Estate Planning Attorney in Worcester, Massachusetts

When it comes to estate planning, there is no one-size-fits-all solution. You need an estate planning attorney who will listen to your unique needs, goals, and circumstances, then tailor an estate plan to help you regain control of your life and your money and create a legacy where the money you earned goes to the right people in the right amount of time.

At The Law Office of Polly Tatum in Worcester, Massachusetts, we provide personalized and holistic legal services designed to meet the unique needs of our clients. With over 24 years of experience, our team offers comprehensive solutions in estate planning, elder law, asset protection, probate, and estate administration for peace of mind and protection for your legacy.

Our holistic approach goes beyond conventional estate planning by incorporating deep empathy and connection with our clients. We know from personal experience how vital it is to safeguard your loved ones. As your dedicated estate planning partner, we provide unwavering support and clarity through every stage of life, adapting our services as your circumstances evolve.

Whether you’re embarking upon estate planning for the first time or seeking to update an existing estate plan due to significant life changes, we can help. Our experienced estate planning attorneys can guide you through the creation of estate planning documents such as a will, trust, medical directives, or powers of attorney (POA). We’re here to answer questions and explain and draft the estate planning documents you need.

Key Takeaways About Estate Planning in Worcester, Massachusetts

• A Personalized Estate Plan is Crucial: Personalized estate planning addresses the unique needs and goals of individuals and their heirs. Working with a good estate planning lawyer, you can establish the right documents to plan for the distribution of your assets according to your wishes, tend to personal matters, and minimize potential conflicts among your beneficiaries.
• Trusts in Massachusetts: A vital component of estate planning, trusts offer benefits like probate avoidance, privacy, and an efficient transfer of assets to beneficiaries. The Massachusetts Uniform Trust Code (MUTC) regulates the establishment and administration of trusts, providing flexibility in managing and distributing assets. A grantor (the creator of a trust) can customize it to protect assets for beneficiaries, manage wealth during the grantor’s lifetime, and provide for specific needs such as education or healthcare.
• Powers of Attorney (POA): Establishing a Power of Attorney is a key element of estate planning. A POA allows you to designate someone to manage your financial affairs if you become incapacitated. This legal tool ensures that a trusted individual handles your financial decisions, thereby safeguarding your interests without court intervention.
• Importance of Wills: A will is a fundamental estate planning document governed by Massachusetts estate law. In it, you can dictate how to distribute your property upon your death. Without a will, the state’s intestacy laws will determine the distribution, which may not align with your wishes for your beneficiaries. Drafting a will with the assistance of a legal professional helps ensure that your assets are allocated according to your preferences and reduces the likelihood of disputes among heirs.
• Living Wills and Healthcare Directives: A living will, also known as a healthcare proxy in Massachusetts, outlines an individual’s medical treatment preferences in case of incapacitation. State statutes allow individuals to appoint a healthcare agent to make medical decisions on their behalf to uphold and respect their healthcare wishes. An experienced estate planning attorney can offer informed guidance to help you properly document these directives, for the peace of mind of knowing that your medical care aligns with your personal values and desires.
• Why Working with a Seasoned Attorney is Vital: When seeking an estate planner, consider an estate attorney with profound knowledge, experience, and empathy. At The Law Office of Polly Tatum, we’re transforming estate planning and elder law for Massachusetts families and individuals by cultivating a culture of personalized and holistic services that ensure peace of mind, protect legacies, and support every stage of life’s journey throughout the circle of life. We strive to create a future where every family feels secure and empowered for generations to come

What are the Components of a Comprehensive Estate Plan?

As knowledgeable estate planning attorneys can tell you, individual needs and desires vary. Some people will benefit from a basic estate plan while others with more complex situations concerning family members, minor children, and financial goals may require a more extensive estate plan. Regardless, everyone should conduct periodic reviews of their estate plan as their life’s circumstances change. In general, the following documents comprise the estate planning process:

• Wills
• Trusts
• Powers of Attorney (POA)
• Advance Directives

Wills

A will is the foundation of an estate plan. This document allows you to designate every beneficiary and state how you want your assets to pass to these specific individuals or organizations. In your will, you can also appoint a personal representative (executor) who will be responsible for overseeing the administration and distribution of your estate. Your estate planning attorney can offer recommendations on choosing the right person for this critical role.

Furthermore, if you have minor children, you can designate a guardian or guardians to raise them according to your values should you pass away before they reach the age of 18. Your estate planning attorney can also recommend the right individuals to assume this serious responsibility as you move through the estate planning process.

Trusts

In addition to wills, many people establish trusts as part of their estate plan. A trust is a legal arrangement and a fiduciary agreement in which a trustee manages assets on behalf of beneficiaries. Although various types of trusts exist, the primary goal of any trust document is to organize your assets and protect your wealth.

As your trust and estate counsel will inform you, a trust differs from a will in several important ways:

• A trust allows your beneficiaries to gain access to their assets more quickly than if your assets were passed on to them through a will
• A trust can take effect at any time, while a will only takes effect after you die.
• A trust can help you avoid probate, the legal process of settling an estate of a deceased individual.

There are various types of trusts, each with its unique purpose and benefits.

• Revocable Living Trusts: This type of trust allows you (the grantor) to retain control over your assets during your lifetime while designating how they should be distributed after your death. A revocable living trust also allows you to make changes or revoke it as needed.
• Irrevocable Trust: Once established, this type of trust cannot be changed. A knowledgeable estate planner understands that these trusts can provide tax advantages and asset protection for beneficiaries.
• Charitable Trust: This type of trust allows individuals to donate assets to a charity while reducing taxes and providing ongoing income for either the grantor or designated beneficiaries.
• Testamentary Trust: This type of trust is created in your will and only takes effect after you pass away. It allows you to designate how certain assets are managed and distributed to beneficiaries.
• Special Needs Trust: Also known as a supplemental needs trust, this legal arrangement provides financial support and care for those with special needs while preserving their eligibility for public benefits. It can pay for expenses not covered by the government, such as medical care, therapy, education, transportation, and personal comfort items.

An effective estate planning tool for managing wealth, trusts protect assets and minimize probate expenses. Some of the benefits of trusts include:

• Wealth Management: a trust allows you to specify its terms and control to whom and when to make distributions, which can take place before or after your death. For example, if you want to manage the financial situation of a beneficiary, you can transfer funds gradually, as in the case of a child’s educational expenses over several years.
• Legacy Protection: a well-constructed trust, with the help of an estate planning attorney, protects your estate from your heirs’ creditors.
• Privacy: Unlike a will, a trust allows assets to pass outside of probate and remain private. Transferring assets in a trust removes them from your estate, skipping a time-consuming and costly legal process. With a trust, matters of personal finance and designated beneficiaries do not become part of public record, protecting sensitive information.
• Asset Protection: Irrevocable trusts can offer protection from creditors, lawsuits, and potential estate taxes. Assets held within an irrevocable trust may be shielded from legal claims and estate tax liability.
• Management Continuity: If the grantor of a trust becomes incapacitated, the trustee can manage their affairs according to the trust’s terms.
• Tax Planning: Specific trusts, such as bypass or marital trusts, can be used to minimize estate taxes.
• Specialized Uses: Trusts can serve specific purposes, such as caring for minors, supporting charitable causes, or providing for individuals with special needs, making them highly adaptable to each individual’s financial situation.

An attorney with extensive estate planning experience can help you determine which type of trust will fulfill needs and goals.

Powers of Attorney (POA)

A POA is a legal document that grants authority to someone else to make decisions on your behalf, should you become incapacitated. Known as an “attorney-in-fact,” this individual will have the power to act in your best interests when you cannot. There are two main types of POAs:

• Financial Power of Attorney: allows the attorney-in-fact to manage financial and legal matters on your behalf
• Healthcare Power of Attorney: grants the attorney-in-fact the ability to make medical decisions for you if you cannot speak for yourself

A POA can provide the peace of mind of knowing that someone you trust will handle your affairs if you become unable. Your estate planning attorney will stress the importance of choosing a responsible and trustworthy individual who understands your wishes.

Advance Directives

A critical aspect of estate planning, advance directives allow you to specify your healthcare preferences if you become incapacitated and cannot make medical decisions for yourself.

There are two types of advance directives:

• Living Will: outlines specific instructions for end-of-life care, including the use of life-sustaining treatments
• Health Care Proxy: designates a person (similar to a healthcare power of attorney) to make medical decisions on your behalf

Establishing an advance directive with the help of your estate planning attorney will uphold and respect your wishes regarding medical treatment, even if you cannot communicate them yourself.

How Much Does an Estate Planning Attorney Cost?

The cost of an estate planning attorney will vary, depending on the law firm you choose. Many attorneys charge an hourly rate, while others offer flat fees. At The Law Office of Polly Tatum, we don’t create cookie-cutter estate plans. We’re professionals who understand that each client is unique. Whether you’re a young couple planning to start a family or an individual with retirement plans who wants to protect your assets, you can trust our estate planning attorneys to provide you with comprehensive legacy estate planning based on your needs and goals.

The Estate Planning Attorneys at The Law Office of Polly Tatum Put Families First, From Birth to Death

When choosing an estate planning lawyer, knowledge, experience and compassion matter. At The Law Office of Polly Tatum, our profound, personal commitment to understanding and addressing your specific needs and our deep empathy and connection with our clients sets us apart from many estate planning lawyers. We know from personal experience how vital it is to protect loved ones and achieve peace of mind.

For more than 24 years, The Law Office of Polly Tatum has been putting families first with probate services, estate planning, and elder law. Our estate planners are ready to provide personalized legal assistance with care, respect, and integrity. By leveraging our unique experiences, we offer a level of service and insight that secures your family’s future and preserves your legacy.

Contact us at (508) 795-1557(508) 795-1557 or complete our online form to schedule your initial strategy session. We offer simple fixed pricing, with virtual and in-person appointments available.

The Law Office of Polly Tatum: Protect What Matters Most