Thoughtful Estate Planning And Administration
Are you thinking about the future of your assets and how to protect your loved ones after you’re gone? Estate planning isn’t just for the wealthy – it’s an essential step for anyone who wants to ensure their wishes are honored and their family is cared for. Here in Barnstable, Massachusetts, navigating these important decisions doesn’t have to be overwhelming.
At Booth Law, P.C., our dedicated team of estate planning attorneys understands the unique needs of Cape Cod residents. We offer free initial consultations, a hands-on approach to every case and competitive rates that make quality legal guidance accessible. With years of experience handling everything from simple wills to complex trust arrangements, our estate planning lawyers have helped hundreds of local families find peace of mind through thoughtful legal preparation.
Comprehensive Estate Planning Services Tailored To Your Needs
Our firm provides a full spectrum of estate planning solutions to protect your assets and honor your wishes:
- Will preparation: Legally binding documents that outline how your assets will be distributed, guardianship for minor children and your final wishes
- Trust creation and management: Including revocable living trusts, irrevocable trusts, special needs trusts and charitable trusts
- Power of attorney designation: Ensuring someone you trust can make financial decisions if you become unable
- Health care proxies: Appointing someone to make medical decisions on your behalf when necessary
- Estate administration: Guiding executors through the probate process with compassion and efficiency
Whatever your estate planning needs, our experienced team provides personalized guidance every step of the way.
Wills Vs. Trusts: Understanding Your Options
Wills and trusts serve different purposes under estate planning law, each with distinct advantages. A will is a fundamental document that directs how your assets will be distributed after death and names guardians for minor children. However, wills must go through probate – a potentially lengthy and public court process.
Trusts, meanwhile, offer privacy and typically avoid probate entirely. They can take effect during your lifetime, provide asset protection and offer tax advantages in certain situations.
Many Barnstable residents benefit from having both: A will as a foundation and specialized trusts for specific purposes. Our estate planning attorneys evaluate your unique circumstances to recommend the optimal combination of legal tools for your situation.
Massachusetts Probate Process And Intestate Succession
When someone passes away in Massachusetts, their estate often goes through probate – the court-supervised process of authenticating a will, paying debts and distributing assets. This process typically takes nine to 18 months and can cost between 3 – 10% of the estate’s value in legal fees, court costs and executor commissions.
If you die without a will (intestate), Massachusetts law determines who receives your property through a rigid formula that may not align with your wishes. Typically, assets go first to spouses and children, then to parents, siblings and more distant relatives. Without proper planning, your loved ones face a longer, more expensive probate process with no guarantee your actual wishes will be honored.
Frequently Asked Questions About Barnstable Estate Planning
At our Barnstable law firm, we understand that estate planning can seem overwhelming. Our estate planning attorneys have compiled answers to common questions to help guide you through this important process.
When should I start estate planning?
Estate planning should begin as soon as you acquire assets or have dependents. Regardless of your wealth or age, having basic documents like a will, power of attorney and health care directive provides protection for you and your loved ones. Our estate planning lawyers recommend starting this process when you reach adulthood, buy property, get married, have children or experience other significant life events.
How often should I update my estate plan?
Estate plans should be reviewed every three to five years or upon major life changes, such as:
- Marriage or divorce
- Birth or adoption of children
- Death of beneficiaries or executors
- Significant changes in assets
- Relocation to a different state
An experienced estate planning attorney can help determine if your documents need revisions to remain effective and legally sound.
What is the role of an executor in estate administration?
An executor manages your estate after your passing. Their responsibilities include:
- Inventorying and protecting assets
- Paying debts and taxes
- Filing necessary court documents
- Distributing assets according to your will
- Representing the estate in legal matters
- Closing the estate when administration is complete
Selecting a trustworthy, organized executor is crucial for efficient estate administration under Massachusetts law.
Can I change my trust after it’s created?
Yes, revocable living trusts can be amended or revoked during your lifetime. Changes might include:
- Adding or removing beneficiaries
- Changing distribution terms
- Replacing trustees
- Modifying administrative provisions
Irrevocable trusts are more difficult to change but may be modified under certain circumstances through decanting or court petition. Consult with an estate planning lawyer to understand your options.
What assets should be included in my estate plan?
A comprehensive estate plan should address:
- Real estate properties
- Financial accounts (checking, savings, investments)
- Retirement accounts and life insurance
- Business interests
- Personal property (vehicles, jewelry, art, collections)
- Digital assets (online accounts, cryptocurrency)
- Intellectual property
- Pets and their care
Estate planning law covers more than just distributing wealth – it ensures your wishes are honored for all aspects of your legacy.
Contact Our Estate Planning Team Today
Don’t leave your family’s future to chance. Our dedicated estate planning attorneys in Barnstable are ready to help you create a customized plan that protects what matters most. Contact us today for a consultation to ensure your legacy is preserved according to your wishes. Call 508-841-5707 or email us online to get started.