If you have minor children or own your own home, it is important to have a Will to accomplish your goals and protect your family. The administration of your estate may be simpler and less expensive if you have a Will. Without a Will, Massachusetts law dictates the disposition of your property upon your death, which may not accomplish your estate planning goals. Having a Will allows you to make the decisions that will affect your family and protect your children.
Most lawyers and estate planners agree that there are four basic components to a relatively simple estate plan:
- 1) a Will to direct who shall inherit your assets upon your passing, nominate the person to handle the distribution of those assets and provide for care of minor children;
- 2) A Power of Attorney giving a spouse or someone else the ability to handle financial affairs in the event of a disability;
- 3) A Health Care Proxy and
- 4) a Living Will.
For many families these basic documents are all that is necessary. However, there are many circumstances where a simple will is not sufficient.
For a family whose combined total assets might exceed the Massachusetts estate tax threshold of $1,000,00.00 a simple will might not be the best answer. Likewise, a simple will may not be sufficient for unique family situations such as second marriages, children from an earlier relationship or special needs of a family member. The attorneys at Aaronson & Mach, P.C. are very experienced in drafting more extensive estate plans to deal with tax issues as well as unique situations that might require complex estate plans, including trusts, to meet any individual needs.
Our lawyers can also discuss with you options to preserve your assets and provide Medicaid planning.
Why Choose Us
The purchase or sale of a home, condominium or commercial property may be one of the most significant financial transactions you experience in your lifetime. Our attorneys and paralegals have the experience to handle all aspects of your real estate transaction, whether in Pittsfield, elsewhere in Berkshire County or beyond.
Whether starting a new business, purchasing an existing business or seeking some assurance that an existing business complies with all applicable requirements, the lawyers at Aaronson & Mach, P.C. can provide appropriate guidance tailored to each client’s individual needs.
Particularly if you have minor children or own your own home, the administration of your estate is simpler and less expensive if you have a Will. Without a Will, Massachusetts law dictates the disposition of your property upon your death. Having a Will in place allows you to make the decisions that will affect your family and protect your children.
Losing a loved one is always difficult but having little guidance though the probate process can add unbearable strain for the family. Our attorneys are available to guide you through the process.