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Woburn Incapacity Planning Lawyer

It can be unpleasant to think about becoming incapacitated, but planning ahead means not living with regrets, and that’s an important aspect of an estate plan. Incapacity planning is essential in that it can help to protect your interests in the event that you suffer a medical emergency.

In the event that you’re ever unable to make decisions for yourself, having a comprehensive incapacity plan can prove extremely important. Do your incapacity plan today, so it’s in place if you ever need it. Contact our estate planning attorney at The Heritage Law Center to get started today. Our qualified lawyer is here to help provide you with the right information through compassionate and personalized service. By understanding your individual concerns and estate planning needs, we can help you establish essential incapacity planning legal documents, such as a durable power of attorney, durable power of attorney for health care, and a living will.

A Durable Power of Attorney

One type of incapacity planning document is a durable power of attorney. This is a legal document that allows you to choose someone to act in your place when it comes to your private affairs, business, financial, or legal matters should you become incapacitated. This individual is commonly referred to as an “attorney-in-fact,” and should be someone whom you trust as they will have the legal right to handle your investments, pay your bills, manage your property, and implement your business succession planning.

There are two types of durable powers of attorney: present and springing. Present durable powers of attorney immediately transfer power to your attorney-in-fact (even if they won’t be used until needed), while springing powers of attorney only transfer power once you become disabled. Your physician must confirm you’re incapacitated for a springing power of attorney, which could take some time.

If you don’t create a durable power of attorney it can take time and money for your loved ones to obtain the legal authority from the court to handle your financial matters. By creating a durable power of attorney, you eliminate the need for court and attorney fees, thereby avoiding much aggravation for your loved ones with proper estate administration.

A Durable Power of Attorney for Health Care

Another incapacity planning document is a durable power of attorney for health care, commonly referred to as a health care proxy. A health care proxy is an advance medical directive that, similar to a durable power of attorney for your finances, allows a trusted loved one to make decisions regarding your medical care in the event that you’re incapacitated. This individual would work with your physician to carry out your wishes regarding medical treatment. However, you can choose whether or not to limit this individual’s authority to decisions on certain treatments only or to make all medical decisions.

A Living Will in Case of Incapacitation

Another type of incapacity planning document is a living will, which works in conjunction with a health care proxy. A living will helps explain how you wish to be treated in the event that you become terminally ill and unable to communicate your desires.

A common measure in a living will is whether you want to sign a Do Not Resuscitate (DNR) form if you’re actively dying (near death). This informs medical personnel not to administer cardiopulmonary resuscitation (CPR) in order to keep you alive. A living will can also help to determine if you should be put on a ventilator or a feeding tube, or if another life-sustaining measure should be taken.

Additional Health Care Directives for Incapacity Planning

It’s really important that you allow your family members / loved ones and your doctors and healthcare providers access to your medical history and records so that they can act per your wishes and in your best interest. In order to allow people access to your medical information, you must fill out and sign a The Health Insurance Portability and Accountability Act (HIPAA) document.

What If You Don’t Have an Incapacity Plan?

If you don’t establish an incapacity plan, the state of Massachusetts will essentially do so for you. The court will appoint individuals to make all of the above financial, legal, and medical decisions for you, whether or not they’re aware of or agree with your wishes. By creating an incapacity plan you can help protect your loved ones from having to spend unnecessary time and money and can bring both them and yourself peace of mind in knowing that they are making the “right” decisions.

Free Report

You can find more information on a proper estate plan in our free Estate Planning Essentials Report.

Contact Our Massachusetts Incapacity Planning Attorney

Planning for the possibility of incapacity will give you the peace of mind that you and your assets will be well taken care if you should ever become incapacitated.

Contact our law firm now to schedule a confidential consultation. We can help you put together a comprehensive incapacity plan.

Woburn Asset Protection Attorney

At The Heritage Law Center located in eastern Massachusetts, we know how much work you’ve put in to accumulate the assets that make your family secure, and how eager you are to protect both your nest egg and those you love. While you doubtlessly want to build on that foundation and increase your financial well-being, our estate planning team understands that you need the peace of mind that comes from knowing your assets are protected now and in the future.

As a savvy asset protection attorney, Matthew Karr, Esq., will use legal techniques to help preserve your wealth and safeguard your assets. His years of experience in the field of estate planning have provided him the in-depth knowledge and well-honed skills to strategize a comprehensive plan to protect your assets from excessive taxation, creditors, and a variety of other dangers. It’s important to be proactive about protecting your assets since the economy is unpredictable. By working with us, you’ll feel the relief of knowing your assets and your family are financially safe.

What Is Asset Protection and What Are We Protecting Your Assets From?

Even seemingly well-protected assets—in strong boxes, carefully chosen investments, insured collections, stable bank accounts—while definitely safer than money stuffed in mattresses, may be at risk from a number of hazards, such as:

  • Excessive taxation
  • Unpaid debts
  • Predatory lenders
  • Scams or fraudulent schemes
  • Long-term medical and nursing care costs
  • Expensive probate 

There’s no shortcut to asset protection, and this isn’t a do-it-yourself project. The process requires professional legal assistance by a knowledgeable asset protection lawyer like our own Matthew Karr, Esq. Matthew is savvy about how best to insulate your hard-earned assets from forces that seek to diminish your estate and weaken your legacy. He’s successfully helped many clients safeguard their assets by using estate planning tools and techniques.

Our Comprehensive Legal Knowledge Regarding Asset Protection

At The Heritage Law Center, our law firm prides itself on having keen insight as well as comprehensive knowledge of state and federal law. You can rest assured that the information we share with you is completely current and that we know how to protect assets. Also, we’ll debunk the misconceptions that abound in this area of estate planning and its related legal issues. You should always consult with us before you give a gift to a friend or put property in the name of your corporation in order to avoid taxation or a large debt. In fact, even an inherited IRA may be fair game for creditors.

The Unpredictability of Life Requires Asset Protection

You may feel confident that you’re too fit to need nursing care in the foreseeable future, too sharp to be taken in by a fraudster, and too friendly and flexible to be involved in a lawsuit. However, the unpredictable does occur and can become reality in the blink of an eye.

Long-Term Medical or Nursing Care Can Quickly Deplete Assets

You’ve likely heard about people suffering catastrophic injuries while riding home from the drug store, or falling victim to heart attacks while having a quiet dinner with friends. A spinal cord injury, a stroke, multiple fractures—any one of these can suddenly alter your life and use up your savings. Also, unless you have properly prepared, your assets may prevent you from being eligible for government benefits. If you or your loved one needs long-term care in the future, it’s important to plan now for MassHealth eligibility so you can get the services you need without losing your life savings.

Scams and Schemes Can Rob You of Assets

Similarly, you likely know or have read about someone intelligent who was fleeced out of a large sum of money by a scam artist or con man. Successful con artists can skillfully overcome an intelligent person’s defenses and get that person into an emotional state that overrides logical thinking. Don’t be so sure that you wouldn’t succumb to doubt and fear during a 3 a.m. phone call if someone claiming to be a police officer says your grandson is in jail.

Lawsuits Galore

In our extremely litigious country, it’s also unwise to bet on the fact that you’ll never be sued for an enormous amount of money by another driver, a neighbor, an employee, or a business competitor. If you’re a professional, you may well be sued by a student, a patient, a legal or financial client, or even an assistant. Every day, individuals’ life savings are put in jeopardy by lawsuits claiming:

  • Malpractice liability
  • Premises liability
  • Personal injury
  • Sexual harassment
  • Fraudulent claims not easily disproven
  • Domestic violence

The legal system can be imperfect, so it’s essential to protect your assets from lawsuit verdicts that demand a large, unfair settlement.

What Our Asset Protection Attorney Can Do

As an accomplished asset protection attorney, Matthew Karr, Esq., can use a large number of preventive measures to keep your wealth, property, and possessions secure. We recognize that you come to us with a unique set of circumstances, so we make sure our asset protection strategies serve your particular needs. We’re also sensitive to your privacy, realizing that we’re being trusted with personal information about your funds and your family.

Free Estate Planning Reports

You can find more information about estate planning and how to protect assets in our free reports: Estate Planning Essentials Report and Massachusetts Estate Planning: Saving on Taxes Report.

Contact Our Woburn Asset Protection Attorney

Don’t procrastinate when it comes to asset protection and keeping your estate intact. Not only will getting in touch with us give you a sense of security; it will ensure that those who depend on you can look forward to a brighter future. Contact our law firm now for a consultation.