Tag Archives: Estate And Trust Administration

Estate And Trust Administration – An Insight

How can you maintain your dignity and liberty in the course of your life and specifically lead and secure your family after death? Consult a Lawyer for Estate Planning. It is important to consult with a lawyer in the field of estate planning to ensure that you not only have a plan in place but that your plan is valid and recognized under the current state laws. I strongly suggest you to visit Estate And Trust Administration-Law Offices of Boyd & Boyd, P.C to learn more about this.

A lawyer in the field of estate planning can help create an attorney’s control, living trust and a health care proxy to cover you throughout your lifetime. The solicitor may therefore meet with you to create a will and/or testamentary arrangements to protect anyone you left behind under your living confidence. These measures can prevent the distribution of your property according to the Massachusetts statutes of intestacy. Therefore, if these statutes control your situation it means you have lost control over who receives your assets and who is appointed guardians of your children.

Procuratorial Control

The Attorney’s Power is a formal instrument allowing someone else to handle the financial affairs. There are two forms of procuratorial force. The first is a general, enduring attorney power which immediately gives power to another person known as a “attorney-in-fact.” The second is an attorney’s springing power that transfers authority to another party identified as a “attorney-in-fact” even because you have become physically or psychologically impaired. If you become disabled, you can avoid the frustration, delay, and costly process of conservation by having a power attorney drafted by an estate planning lawyer. Ultimately, the process of conservation requires a judge to appoint a conservator, who can actually be a complete stranger to the family.

Healthcare Director

The Health Care Proxy allows an adult to appoint another adult if they are unable to make medical decisions in the future. That power includes the ability to decide whether to take life-sustaining measures. When you are ill, you will prevent the confusion, uncertainty and expensive guardianship phase by getting a health care representative written by an estate planning lawyer.

The Will to Live

The living will need to express their desires about using extraordinary measures to prolong their lives when there is no reasonable expectation that they will regain consciousness.

Will and the Last Testament

The Final Will and Testament is a document that helps us to bequeath properties to particular persons and/or organisations, appointing guardians for your minor children and theoretically avoiding the transfer of your property and children under the normal intestacy laws of the State. Unfortunately, many citizens in Massachusetts are unaware that the Last Will and Testament will not avoid a previous probate ‘s cost, pause, and exposure nor will the Will circumvent a beneficiary assignment on a life insurance contract, investment fund, or shared type of property. Therefore, in addition to the Last Will and Testament, the estate planner should be aware of all retirement plan beneficiaries, insurance policy beneficiaries, joint accounts and consider whether a living trust should be drafted.