While planning for death does not sound ideal, it can be very beneficial for an individual to do. This can be done through an extensive estate plan. By creating an estate plan, an individual is able to plan for what happens to their assets when their life is over. This allows them to protect these items by ensuring they are passed down to the loved ones they desire.
In creating an estate plan, people typically write a will. A will is a document that outlines an individual’s wishes for their estate including how they want their assets to be taken care of and distributed after their death. During this time, it can be beneficial to enlist a skilled attorney to guide you through the process.
Why is a Will Important?
When a person reaches the end of their life, they sometimes have many cherished possessions. These are things that should still be taken care of after they are gone. This can be done through the creation of a will to pass them down to loved ones who can continue to look after and maintain them. Through writing a will, a person can choose where they want their assets to end up. By designating in writing, it ensures there are no complications and their assets do not fall into the wrong hands. This also helps to prevent any worry about where the assets would go in the event that a will was not created.
When an individual creates a will, they are known as “testate”. If a person passes away without creating a will, it is known as dying “intestate.” When a person dies intestate, there is no explicit intent of where their assets should go. When this happens, the deceased’s loved ones do not have control of their estate. Instead, the estate can be controlled by the state of Massachusetts. This gives the state the right to decide where the individual’s assets go. The assets are then typically distributed by a succession schedule. The succession is dependent on the surviving family members of the deceased including children, parents, grandchildren, and siblings. Each distribution is dependent upon the situation of the family in question. This can be a motivating factor to create a will so that you have a plan for life after death and prevent the confusion of intestate succession.
Contact our Firm
If you or a family member is looking to create a will for your estate and wish to speak with an experienced attorney, contact the Law Offices of Cynthia L. Hanley, P.C. today.
If you require compassionate and knowledgeable legal guidance for a matter of divorce, family or estate law, please contact the experienced attorneys at the Law Offices of Cynthia L. Hanley today. Our firm proudly serves clients in Mansfield, Massachusetts and throughout Bristol County.