Estate Planning Packages
Basic Will Package
- Last Will & Testament
- Appointment of Guardian for Children (if applicable)
- Living Will
- Durable Power of Attorney
- Medical Power of Attorney
- HIPAA Authorization
- Beneficiary Designation Guide for insurance policies
- Beneficiary Designation Guide for retirement plans
- Beneficiary Designation Guide for investment accounts
- Payable on Death Guide for bank accounts
Trust: Single – No Children
- Revocable Living Trust
- Certificate of Trust
- Pour-Over Last Will & Testament
- Living Will
- Durable Power of Attorney
- Medical Power of Attorney
- HIPAA Authorization
- Assignment of Personal Property to Trust
- One Deed for Transferring Real Estate (filing not included)
- Instructions For Funding Trust
- Handbook for Trustees
- Personalized Estate Planning 3 Ring Binder
Trust: Single – With Children
- Revocable Living Trust
- Certificate of Trust
- Sub-Trust for (1) Child
- Pour-Over Last Will & Testament
- Living Will
- Durable Power of Attorney
- Medical Power of Attorney
- HIPAA Authorization
- Appointment of Guardian for Children
- Assignment of Personal Property to Trust
- One Deed for Transferring Real Estate (filing not included)
- Instructions For Funding Trust
- Handbook for Trustees
- Personalized Estate Planning 3 Ring Binder
Trust: Married – No Children
- Joint Revocable Living Trust**
- Certificate of Trust
- Pour-Over Last Will & Testament
- Living Will
- Medical Power of Attorney
- Durable Power of Attorney
- HIPAA Authorization
- Assignment of Personal Property to Trust
- One Deed for Transferring Real Estate (filing not included)
- Instructions For Funding Trust
- Handbook for Trustees
- Personalized Estate Planning 3 Ring Binder
Trust: Married – With Children
- Joint Revocable Living Trust**
- Certificate of Trust
- Sub-Trust for (1) Child
- Pour-Over Last Will & Testament
- Living Will
- Durable Power of Attorney
- Medical Power of Attorney
- HIPAA Authorization
- Appointment of Guardian for Children
- Assignment of Personal Property to Trust
- One Deed for Transferring Real Estate (filing not included)
- Instructions For Funding Trust
- A Trustee’s Guide
- Personalized Estate Planning 3 Ring Binder
Add On’s
- Joint Revocable Living Trust**
- Certificate of Trust
- Sub-Trust for (1) Child
- Pour-Over Last Will & Testament
- Living Will
- Durable Power of Attorney
- Medical Power of Attorney
- HIPAA Authorization
- Appointment of Guardian for Children
- Assignment of Personal Property to Trust
- One Deed for Transferring Real Estate (filing not included)
- Instructions For Funding Trust
- A Trustee’s Guide
- Personalized Estate Planning 3 Ring Binder
Frequently Asked Questions
What happens if I die without a will in Massachusetts?
If you die without an estate plan in Massachusetts, the distribution of your assets will be determined by the state’s intestacy laws, meaning the government will decide who inherits your property. Typically, this results in your spouse and children inheriting your assets, but the division may not reflect your personal wishes or family dynamics. For example, your spouse may not receive all of your assets, and other family members, such as parents or siblings, could inherit a portion. Additionally, if you have no surviving family members, your assets could escheat (transfer) to the state. By having an estate plan, you retain control over who inherits your property, ensuring that your assets are distributed according to your preferences and that specific individuals or causes are provided for as you wish.
What is the difference between a will and a trust in Massachusetts?
A will takes effect after you die and outlines how your assets will be distributed, whereas a trust takes effect as soon as it is created and can be used to manage your assets both during your life and after your death. Trusts also help avoid probate, which is a court process that can be time-consuming and expensive in Massachusetts.
How can I avoid probate in Massachusetts?
The best way to avoid probate is by creating a revocable living trust and transferring your assets into the trust during your lifetime. Other methods include designating beneficiaries on accounts and using joint ownership arrangements. Probate in Massachusetts can be a lengthy process, so many people prefer to plan to avoid it.
Do I need a lawyer to create a will or trust in Massachusetts?
While you can create your own will or trust, working with a Massachusetts estate planning lawyer ensures that your documents comply with state laws and that your plan will work as intended. A lawyer can also help address more complex issues such as tax planning, asset protection, and healthcare directives.
What taxes should I be aware of in Massachusetts estate planning?
Massachusetts has an estate tax with a threshold of $2 million. If your estate exceeds this amount, your estate may be subject to state estate taxes. Federal estate tax may also apply to larger estates – the federal exemption is currently $13.61M per person, $27M for married couples.
Can I change my estate plan once it’s created in Massachusetts?
Yes. You can modify or update your estate plan at any time. If you create a revocable living trust, you can change or revoke it while you are alive. Wills can be updated through a codicil or by creating a new will. It’s important to review your estate plan regularly, especially after major life changes such as marriage, divorce, or the birth of children.
How do I fund my trust in Massachusetts?
To fund your trust, you will need to transfer ownership of assets into the trust. This includes changing titles for real estate, bank accounts, and investment accounts to the name of the trust. You can also assign personal property and name the trust as a beneficiary of life insurance policies or retirement accounts. Properly funding your trust is essential for avoiding probate.