Our attorneys will devise an estate plan customized to fit your needs, so that upon your death, your property will be transferred according to your wishes, with the least amount of hassle. We can help you make your wishes known and provide for your family. Basic estate planning includes a will, durable power of attorney, and health care proxy. Many clients seek additional planning including trusts and life estate deeds. We are here to make the best recommendation for you.
Planning for your loved ones' future
Pass your assets to your loved ones upon your death
Your will is a legal document that provides instructions to be carried out after your death. A will gives you the opportunity to decide how your assets should be distributed when you die.
In your will, you nominate a Personal Representative to distribute your assets according to your wishes. If you have minor children, you will nominate a guardian, to be responsible for your children in case you die before they turn 18.
If you die without a will (referred to as intestate), Massachusetts law will determine the beneficiaries of your estate. A will is important to make sure that your loved ones will be taken care of after your death.
Take control by deciding who will make decisions if you can't
A Health Care Proxy allows you to designate someone to make medical decisions for you in the event that you can no longer make decisions for yourself. Executing a Health Care Proxy allows you to decide who will make these critical decisions. Without a Health Care Proxy, your loved one's may have to go to court to obtain a guardianship if you become incapacitated.
A Power of Attorney allows you to designate someone to handle your financial affairs. This will be critical if you are ever in a situation where you can no longer manage your own finances. You must be very careful when appointing someone as your agent under a Power of Attorney, as unlike the Health Care Proxy, the authority to act often goes into effect immediately, not just if you are incapacitated. You must choose someone that that you trust.
Health Care Proxy
Power of Attorney
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Trusts give you greater control and flexibilty over your assets
Trusts give you greater control over your assets during your life and after your death. A Trust provides privacy and should be considered in any case where:
Your estate exceeds $1 million dollars, a trust may help you avoid estate taxes. (Note the federal threshhold is $5 million, but MA imposes a tax upon any estate exceeding $1 million.)
You wish to include any person with a disability in your estate plan
You own property in more than one state.
You wish to include minor children in your estate plan.
You are in a second marriage, with children from a prior marriage.
You want to keep your affairs private.
You want to avoid probate.
You want to retain greater control over your assets, even after your death.
You are healthy and want to consider planning for Medicaid in the future