You probably had a plan when you amassed wealth during your lifetime, and having a plan for what happens to your assets after you pass on can be crucial. Your best plan for leaving your assets to the next generation starts with BMK Legal.
An experienced private client lawyer from BMK Legal can help ensure your property passes to the beneficiaries you choose without protracted proceedings that stress out family and friends. We have served the people and businesses of greater Boston for more than a decade and come from a multiple-decade legacy of exceptional advocacy. In an estate planning case, there are many ways we can help, and we review those ways below.
Why Hire a Private Client Attorney?
When you have an estate planning matter in front of you, there is a good chance that you or your loved ones will have to go to court to defend the wishes of someone who has passed (“decedent”). In 2024, the Massachusetts Probate and Family Court saw more than 33,000 probate cases filed, the second-highest number of filed cases by subject matter.
A Boston estate planning attorney can help you and your loved ones avoid court or ensure you receive what you are due in a probate proceeding. A private client lawyer from our firm can help with the following:
- Drafting a valid will that can survive the probate process;
- Gathering and properly presenting the necessary evidence to prove the validity or invalidity of a will;
- Drafting legal documents to help the decedent’s estate avoid the probate process; and
- Effectively administering the probate estate.
We provide comprehensive counsel to individuals, families, and businesspeople in probate proceedings, and we can protect you. Below, we review some estate planning basics that might crop up in your case.
Managing the Probate Process
In Massachusetts, the legal process of probate distributes a decedent’s estate assets and settles debts. If a person dies with a will, the probate court confirms that the will is valid and oversees the distribution of assets according to the will’s terms. If there’s no will, the court follows Massachusetts intestacy laws for distribution. Under these laws, all assets typically go to a decedent’s surviving spouse or children first and then to other immediate family members if there is no spouse or child. If you wish to leave property or money to a friend or business associate after you die, you will likely need a will or other legal document to ensure proper distribution.
Probate can take several months, leaving beneficiaries and creditors in limbo until completion. Our legal team can facilitate the smoothest probate proceedings possible. We can also help a decedent and their beneficiaries avoid probate by placing estate assets under the control of other legal documents.
In Massachusetts, a decedent’s assets may not be subject to probate if they are part of the following:
- A trust,
- An insurance policy,
- A jointly owned property, or
- A contract that dictates what must happen to the assets after the decedent’s death.
Having us create one of the above legal arrangements can put you and your loved ones at ease about the succession of your property.
Preparing Wills
In Massachusetts, a will is a legal document allowing someone (the “testator”) to decide how to distribute their property after death. A valid will must be in writing, with the testator signing it in the presence of two witnesses who also sign it.
The first argument in many estate planning cases is whether any will that a testator left behind is valid. Potential beneficiaries may claim that the will you present to the court (or the will you have written) is the wrong version, fake, or improperly executed. Our knowledgeable attorneys can draft and help you execute a will that is not vulnerable to court challenges and details how to distribute your assets after you pass.
Drafting Trusts
Trusts are another way to control the distribution of your assets. A trust is a legal arrangement where a decedent transfers assets to a trustee before the decedent dies. The trustee then manages those assets to benefit the trust beneficiaries. Trusts are popular in estate planning because they can bypass probate. You may choose to put your assets in a revocable or irrevocable trust to shield them from the probate process, and a Boston estate planning attorney from our firm can identify which option would work best for your needs.
Helping with Business Succession
For business owners, planning for the future of their business is an essential part of estate planning. Business succession planning in Massachusetts may involve drafting and executing legal documents outlining who will take over or manage a business if its owner dies. You may need to make enforceable changes to your business’s governing documents or enter new contracts to protect your succession plan. Effective business succession planning with a BMK Legal estate planning lawyer can ensure the continuity of your business efforts and reduce conflicts and legal complications.
Assisting with Estate Administration
If your or your loved one’s assets must go through probate before distribution, the estate’s personal representative is a significant person in the process. The personal representative administers the estate, meaning that they do the following:
- Manage the estate assets,
- Pay all estate debts, and
- Distribute remaining estate assets to the appropriate beneficiaries.
Estate administration can be time-consuming and sometimes requires help from a professional to ensure compliance with all legal requirements. With several decades of combined experience, we can provide the professional assistance you need to administer your estate properly.
Contact a BMK Legal Estate Planning Attorney in Boston Today
BMK Legal has the multi-disciplinary, award-winning experience to make the best out of any estate planning matter you face. Each private client lawyer from our firm strives to add value to every legal endeavor our clients bring to us. We provide our top-tier services at a reasonable cost. Please contact us on our website or call us to schedule an appointment.