Estate & Tax Attorney, Massachusetts

While it is common for people to wait before “putting their house in order,” it is not uncommon for people to wait until it is too late.

If you have not created an estate plan by the time of your death, state law will determine how and to whom assets are distributed.  At the very least a common sense “basic” estate plan includes a last will and testament (directing that your choice of the distribution of assets is implemented), a durable power of attorney (affording a person you trust to handle your affairs in the event of an incapacitation) and health care proxy documents (choosing the trusted individual to make important medical decisions on your behalf in the event you cannot and directing what medical decisions you wish).  These streamlined documents constitute a “basic” estate plan.

The Estate Planning Attorneys at Moody & Knoth, P.C. understand that different family or personal circumstances impact the decision-making process for each person’s estate plan.  Contact Moody & Knoth, P.C. to craft a personalized estate plan designed for your particular circumstances.

Estate tax implications (the federal threshold exemption amount is currently [2020] $11.58 million dollars however the Massachusetts threshold exemption amount is currently [2020] only $1.0 million dollars) as a result of the amount of your assets may impact planning. Additionally, the prospect of Medicaid liens (if nursing home or assisted living care becomes a reality) is another concern.  A special needs or disabled family member may benefit from a special needs or a disability trust.