overlap with Elder Law.

When a loved one passes away, the furthest thing from your mind is addressing his or her outstanding debt, however many of us find ourselves dealing with creditors while grieving.

In many cases, the deceased persona’s assets are used to pay creditors, but in some cases there isn’t enough.

This means if you’ve cosigned on a credit card with the deceased person, you assume the total debt on the card, otherwise family members are not responsible for the credit card debt.

However, debt collectors may be aggressive, so know your rights and don’t be bullied. Get your questions answered! Contact Estate Planning specialist Arlene Keating, Attorney-at-Law for assistance.

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