MASSACHUSETTS ESTATE PLANNING LAWYER
PRACTICAL SOLUTIONS FOR ESTATE PLANNING
Planning for your family's future is extremely important. Choosing the best attorney to assist you is just as important. The Massachusetts estate planning lawyers at Murray Law have been protecting families and their assets for over 30 years. Our team can be an invaluable resource in serving our clients' best interests.
LAST WILL AND TESTAMENT
The idea of a Will is simple. A Will is a legal document, which states the maker's directions regarding the disposition of his or her estate after death. The Will is essentially a roadmap through the probate process, and it provides for naming the person(s) responsible for overseeing the settlement of the decedent's estate. In Massachusetts, this person(s) is usually called the Personal Representative.
The creation of a properly constructed will is necessary to avoid intestacy. A person who dies without a valid Will, dies intestate, which means that his or her property is distributed according to the Massachusetts succession statutes. This may result in the distribution of property in a manner not intended by the decedent.
To ensure that your property is distributed in a manner that you would like, contact Murray Law to create a comprehensive Last Will and Testament. We are ready to answer your questions and help you through the entire process. Call our firm to schedule a free case evaluation today.
MASSACHUSETTS LIVING TRUST
The Living Trust is an important option available to those who would like to avoid placing certain assets or resources into probate. Also known as a revocable trust, the Living Trust is created is a method that allows a person to to manage assets during their lifetime and instruct the distribution of assets after death. Typically, the person constructing the Living Trust, also known as the "grantor," has full access to the Trust while alive and may withdraw from it as needed. The grantor sets up the trust, appoints a "trustee" to manage the trust, and determines how the trust should be distributed after the grantor's death.
Since a Living Trust places the assets of a grantor into the management of a trustee, the assets in a Living Trust do not need to go through the probate process. Instead, upon the death of the grantor, the trustee will be in charge of handling the assets in a Living Trust, including paying any outstanding debts or taxes and then distributing the assets as instructed.
It is important to know that assets must be transferred to a Living Trust in a very specific way in order for a Living Trust to be effective and to avoid the probate process. All relevant assets, including any bank accounts, real estate, investments, or otherwise, must be formally and officially transferred to the living trust before the grantor’s death. This is called “funding” the trust. Funding a trust can be complicated because it can have an important effect on probate, inheritance, and taxes. If you are creating a living trust or are in the process of “funding” one, it is very important to consult with an estate planning attorney at Murray Law regarding your living trust options.
39 Union Avenue
Sudbury, MA 01776
Tel: (978) 579-9800
Fax: (978) 579-9800
Click Here to Find Us!