Planning for Families With Children Lawyer
Most parents know that putting appropriate legal documents in place is important to protect their family in the event of a parent's disability or death. However, often parents are too busy taking care of their families to take this important step.
The Dedham, Massachusetts attorneys at Samuel, Sayward & Baler LLC are experienced in working with parents to identify which documents are important for their family's protection, help parents make the decisions that need to be made, and put those documents in place. Once a plan is in place, parents have peace of mind, and the plan can be changed over time as the family grows and circumstances change.
All parents should have a durable power of attorney in Massachusetts that allows their spouse or another trusted adult to make financial decisions if the parent becomes disabled. Creating a durable power of attorney in Massachusetts will allow a designated person to access bank and investment accounts, speak to the parent's employer or disability insurance provider about available benefits, and otherwise deal with financial matters important to a family's financial security in the event a parent becomes disabled.
All parents should also have a Will which names a legal guardian for their minor children (in Massachusetts, children under the age of 18). A legal guardian is the person who will have legal decision-making authority about where children will live, where they will attend school, what type of health care they will receive, and all other day-to-day decisions regarding the children's care and upbringing.
In Massachusetts, a parent's Will can also name a conservator who will have control over the assets of a minor child. Alternatively, parents may want to consider establishing a trust that will hold a young child's inheritance until the child reaches an age at which they are able to manage those funds on their own. The Trust will name a Trustee, an adult family member, lawyer or other professional, that will have authority to manage the Trust assets and use them for the child's benefit until they reach the appropriate age. Trusts are especially important for families with children with special needs, substance abuse problems, or other issues that make management of funds for the child's benefit crucial to their future well-being.
The Massachusetts estate planning attorneys at Samuel, Sayward & Baler LLC are experienced in guiding parents through the decisions necessary to put a plan in place for their family. To schedule an appointment, please call Janine Cronin at 781-461-1020.
