Estate planning is an important process that should be considered by everyone at some point in their life. It involves making critical decisions about how your assets will be distributed after you pass away. Many individuals put off estate planning because they believe it is only for the wealthy or elderly, but this is not the case. Regardless of your age, income, or family situation, estate planning is a crucial step in securing your legacy and safeguarding your loved ones. In this article, we will share some helpful tips on how to get started with estate planning. To begin, take inventory of your assets, decide on your beneficiaries, choose an executor, create a will, and consider a trust. By following these steps, you can ensure that your wishes are carried out and your loved ones are taken care of. Start estate planning today!
Posts Categorized: Probate
Why Is Probate in MA Problematic? An Estate Lawyer’s Perspective
One of the most complicated aspects of resolving someone’s estate and filing a will is the probate process. Probate occurs in all states throughout the country and involves the appointment of an executor in some places, known as a personal representative, to oversee the distribution of assets. Is an Estate Lawyer Right? Should I Avoid… Read More »
Have You Stressed Tested Your Estate Plan?
An estate plan should be aligned with your goals as of today, but flexible enough to be adaptable in the future. You can start the estate planning process by thinking about the assets you own and the liabilities you would owe when you pass away, but you also need to ask important ‘what if’ questions…. Read More »
Can You Avoid Unnecessary Probate Costs?
After you pass away, your estate will most likely go through a process known as probate. This estate administration process can be time-consuming, very involved for the executor appointed to handle these matters, and costly. It can also be frustrating for your heirs. The good news is that you can usually avoid probate with some… Read More »
What Are Probate Fees in Massachusetts?
When you pass away and a loved one or a family friend is appointed in the role of handling the estate, probate fees might apply. Common fees associated with probate in Massachusetts include probate or administrator bonds, land survey accounting or appraisal fees, services provided by a probate lawyer, if hired, and personal representative compensation…. Read More »
What Final Bills Will Get Paid Out of My Probate Estate?
One of the most important steps that happens after a personal representative is appointed to your case, is the determination of date of death values. All assets that you owned inside your probate estate must be valued so that they can be liquidated to raise cash, to pay for debt taxes, debts, and expenses. It… Read More »
How Long Does Probate Take in Massachusetts?
The complexity of any individual estate will determine how long it takes to get through probate. The time necessary to probate a will in Massachusetts will depend on numerous factors, particularly how involved the Internal Revenue Service is with regards to settling or closing out an estate. You will want to be prepared to speak… Read More »
Is My Estate Eligible for Informal Probate?
Informal probate is one method of streamlining your estate administration to make things simpler for your loved ones after you pass away. Hearings for informal probate are not required under informal probate procedures. There are several circumstances that block informal probate, including: No confirmed death certificate The original will’s location is not identified The person… Read More »
What Must Be Done to Start Massachusetts Probate?
If you have been named as a personal representative in another person’s will, you need to understand the overall process of Massachusetts probate. There are many different important steps that need to be taken as soon as possible after the deceased passes away. The first thing to note is that probate must occur in the… Read More »
Does an Estate Always Have to Be Probated in Massachusetts?
Many people are confused about the different laws that might apply to a Massachusetts estate. This has relevance for you as an individual, and also for loved ones who are stepping in to handle the administration or probate of a loved one’s estate. What is Massachusetts Probate? Probate in Massachusetts refers to the formal process… Read More »