Our lawyers at Wood & Gresham, P.C., draft wills, trusts, Massachusetts health care proxies, living wills, and powers of attorney for our clients depending upon their specific needs. We also practice in the areas of probate and the administration of estates. Probate is the legal process by which a person's debts are paid and assets are distributed upon her or his death by the "estate." Massachusetts laws direct the probate court how to distribute the decedent's estate. The laws and procedures can be complicated, so it is important to consult a firm with extensive experience in this area of the law to ensure that the deceased's assets are distributed correctly and the wishes of the decedent are complied with.
Contact our Franklin wills attorneys at Wood & Gresham, P.C., for a free consultation.
Why Should I Stop Putting Off Executing A Will, Health Care Proxy, Living Will, Or Power Of Attorney?
If you are over 30 years old and you do not have a will, trust, health care proxy, power of attorney, or living will yet, it's time to stop procrastinating. You probably own a house. You may have several children or grandchildren. You may have life insurance, health insurance, and some money stored away for retirement. Undoubtedly, you have worked hard for everything that you have. So doesn't it makes sense to ensure that, if anything were to happen to you, your assets and affairs would be taken care of pursuant to your wishes?
- Imagine you become ill or are seriously injured. Imagine you are so ill that you rely on a respirator and are fed intravenously for years. While you are ill, your assets are used to help pay for health care you never wanted. Any additional assets you own are untouched. Your investments are not watched and your taxes are not paid. Your minor children are given a court-appointed guardian you have never met.
- What if you die before you get around to preparing your will? You wanted to be an organ donor, but you never told anyone. You wanted to be cremated and have your ashes scattered at sea, but no one knows. You assumed your children would be taken care of with the money from your insurance policy but much of that money is eaten up by estate taxes. You wanted to provide for your sister who is struggling financially and you wanted your wedding ring to go to your daughter. Instead, your sister inherits nothing and your ring is sold at an estate sale and the profits are divided between your children.
No one likes to contemplate death or the possibility of years of illness or disability. The thoughtful creation of estate planning documents while you can effectively express your desires regarding the distribution of assets, care of minor children, and health care wishes is the best way to control your future. It is important to draft these documents with the assistance of a knowledgeable attorney. These documents provide you control over end-of-life situations and determine how and to whom your assets will pass.
In short, these documents will give you the peace of mind of knowing that everything will be taken care of (the way you want them to) if anything should happen to you.
What Wills Do?
A written will is the cornerstone of most estate plans. A written will, prepared by an experienced attorney, allows you to:
- Select the person responsible for carrying out the wishes you set forth in the will (This individual is known as the executor)
- Direct the payment of debts and taxes
- Make specific bequests or gifts of tangible property like family heirlooms or sentimental items
- Determine who receives the remainder (residue) of your other property
- Select a "trustee" and/or a "guardian" for your minor children and their property
- Specify your preferred burial arrangements etc.
Contact Our Wrentham And Foxborough Trusts Attorneys
Call 508-384-2008 to contact Wood & Gresham, P.C., to consult with one of our experienced attorneys to determine which estate planning documents are recommended for your particular situation. There is no cost and no obligation for this initial consultation. Let us use our unique experience to help you seek a beneficial resolution to the matter whenever possible.