Estate Planning

Our firm provides assistance with all aspects of estate planning and strives to meet your individual goals and needs. An individualized plan may consist solely of a will, durable power of attorney, and health care proxy. A more extensive plan may include a revocable living trust to supplement or supplant the will, specialized trusts or other instruments with tax advantages, and/or provisions for specific needs of individual or charitable beneficiaries. Included in the estate planning process is our evaluation of the most appropriate person or persons to act as personal representative of your will, trustee of your trust, or agent under your power of attorney or health care proxy.

You may require attention to family business interests and taxation issues. We will assess the type of taxes relevant to your situation be they gift, estate or generation skipping taxes, individual or fiduciary income taxes, excise taxes, or taxes of a similar character imposed by the United States, Massachusetts or another state or foreign jurisdiction. We will then proceed to evaluate the range of foreseeable tax issues and address your concerns accordingly. Our experience with state and federal laws and regulations allows us to design plans appropriate for each client.

Estate Settlement and Trust Administration

Our staff is fully trained to help you navigate the estate settlement process. This may include securing the allowance of a will and the appointment of a personal representative, probate of a foreign (out of state) will, the settlement of an estate when there is no will, or avoiding formal probate through voluntary administration. We have developed a system over our many years of practice which will keep you informed of the appropriate steps to take in any chosen course of action.

Whether a trust is established by will or outside the will, our staff will guide a trustee in carrying out provisions of the trust from start to finish. A trustee's responsibilities typically involve formal acceptance as trustee, marshaling the assets, preparing the initial inventory, deciding on investment policy, paying debts, expenses and taxes, making appropriate tax elections, deciding on appropriate distributions of income and/or principal, and preparing and filing trust accountings. If you are a beneficiary under a trust, we can help clarify your rights and entitlements under the trust provisions and see that your interests are fairly represented.

Real Estate

Very often, a large or significant component of a person’s estate or trust is the family home or other real estate. Frequently, the home may be a second (vacation) home with the primary residence located outside Massachusetts. We are experienced with the different aspects of dealing with real estate in this context. Some of our clients may want to sell their home. Others may want to develop a plan which allows ownership to descend to children or other family members in ways that reduce anticipated estate taxes.

In addition to lending assistance with the negotiation and sale of real estate, we are prepared to discuss the benefits of a traditional Massachusetts real estate trust or an alternative entity such as a limited partnership, a limited liability corporation, or a more specialized trust, each of which may offer significant advantages, whether tax related or otherwise. There are often many options with respect to real estate which are worth considering.