Estate planning is the process of arranging for the disposition of your property during life, by various types of gifts, or at death, by means of your Will and possibly a Trust or Trusts or other means, to ensure that your wishes for the disposition of your estate are set forth clearly and can be carried out efficiently by the people you choose to undertake that responsibility.
Estate planning also involves taking prudent steps to minimize the taxes and liabilities to which your estate may be subject. Planning for the possibility of incapacity or illness during life is another very important aspect of estate planning. For business owners, planning to keep the business in the family upon death or retirement may be the most important and challenging subject to be addressed. For those entering into second marriages, the complexities of blended families must be addressed.
Your estate planner should gather information about your family and financial situation and your intentions; analyze the information gathered and present and discuss with you with the most relevant options for achieving your goals. An experienced estate planner can help you make the sometimes difficult personal decisions required.
- Business succession planning
- Charitable gift planning
- Charitable trusts
- Durable powers of attorney for financial decision-making upon disability
- Health care proxies and living wills for health care decision-making
- Irrevocable life insurance trusts
- Life estate or occupancy agreement
- Marital trusts to minimize estate taxes
- Obtaining estate tax lien releases
- Pre-marital and post-marital agreements
- Preparation of Federal and Massachusetts estate tax returns
- Probate of estates with or without a will
- Revocable living trusts
- Trusts for minor children
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