Estate Planning

The Role of the Massachusetts Estate Planning Attorney

True estate planning in Massachusetts involves assembling a number of important documents to create a coherent, holistic plan. At the Law Office of Matthew A. Rubner, we refer to this holistic estate planning as 360-degree planning.

You may be asking yourself, “Do I need a Massachusetts revocable living trust?” Your answers will begin with facing some necessary questions. What happens to you, your loved ones, and your business or investments if you become disabled? Do you have a plan for someone to take care of you or manage your legal and financial affairs? Will that person have the necessary instructions backed by the appropriate legal documentation to do so? As your Massachusetts trust and estate planning attorney, we can help you make sense of these difficult questions.

Will your Massachusetts assets be properly titled so that your loved ones can help you?

This is a lot to think about.

The good news is that it does not have to be complicated to create a plan that makes sense for you and your loved ones.

Did you know that without a Massachusetts revocable living trust, your estate will likely need to be settled through the Massachusetts probate court system? This process could cost 3% to 5% of your estate and may take as long as five years. If you have property in various states, that cost will increase dramatically as your estate will have to be entered into probate in each state where assets are held. With a revocable living trust in Massachusetts, the administration of all of your estate assets can be made simple because your successor trustee can handle all these matters rather than the courts. As your Massachusetts trust and estate planning attorney, we will help you and your loved ones avoid the cumbersome probate process.

In preparing wills, revocable living trusts, and other estate planning documents, a Massachusetts estate planning attorney has the moral and ethical responsibility to ensure your desires are carried out. That’s why thorough Massachusetts estate planning involves more than just filling out forms.

While a Massachusetts revocable living trust may greatly benefit your estate by providing a means to avoid probate or plan for disability, other documents are also extremely important components of your 360-degree estate plan. Additionally, you may need an updated Massachusetts durable power of attorney and a Massachusetts health care directive.

The process of compiling the needed documents to complete your Massachusetts estate plan often involves questions that require direction from accountants and other financial professionals. Not every estate planning attorney in Massachusetts will take a proactive course of action on your behalf to ensure your goals are met. As your Massachusetts trust and estate planning attorney, we will partner with your other financial and tax advisers, at your specific direction, to create a team approach to your estate planning.

Your Massachusetts Estate Planning Attorney is an Integral Part of Your Estate Planning Team

We offer plans to maintain your future through regular interaction.

Annual Updates: You will receive an annual update to your trust and medical directives, if required by statute or tax law changes.

Amendments: We will amend your wills and trust documents if you’ve experienced a change in circumstances.

Deeds: We will transfer any new properties you may have purchased after your trust was funded.

Discounts: You will receive a 25% discount on our fees if you need amendments to your wills and trust documents for reasons other than those required by statute or tax law changes, which are included in the program.

Annual Maintenance Workshop: You will be invited to attend our annual workshop where we will discuss law changes and new programs that may be beneficial to your estate plan.

As a trusted estate planning lawyer in Massachusetts, my mission is to assist individuals and families in safeguarding their assets and securing their legacies for generations to come. Estate planning is a critical process involving vital decisions about asset distribution, healthcare directives, and guardianship for minor children. In this blog post, I will underscore the importance of estate planning, shed light on key elements of the process, and highlight how our firm can guide you through the intricacies of wills and trusts in Massachusetts.

Understanding Estate Planning in Massachusetts:

Estate planning is a proactive approach to preparing for the management and distribution of assets in the event of incapacity or passing. In Massachusetts, estate planning entails crafting a comprehensive plan addressing various aspects such as wills, trusts, powers of attorney, healthcare directives, and guardianships. A well-designed estate plan not only ensures your wishes are honored but also minimizes conflicts and reduces tax obligations.

The Role of an Estate Planning Lawyer:

While generic estate planning documents are available online, collaborating with an experienced estate planning lawyer offers numerous benefits. Our firm specializes in understanding Massachusetts state laws and tailoring estate plans to individual needs. We take the time to listen to your objectives, educate you on available options, and navigate legal complexities to craft a personalized estate plan that provides peace of mind.

Drafting Wills and Trusts:

Wills and trusts are fundamental components of a comprehensive estate plan. A will delineates your preferences regarding asset distribution, appointment of guardians for minor children, and selection of an executor to oversee estate administration. Conversely, trusts offer added flexibility, control, and privacy. With guidance from an estate planning lawyer, you can establish trusts that safeguard assets, minimize estate taxes, and efficiently transfer wealth to beneficiaries.

Probate and Trust Administration:

Probate, the legal process validating a will and supervising asset distribution, is essential for many estates. However, effective estate planning can mitigate complexities and expenses associated with probate. Additionally, our firm aids in trust administration, ensuring adherence to trust terms, proper asset management, and rightful inheritance distribution to beneficiaries per your wishes.

Minimizing Estate Taxes:

Massachusetts, akin to numerous states, imposes estate taxes on larger estates. Nevertheless, strategic estate planning can mitigate or eliminate these tax burdens. Through strategies like gifting, charitable planning, and trust establishment, an experienced estate planning lawyer can safeguard assets and maximize wealth transfer to loved ones.

Reviewing and Updating Your Estate Plan:

Estate planning is a continual process. Life events and legal changes necessitate periodic review and updates to your estate plan. Whether experiencing major life events like marriage, divorce, or birth of a child, or encountering shifts in tax laws, maintaining an ongoing relationship with your estate planning lawyer ensures your plan remains current and aligned with your wishes.

Conclusion:

Estate planning is pivotal in securing your legacy and safeguarding loved ones. With guidance from a skilled Massachusetts estate planning lawyer, you can navigate wills and trusts intricacies, ensuring asset distribution aligns with your desires while minimizing potential tax liabilities. Reach out to our firm today to embark on creating a comprehensive estate plan that fortifies your future and affords peace of mind for you and your family.