Winchester Wills Attorney
Wills are useful tools in an estate plan that allow you to express how you want your assets to be distributed. It’s important to be proactive and put a will in place now, so it’s there in case you need it. Maintaining a comprehensive estate plan ensures you’re prepared, rather than waiting until it’s too late.
At The Heritage Law Center, we strive to ease the pain points that Massachusetts residents may face as they build their estate plans. Our skilled lawyer, Matthew Karr, takes the time to understand your unique concerns and priorities before helping you create your will.
If you’re ready to write a will to direct how your belongings will be distributed, reach out to our wills attorney serving Winchester today.
What Winchester Residents Need to Know About Wills
A will is a legal document that outlines instructions for how you want your estate handled after your death. Though making a will is typically associated with aging or illness, writing a will as your family grows or accumulates assets is important if you want your family to be taken care of later.
The future is uncertain, and having a will on file ensures that your assets will get to your loved ones if something happens to you. Dangerous or even fatal accidents can happen at any time, and waiting until it’s too late can take away your control over your assets following your death. Winchester residents can take action now and avoid this worry.
Wills do have to go through probate court. This process can take about a year and the following expenses can be incurred: executor’s fees, attorney’s fees, accounting fees, court fees, appraisal costs, and surety bonds.
If you don’t have a will when you pass away, your assets will be handled based on Massachusetts’ intestacy laws. That means you lose any control you may have over your estate, and your assets may not go to the loved ones you wanted to leave them to. A wills attorney in Winchester can help you avoid this issue.
Types of Wills for Winchester Residents
One of the most common will types is a simple will, sometimes referred to as the last will and testament. This document notes your assets and the people to whom you’re leaving them. Many individuals choose to allocate a large portion of their assets to their surviving spouse or heirs, but you may decide on your own how your estate should be divided.
This isn’t the only option Winchester residents can choose from. For example, you can choose to do a trust, which holds legal title to property for the benefit of another person (“beneficiary”).
Trusts have certain advantages, including asset management if you become incapacitated, probate avoidance saving your estate time and money, and privacy (unlike wills which are publicly available).
A pour-over will is created for a trust. It provides a safety net that states that when the person who created the pour-over will dies, any other assets not already placed in the trust should be poured over into that trust. The assets do have to go through probate to get into the trust but it works more quickly since there are minimal assets for the court to oversee.
Unsure what option is best for you and your family? Winchester residents can rely on an experienced lawyer like Matthew Karr, Esq., to guide them through their options and create the right type of will for their needs.
A Wills Attorney Serving Winchester Can Help
Matthew Karr, Esq., at The Heritage Law Center can help you navigate your options and find the best plan for your needs. Our lawyer is eager to answer any questions you have and aid you in creating a well-developed will that meets your goals.
If you’re ready to protect your assets and your loved ones with a comprehensive estate plan, get started with a free consultation. Give our wills attorney serving Winchester a call at 617-299-6976 or fill in our online form to connect with our team.