What is a Will?
A Will is a basic estate planning document that allows you to choose who gets your prized possessions and other assets when you pass on.
Without a Will, Massachusetts’ law will determine who gets what.
- If you haven’t a spouse or children, your parents may inherit your entire estate
- If your parents are not alive, your siblings will split your assets equally.
- If you have a living spouse and children, your spouse may end up co-owning your home with your children. Not a problem in theory, but do you want your spouse have to obtain your child’s legal consent to refinance, renovate, or sell the house?
- Depending on your estate’s value, your spouse and children could also end up co-owning your house with your parents!
A Will can name a guardian of your choice to care for your minor children.
Without a Will, a Massachusetts court will determine who raises your children after you die, by considering what it determines is in your children’s best interests.
If your personal preferences are not made known by your Will, your children could be placed in the care of strangers, a former spouse or a family member who may not share your values or philosophies. A Will ensures you have a voice in your children’s care decisions after you are gone.
Preparing a Will is easy, but understand that it’s tightly controlled by statute.
Make sure that your Will complies with all of the statuary requirements regarding creation, witnesses, notary stamps and execution. We do.