How Long Does the Probate Process Take?

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The amount of time that the probate process will take depends entirely upon the unique circumstances of each decedent’s estate. Factors that can affect how long the process will take include:

  • The types of assets
  • The number of assets and their monetary value
  • The number of heirs
  • Locating the heirs
  • Determining heirs in the case of intestate succession
  • Whether a will has been drafted
  • Proving the validity of a will
  • The amount of debt and whether any creditors will attempt to collect on the debt
  • Tax issues
  • Whether there are any disputes or other uncertainties

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Smart Estate Planning For A Family Business

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If you own or operate your own business, you likely have valid concerns regarding the future of your business should you pass away. Estate planning for a family business requires working with a competent estate planning attorney who can assist you with drafting a legally sound business succession plan. Read more

Mental Incapacity and Estate Planning

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The common issue of mental incapacity is one of the most important reasons for beginning the estate planning process early. While you may work hard at taking care of yourself, you do not know what the future has in store for you. Estate planning allows you to ensure that your assets are protected and distributed in the manner you choose in the event that you become incapacitated later on in life. Read more

Do I Need a Will or Trust, or Both? Answered by a Massachusetts Estate Planning Attorney

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Many people are familiar with the terms “will” and “trust,” however, they don’t exactly know the difference, nor do they know which is more appropriate to address their needs. Being proactive with your financial planning and asset protection is the first step to taking care of your assets and your family when you pass. The next important step is determining which type of protection and planning will fulfill your wishes and make the most sense for your individual set of circumstances.  Read more

The Importance of An Estate Plan If You Have Young Children

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Yesterday’s post got me thinking more about why it’s important to have a plan in place if you have young children.

Estate planning allows parents to plan for who will care for their children and how they are cared for, ensures their property will pass to whom they want, the way they want and when they want and determines who will handle the property they leave to their children.

Minors need parents, and if you pass away prior to your child turning 18, who will care for them?  If you don’t decide and document it in a plan, the court will decide for you. Read more