Wills & Trusts
Creating a Will is something that everyone should take the time to do. Now the process is more simple than ever. SINC LAW. P.C. has a Wills and Trusts Section dedicated to providing guidance and service to our clients. If you have questions about how assets will be distributed after death, we recommend that you schedule an appointment with one of our attorneys. Relying on an old Will or a form Will may not provide the protection that your loved ones deserve. The more carefully you prepare, the more successful and less complicated the process will be. A properly prepared estate plan will give you peace of mind for years to come.
A Will designates who will receive your real and personal property upon your death. Without a Will, your property will pass according to the intestacy laws of Massachusetts (or the state in which you live at the time of your death). Designating beneficiaries allows you to pass assets as you see fit. Assets can be distributed to individual or to charitable beneficiaries, and also insures you that your Probate costs and fees will be at a minimal.
Provide for Children
A Will allows you to designate a Personal Representative, Guardian and/or a Trustee for your children. Without a Will, you will have no say in the choice of a Guardian. A Guardian will need to be approved and appointed by the court and will provide for the day to day care of your children. A Trustee, much like a Guardian will make financial decisions for your children’s health, education and welfare. So its very important to be very specific in the drafting of your Estate Plan.
You should find out if they have a Will, Durable Power of Attorney and Health Care Directive. As they get older, having these documents will make your job much easier as you help them. A Will gives direction on distribution of assets and could protect your inheritance. Without a Durable Power of Attorney if your parents lose capacity and cannot act for themselves, you will have to have to go court and have a guardian appointed wasting time and money. A Health Care Directive allows your loved ones to express their wishes in advance on whether or not they desired to be kept alive artificially when there is no hope of recovery. Don’t wait until it is too late.
Planning for Incapacity
Durable Power of Attorney will allow a loved one to manage your financial affairs in the event of incapacity. Likewise a Health Care Directive allows your designated person to make medical decisions if you are unable to do so. It also gives instructions to medical providers on the care you wish to receive.