We Put Families First
Providing Comprehensive
Estate Legacy Planning

Parents can name a guardian for their minor children in their will. This designation becomes effective upon the parents’ death, subject to court approval. Massachusetts law outlines the process for appointing a guardian, a crucial task for ensuring that someone you trust will care for your children if you pass away.

Massachusetts imposes an estate tax on estates exceeding $1 million. The tax rate varies depending on the size of the estate. Proper estate planning, including the use of trusts and charitable donations, can help minimize estate taxes and preserve more of your wealth for your heirs.

Health care directives, including living wills and healthcare proxies, are legal documents that communicate your medical care preferences if you become unable to make decisions yourself. Under Massachusetts General Laws Chapter 201D, a health care proxy allows you to appoint someone to make healthcare decisions on your behalf, aligning your medical treatment with your wishes.

A power of attorney (POA) is a document that allows you to appoint someone to make financial and legal decisions on your behalf if you become incapacitated. Massachusetts law provides for durable power of attorney, which remains effective even if you become mentally incapacitated, ensuring that the person you designate will manage your affairs according to your wishes.

Probate, governed by the Massachusetts Uniform Probate Code (Chapter 190B) is the legal process of validating a will, settling debts, and distributing the deceased’s estate. The process can be simplified for smaller estates, but generally involves filing the will with the local probate court, notifying heirs and creditors, and distributing the estate according to the will or state law.

Trusts are legal arrangements where a trustee holds and manages assets on behalf of beneficiaries. Massachusetts law allows for various types of trusts, including revocable and irrevocable trusts. Trusts can help manage and protect assets, avoid probate, and potentially reduce estate taxes.

A will is a legal document that allows you to specify how your assets will be distributed after your death. In Massachusetts, if you die without a will, your estate will be distributed according to the state’s intestacy laws. A will honors your wishes helps minimize disputes among heirs.

Massachusetts has unique regulations, such as specific allowances for spousal income and resource protection, which can significantly influence Medicaid eligibility and asset protection strategies. Understanding these state-specific rules is crucial for effective planning.

Common challenges include meeting income and asset limits, understanding the intricate rules, and avoiding penalties due to improper asset transfers during the “look-back” period. A Medicaid Planning attorney can help you navigate these challenges effectively.

The Medicaid application process involves submitting detailed financial and medical information to demonstrate eligibility. Because this complex process requires careful documentation, consult a Medicaid Planning attorney to guide you through the legalities and seek to meet the criteria.