Estate Planning

Planning for the future and uncertainty can be difficult. And no one really likes to think about the three “D’s”, death, dying, and disability, let alone talk about them. Yet, one of the best gifts you can give your loved ones is to document your wishes and plan for the future. An effective estate plan establishes who will handle your affairs should you become disabled and how your assets will be distributed at your death.

At a minimum, an estate plan should include a Last Will and Testament, a Durable Power of Attorney, a Health Care Proxy, a Living Will and a HIPAA Authorization. 

Estate Administration

Estate Administration is the collection, inventory and appraisal of assets, collection and payment of debts and distribution of the remaining assets of a deceased person in accordance with his or her Will (or as specified by the laws of Massachusetts if there is no Will). It can be challenging to know where to begin. Administration of an estate can be simple or complex, depending on the circumstances. Did the deceased person have a Will? Is there a living trust in place and was it funded before death? How did the deceased person hold title to his or her property? Is there real estate that needs to be sold? Did he or she own real estate outside of Massachusetts? What role if any will the probate court have in the administration of the estate? Is a federal or Massachusetts estate tax return necessary?