It can raise a lot of questions when a family member or friend invites you to be the personal representative of their will. They may assume that you are responsible, organized and capable of handling the fiduciary responsibility of managing their estate. This is an honor, but this is also a great deal of work…. Read More »
Posts Categorized: Wills
How Often Should You Review Your Will and Power of Attorney?
Most people think of estate planning as something that simply must be done. But the truth is that it’s an activity that starts with an initial meeting with an estate planning attorney and should be evaluated every couple of years along with other major life events. If you let your estate plan sit for years… Read More »
Why Is a Residuary Clause So Important?
In crafting your will, you probably sat down to make a comprehensive list of all of your assets and liabilities. This is so that you can create a specific bequest to your loved ones so that they receive the items you promised to them or that you intend for them to have. But a common… Read More »
At What Age Should I Create a Will?
This common question is one that comes up because most people wait until they are much older to create a will. But creating a will now can help you and your loved ones in the event that the worst happens. No one wants to contemplate their own mortality but any person aged 18 or older… Read More »
Which Assets Are Not Subject to Intestate Succession?
Some assets do not pass through a will. This is because every state has intestate succession laws which allow property to be passed on to surviving family members in priority order even when no will exists. Typically only blood relatives and spouses are eligible to inherit under intestate succession laws. This means that charities, friends… Read More »
Which Assets Are Not Subject to Intestate Succession?
Some assets do not pass through a will. This is because every state has intestate succession laws which allow property to be passed on to surviving family members in priority order even when no will exists. Typically only blood relatives and spouses are eligible to inherit under intestate succession laws. This means that charities, friends… Read More »
How to Start Estate Planning with Beneficiaries and a Will
You might have already completed some of the estate planning process without realizing. If you have a retirement savings account or a 401(k), you’ve probably already established a beneficiary designation form. This gives instructions to the company about who is eligible to receive the assets inside this account if something happens to you. Beneficiary designations… Read More »
How to Use a Personal Property Memorandum with Your Will
When you sit down to create your will, this is probably driven primarily by your desire to decide who will be appointed as the guardian for your minor child and who will receive your property when you pass away. Part of this decision-making process, however, is about how much detail you intend to go into… Read More »
Three Questions to Ask Yourself Before Making a Will
Studies show that up to 70% of Americans don’t have the most basic of estate planning documents in a will. This legal document can accomplish multiple goals and is often the cornerstone of a good Massachusetts estate plan. This legal document outlines who is eligible to take care of your minor children if something happens… Read More »
Is My Will a Matter of Public Record?
When you create a last will and testament, there are many different questions that you must answer, including who should receive your investments, business interests, real estate, and personal property. But one important aspect of creating a will in Massachusetts that is often overlooked is that, upon your death, the will must be filed with… Read More »