Milton Wills Lawyer
Milton Wills Attorney
For those considering the future of their lives and the lives of their loved ones, significant decisions need to be made to plan properly. Working closely with a Milton wills lawyer allows Massachusetts residents to understand the full scope of state laws regarding estate planning and probate.
At Albanese Law, LLC, we offer free consultation to families in Milton and surrounding areas to discuss your goals and desires for what happens to your assets after you pass away. Massachusetts has specific rules regarding wills and estate administration. It’s vital to prepare these documents correctly to be sure they’ll be legally enforced after you pass. Contact us for expert legal guidance.
Components of a Legally Valid Will
A will is a legal document that details how your estate will be handled after your death. This includes the distribution of your assets. Assets can include:
- Real estate
- Bank Accounts
- Investment Accounts
- Retirement Accounts
- Personal property, such as the items in your home, vehicles, or collectibles
- Stocks and bonds
- Life insurance policies
- Intellectual property
A will can also include naming a trusted person to be appointed guardian for minor children, as well as naming a trusted person to be responsible for carrying out your instructions after you pass. Massachusetts requires all estates to comply with state law regarding probate.
Helping You Understand Your Estate Planning Options
Alternatives to Probate for Smaller Estates
Probate is the court-overseen process that happens after an individual passes away. It requires someone to oversee handling the individual’s estate, paying off any outstanding debts and taxes, collecting and preserving assets, and distributing assets according to the individual’s will, if one is in place.
This process can be lengthy and complex, especially for those without a will in place. Creating a legally enforceable will is an easy way to help streamline the probate process and take the stress off your loved ones, allowing them to focus on their well-being during the grieving process. However, some estates may be able to avoid probate altogether. Any assets placed in a trust will avoid probate altogether, making it simple and quick for your loved ones to receive the assets.
Avoiding Probate
Additionally, smaller estates may be able to avoid probate. These estates must have less than $25,000 in assets, not counting one car, and no real estate. For estates that meet these requirements, state law allows for a simple process called voluntary administration. However, the average income in Milton in 2023 was $178,053 per household, making probate likely for many residents.
Without a valid will in place, the Massachusetts laws of intestacy determine how assets are divided. While state law prioritizes your spouse or children, assets can be distributed in ways that may not reflect your wishes or the needs of each family member.
Contact a Trusted Milton Lawyer
84.7% of Milton residents owned a home as of 2023. Drafting a legally valid will is essential for protecting your family and your property. If you live in Milton or the surrounding areas and need to create or update your will, contact Albanese Law, LLC today. Our firm offers free consultations and works with families to develop estate plans that comply with Massachusetts laws.
