Estate Planning

Last Will and Testament (Will): A Will is the most basic estate planning document. It declares how your property will be managed and distributed after you die. In addition, a Will is the only way to name a guardian to care if you have minor children. If you fail to create a Will, the probate court will intervene to make these determinations according to the intestacy laws of Massachusetts, which may not agree with your wishes and may not protect your assets. 

Durable Power of Attorney: A POA allows you to name a trusted person, either a family member or close associate, to manage your personal and business affairs if a physical or mental impairment leaves you incapacitated.

Health Care Proxy: A Health Care Proxy allows you to designate a healthcare representative to make medical decisions on your behalf if you become incapacitated.

Advance Medical Directive: This document contains your preferences regarding health care instructions, including whether you wish to receive life support systems.

Revocable Living Trust: A Living Trust is a trust that takes ownership of your property while also allowing you to continue managing it during your lifetime. Unlike a Will, a Trust does not need to be probated since you no longer “own” the assets, which can save time and money, as well as maintain the privacy of the financial arrangements.

Irrevocable Trust: An Irrevocable Trust cannot be modified or altered during your lifetime; however, it does avoid probate. This estate planning tool is typically for those have special needs or are planning for long-term care.