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Topsfield Estate Planning Law Firm
Overview
My philosophy in planning an estate is ensuring that each and every one of my clients gets " a good nights sleep" because they have confidence that their estate plan meets all their goals. It is my belief that a good estate plan provides not only for asset transferal at your death but also provides for you during your life in case you become disabled. It is very important that your estate plan should provide how you are to be taken care of in case you are not able to take of your self. At your death, your estate plan should provide for the timely transfer of your assets. The transferal should be handled by the person(s) you want, for the lowest possible costs (reducing taxes and probate costs to the greatest extent possible ) in the most efficient manner possible. Taxes are always an estate planning concern but are not necessarily the determining factor in how you plan your estate. At the end of the day, you should be able to sleep knowing that what you have done is the right thing for you and your loved ones. There are enough things to worry about in this world without having to worry about your estate plan.
As all beneficiaries are not equal, your estate plan should treat them differently. For example, a child going through a divorce may be better served if his/her inheritance remains in a trust for a few years until he/she has recovered from the divorce. In addition, a twenty-year old who spends money as though there is no tomorrow should probably be treated differently than a thirty-year old who is mature in handling money and vice versa.
However, there is no reason why the divorced child will not recover sooner than expected from the divorce or the twenty-year old will not mature in the handling of money. An estate plan is something that should be reviewed periodically because changes in family and circumstances may necessitate changes(s) to the plan.
When planning an estate, I try to cover every "what if." It is not always possible to provide for every "what if." However, it is better to cover as many bases as possible than to just ignore them or leave a stone unturned.
I am often asked, "Am I too young to plan?" The answer is , "No." At the very least every person should have a simple Will. Having a Will is especially important if you have minor children. A Will is the only document in which you can name guardians for your children. Without a Will, a Judge, after minimal evidence will have to decide who should be named as guardian for your child(ren). The guardian named may not be who you want.
No matter what route you take in estate planning, you should always have a Will. You may be able to plan your estate so that the Will will not control asset distribution. However, it is always possible that something gets something goes awry. It is prudent to have the safety-net of a Will to ensure that your estate planing goals are achieved.
About The O'Connor Law Firm
Practice Areas
- Estate Planning
Published Works
- Wrote training modules and resource handbooks, University Research Corp., 1976-1980
- Wrote module components and edited copy, The Forum Corp., 1983-1988
- Team Writer, University Research Corp., 1976-1980
People
Attorneys
- Amy Conroy (Associate)
- Elizabeth A. Jones LLM (Attorney)
- William Francis O'Connor (Owner/Founder)
- Christine O. Smerczynski (Managing Counsel)
Staff
Fees
Accepts Credit Cards
Office Information
Address
16 S. Main Street Topsfield, MA 01983
Phone
Websites
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