Estate Planning

As your Cape Cod trust and estate lawyer, we work with you to address your estate tax questions, your asset protection concerns and your family wealth issues. Working with you to determine whether you need a will or a trust, our client service strategy stresses collaboration and communication to create a plan that works for your family’s specific needs.

What You Need: Estate Planning 101

There are three legal documents that every adult should have prepared in the event of disability or death.

Durable Power of Attorney: The most powerful document that you will probably ever sign, this legal instrument grants broad powers to your appointed agent to act on your behalf regarding your property and business affairs. While many people cringe when they think about giving control of their assets to another person, this document can be drafted to curtail certain powers and require certain actions before your agent can act on your behalf. This document is only effective while you are alive and it cannot be used to transfer any assets after your death.
Health Care Proxy: This document grants your agent the authority to make health care decisions only after a doctor has determined that you are no longer able to make such decisions. Your health care agent has the legal authority to make any and all medical decisions, including end-of-life care decisions, if you cannot. Therefore, you may wish to include information about your wishes for end-of-life care or you might write a legacy letter or “living will” to express your desires. Please note, that a “living will” is not a legally enforceable document in the state of Massachusetts. Therefore, consider carefully how and what you wish to communicate to your agent so that she or he will carry out your desire to the best of her or his ability.
Last Will and Testament: This document directs the disposition of your assets upon your death. Anything you own in your own name cannot be transferred to your heir(s) until the Executor named in your Will is appointed by the Probate Court. Under current law, the appointment process can take 2-3 months or longer. However, in July 2011, the Massachusetts Uniform Probate Code will be in effect and both the requirements and procedures for probate will be stream-lined.