One of the most important factors that an individual will have to address at some point in their life is estate planning. Planning one’s estate can be incredibly beneficial and provide significant peace of mind to an individual and their loved ones. In an estate plan, the individual may want to address a variety of matters that can be beneficial to one’s future. Some of the factors that are often included in an estate plan are wills, trusts, and health care proxies.
A will allows an individual to outline their wishes regarding the future of their estate. After an individual passes, the executor of their estate will distribute assets to beneficiaries. In Massachusetts, a valid will requires two witnesses and the individual creating the will must be of sound body and mind.
Another way to hand down assets is through a trust. Trusts do not have to go through Surrogate’s Court and typically allow the individual to avoid paying taxes on the assets.
Finally, a health care proxy allows an individual to outline the care that they wish to receive if they ever become incapacitated. They may also appoint an individual to appoint someone to act as a representative on their behalf.
If you need help estate planning in Massachusetts, contact our firm 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.