Estate planning enables individuals to create a plan for the transition of their assets to selected beneficiaries—family, friends, spouses, and charities—after their lifetime. Regardless of the size of your assets, having a plan in place is important for your own peace of mind and for the financial future of your family and friends. Many people delay in writing a will and, therefore, die “intestate”: without having a will in place. The failure to write a will distributing your property is risky because it means that you have no control over who receives your assets, and your family may be left confused and unguided. Estate planning can also serve to reduce the stress that comes will the loss of a loved one. It is also incredibly important to write a will if you have young children, in order to designate guardians for them. Family disputes, and even long-term fissures between family members, may result from a failure to plan for the distribution of your assets.
Trusts are also a helpful means of controlling your property distribution. Whereas wills must be administered (also known as “processed” or “probated”) in a Massachusetts probate court, trust assets can be distributed without the hassle and delay of probate court, and can also help protect certain assets from the reach of creditors. Thus, for many reasons, trusts have become an increasingly popular means of asset distribution in recent years. Altman & Altman, LLP, handles a wide range of estate planning matters for clients in the Boston and Cambridge area. Our experienced estate planning attorneys can assist clients with all of the following matters:
• simple wills
• living wills
• power of attorney/durable power of attorney
• health care proxies
• testamentary trusts
• revocable living trusts
• charitable donations
• declaration of a homestead
• tax-free gifts to individuals
• married separate living trusts
• individual irrevocable life insurance trusts (ILIT)
• joint irrevocable life insurance trusts (ILIT)
• joint investment trusts
• supplemental and special needs trusts
• testamentary trusts
The above terms may be foreign to you and your family, and attempting to understand them on your own can be overwhelming and confusing. We have the knowledge and resources to help you understand these various terms, the federal and state laws governing estate planning, the intricacies of probate court, and the legal ramifications of specific estate planning devices. No matter how simple or complex your needs, the estate planning attorneys at the Boston and Cambridge law firm of Altman & Altman, LLP, can provide the help you need to ensure your future transition of assets is as seamless as possible.
At Altman & Altman, LLP, we recognize that understanding the tax implications of your decision to write a will or to create a trust can be difficult, and we are prepared to help you navigate these murky waters. From writing wills to helping you understand estate taxes and marital deductions, we have the tools and experience to handle the most sophisticated estate planning needs. If you or a loved one is seeking estate planning services, the estate planning attorneys at the Greater Boston law firm of Altman & Altman, LLP, have over forty years of experience in handling such matters. To schedule your free, confidential consultation with an experienced Massachusetts estate planning attorney at Altman & Altman, LLP, call 617.492.3000 or 800.481.6199 (toll free) or contact us online. Our phones are answered around the clock, 7 days a week, and we promptly respond to all emails.