Estate planning for North Andover families

Planning for North Andover families

North Andover is full of professionals and families who are building something, with larger homes, retirement and investment accounts, and often children who are still young. Ralph helps these families protect both the people and the assets, with a will, a trust where it fits, and the documents that let someone step in if you cannot.

Young children come first

The most important decision for a North Andover family with kids is guardianship, who raises your children if you and your spouse cannot. A will names that person. A trust then makes sure any money, including life insurance, is managed for your children rather than handed to them at eighteen. Ralph walks you through both.

The estate tax and a different court

Massachusetts taxes estates over two million dollars, far below the federal line, and many North Andover estates approach it once you add a home, accounts, and life insurance. The right trust can reduce or remove that tax. And if an estate does go through probate, for North Andover it is handled at the Lawrence division of the Essex County Probate and Family Court, not the Salem courthouse that covers the coastal towns. A good plan keeps your family out of it either way.

A North Andover example

Mark and Lisa live near the common with two kids in the schools, two solid retirement accounts, a home with real equity, and term life insurance through work. Add it up and their estate is close to the Massachusetts tax line, and they have never named a guardian. A will, a trust, and the right beneficiary setup fix all three. The first consultation is free.