Massachusetts Wills, Trusts & Estate Planning Lawyers

Estate planning in Massachusetts involves a strategic and personalized approach to safeguard your assets and ensure your wishes are honored in the future. At Lynch & Owens, P.C., we understand the importance of creating robust estate plans that cater to the unique legal landscape of Massachusetts. With over 120 years of combined attorney experience, our dedicated team provides insight into key aspects of estate planning, such as asset management and disposition, healthcare directives, and legacy preservation. This comprehensive planning process not only protects your wealth but also alleviates the uncertainties and burdens faced by your loved ones after your passing.

Contact us today to schedule a consultation with our Massachusetts wills, trusts & estate planning attorney. 

What Is a Living Will?

Lynch & Owens’s estate planning attorney, Ronald F. Driscoll has been assisting Massachusetts residents with their wills, trusts, and estate planning needs for almost 20 years. He focuses on providing representation for all types of clients, from the young family just starting out to retirees who want their grandchildren to benefit from their success. After the initial consultation to determine the comprehensive nature of the estate, Attorney Driscoll determines the proper level of estate planning that is necessary to provide complete satisfaction to the client.

A living will is a critical component of your overall estate plan. It ensures that your wishes regarding medical treatments are upheld in situations where you might not be able to communicate them yourself. This document is crucial for outlining preferences concerning life-support measures, allowing you to take control of your medical decisions even when incapacitated. With healthcare continuously evolving, keeping your living will updated with current laws and medical practices is vital to uphold your personal medical rights.

What Does a Will Include in Massachusetts?

A Simple or Basic Estate Planning includes the creation of some or all of the following legal documents:

• Durable Power of Attorney allows the creator to appoint another person to stand in place of the creator. It is a very powerful and far-reaching document and the creator should only appoint a very trustworthy individual. This document is designed to withstand the incapacity of the creator.
• Health Care Proxy appoints another person as an agent to make decisions regarding the health care of the creator when the creator can no longer make those decisions for himself. This is especially important when the decision involves the continuation of life-preserving medical procedures. The more recent proxies also include the ability for the appointed health care agent to access the creator’s medical records.
• Declaration of Homestead tells the world that the client owns and resides at his place of principal residence and is claiming the full protection allowed under M.G.L. C. 188. This protection essentially shields the home from a judgment-induced sale.
• Last Will and Testament controls the distribution of the assets of the creator once deceased. The document usually names the executor, the guardians for minors if necessary, grants powers to the executor to effectively operate the estate of the deceased, and waive surety on bonds. Our Massachusetts estate planning lawyer can increase the level of sophistication if the circumstances so dictate by creating these additional documents.
• Last Will and Testament with a Testamentary Trust provides greater control of the assets and protects the heirs of the deceased from their creditors.
• Revocable or Irrevocable Trusts can be used, depending upon the particular circumstances of the client, to maximize the amount of the estate available for future distribution to the spouse, children, and future generations and to minimize the burden of estate taxes, especially on the surviving spouse. Additionally, if there are special needs to address or disability benefits to protect, a trust can be created to achieve them.
• Asset Transfers and Protection can be used to help clients more effectively pass their assets on to their families during their lives and, if necessary, posthumously as well.

Furthermore, Massachusetts residents need to acknowledge the state's estate and inheritance taxes when drafting their will. Careful consideration and strategic planning regarding these taxes can significantly impact the net estate value that your beneficiaries will receive. At Lynch & Owens, P.C., we navigate these complex tax implications to optimize the inheritance your beneficiaries receive under the state's specific regulations.

Frequently Asked Questions

What Are the Benefits of Setting Up a Trust?

Establishing a trust offers several advantages for Massachusetts residents. Trusts can provide enhanced control over asset distribution, allowing for detailed stipulations that a simple will might not accommodate. Additionally, setting up a trust can help minimize estate taxes, manage assets efficiently, and protect estates from potential creditors. Trusts also bypass the probate process, offering privacy and reducing the time and cost typically associated with probate court.

How Can I Ensure My Healthcare Wishes Are Respected?

Creating a living will and a healthcare proxy is crucial for ensuring your medical preferences are followed. In Massachusetts, a healthcare proxy allows you to appoint an agent to make medical decisions on your behalf if you are unable to do so. It is essential to select someone you trust and communicate your healthcare choices clearly to them.

Living wills act as advance directives, documenting your healthcare preferences regarding treatments like resuscitation, ventilation, and artificially administered nutrition. At Lynch & Owens, P.C., we help clients create comprehensive plans that articulate their medical wishes, ensuring legal recognition and respect for their decisions during critical times.

What Is the Massachusetts Estate Tax?

Massachusetts imposes an estate tax on estates exceeding $1 million in value. This tax applies to all property within an estate, which may include real estate, personal property, financial accounts, and other assets. It’s calculated based on the value of an estate at the time of death, and the rates vary depending on this value.

Effective estate planning can mitigate the impact of this tax, thereby maximizing the inheritance left to beneficiaries. Lynch & Owens, P.C. guides clients through strategic planning to optimize asset protection and tax reduction. Our expertise in navigating Massachusetts estate tax laws ensures a thoughtful and compliant approach to preserving your wealth for future generations.

We Offer Flat Fees for our Wills & Estates Services

Attorney Driscoll can provide representation for the personal representative to shepherd the assets of a deceased loved one through the complex Massachusetts probate process to ensure that the last wishes of the loved one are carried out in compliance with his or her estate planning wishes. See All Flat Fee Services.

Contact us today to schedule a consultation with our Massachusetts wills, trusts & estate planning attorney.