Hingham Estate Planning Attorneys
The Baker Law Group offers experienced legal representation to guide you through the estate planning process. With offices in Hingham, Plymouth, Brockton, and Holliston, we assist Massachusetts residents to develop or refine their estate plan.
Planning for Your Future
Estate planning is a process that allows a living person to create detailed arrangements for the disbursement of their property and assets upon death. With an estate plan, your assets will be distributed according to your wishes. The process works to avoid any confusion or uncertainty. A Hingham estate planning attorney can help you create an estate plan that is right for you.
Arranging for Future Life Events
Estate planning can involve much more than simply creating a will. You can make an individualized plan based on your unique life situation and what types of life events for which you would like to plan. Our estate planning attorneys can help residents in Massachusetts plan for life events such as:
- Physical and legal incapacitation
- Care of Dependants
- Nursing Home Admission and Long-term care
Benefits of Estate Planning
Estate planning is beneficial for both you and your family. By planning ahead for major life events, you can be more certain that your family will be taken care of and that your money and assets will be distributed to the people and entities of your choice. Estate planning can also help you avoid or decrease the estate taxes that could apply to your estate.
Death is always a difficult time for families. Relatives of the deceased may have to plan the funeral and make arrangements to lay their loved one to rest, all while grieving from the loss of their loved one. Dying without a will is called intestacy and can cost one’s family a great deal of time and money. Our estate planning attorneys can help you create an estate plan to eliminate any added stress on your friends and family upon your death.
Your estate plan can provide the following.
- Appoint a trusted guardian for minor or disabled children, or elderly relatives
- Provide support for disabled or minor children
- Minimize the taxes that will be applied to your estate
- Articulate your wishes in the event of a medical emergency
- Ensure that your surviving spouse and children will continue to receive income and support
- Leave your money or property to charitable organizations
- Save your family time and money on the estate administration process
Estate Planning Tools
There are various tools that can be used to plan an estate:
Last Will and Testament
A wills is the primary legal document used to transfer property in an estate upon death. It designates who will inherit property and assets, and names the executor who will distribute your estate.
A will can contain additional instructions for things like the disposition of your body after passing, where you would like to be buried, and who you would like to care for your pet. A will can also name a guardian for your minor children. In Massachusetts, anyone over 18-years-old can create a will.
Dying without a will is called intestacy and requires the use of complicated Massachusetts law to divide your assets.
Trusts are a way to transfer your assets or property to a beneficiary through the use of a separate entitity. Trusts have many uses, including avoiding probate and minimizing estate taxes. Your estate plan can define the specific details of a trust including how and when the assets will be distributed.
Trusts can come into effect during your lifetime, or can be created through your will upon your death. There are many different kinds of trusts. In Massachusetts, the type of trust determines what type of tax applies. Life insurance policies are a very common type of trust. Our attorneys will recommend the best trust for your estate plan. Read more on Types of Trusts.
Powers of Attorney
A durable power of attorney is an authorization for someone else to make decisions on your behalf, including decisions about your property and financial decisions. You can choose the scope and purpose of the authorization. This document remains in effect if you become disabled or incapacitated, and authorization can be permanent or temporary or revocable.
Read more Durable Powers of Attorney.
Owning a property in joint tenancy with another person allows the property to automatically pass to that person upon your death. Other assets such as bank accounts and cars can also be owned in joint tenancy. A will is not needed to transfer a property through joint tenancy.
A prenuptial agreement (often referred to as a “prenup”) is a way to protect your assets if you get divorced. A prenup is a contract between you and your future spouse that is signed before the marriage. The agreements usually include provisions for spousal support and division of assets. Many also include infidelity clauses. If you are already married, postnuptial agreements serve the same purpose as prenups. Read more Premarital Agreements.
Instead of privately drafting a will with your attorney, mediation includes your family in the discussion of your estate plan. It is a great way to avoid surprises in your will that could lead to conflict between your family members after your death. Wills can include a mediation clause, which mandates mediation instead of litigation to solve disputes over your will.
Estate Planning Lawyers Can Help
Life is uncertain and it is important to plan for the future in order to ease the burden on your family and friends when uncertain events occur. Regardless of the size of your estate, an estate planning lawyer will work with you to create the best estate plan for you and your family. Contact Baker Law Group today 781-996-5656, toll free at 800-701-0352, or email firstname.lastname@example.org and let our attorneys assist you in planning for your future.