Estate Planning Attorneys

Your death is probably the last thing you want to think about, let alone discuss in depth with your attorney.  But, this is a topic you need to contemplate.  Estate planning is not only for the elderly, rich or those with families.  It is for anyone who wants to have control over what happens to his or her care and finances during incapacity as well as their assets after he or she dies.  The Massachusetts estate planning attorneys at Hutchings Barsamian Mandelcorn, LLP have over thirty years of experience assisting clients in every category create and execute comprehensive estate plans.

If you die without an estate plan, the intestacy laws of the State of Massachusetts will dictate how your assets are distributed.  Therefore, by failing to create an estate plan you are essentially relinquishing control to the state.  On the other hand, if you create an estate plan now, and review it periodically throughout the remainder of your life, you can ensure that your assets are distributed to your liking after your death.  This could include bequests to your relatives, as well as other individuals and organizations.  You can also protect your assets during your life and after as well as minimize estate and gift taxes.

Asset Protection

As the average lifespan increases from year to year, it becomes more likely that an individual will require long-term care in the last years of life.  Unfortunately, if not planned for, long-term care can eat up a sizable nest egg in a short period of time.  If you engage in Medicaid planning during the golden years, you can make it much more likely that these costs will be paid by the government and that your assets will be left to your loved ones.  The attorneys at Hutching Barsamian also help to protect your assets by avoiding unnecessary probate and guardianship/ conservatorship costs. 

Another aspect of asset protection is sheltering assets from others such as creditors and divorcing spouses.  Using trusts and other estate planning tools, you can effectively insulate your assets before and after your death.  

Tax Minimization

For some, it costs a great deal of money to die.  While only estates worth over a certain amount of money are subject to federal and state estate taxes (the federal estate tax exemption is currently $5.43 million and the Massachusetts estate tax exemption is currently $1 million), an experienced estate planning attorney can help even those minimize the substantial tax burden.  Hutchings Barsamian attorneys regularly use transfers during the client’s life and after his or her death, as well as trusts and other vehicles, to limit the amount of taxes to be paid by an estate.  This ensures that your assets end up where you want them instead of in government coffers.

Charitable Giving

It might be your wish to leave assets to charitable organizations or causes of your choice.  This is an admirable desire, and our attorneys will make it as easy as possible for you to accomplish this goal.  An estate plan can be set up a variety of ways to maximize the benefits to the organization or cause you wish to leave assets to and to the other beneficiaries of your estate.

If you are in the Newton, Weston or Hingham, Massachusetts area and are considering estate planning, contact the skilled attorneys at Hutchings Barsamian today.  You can call our office in Wellesley Hills at (781)207-1717.

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110 Cedar Street, Suite 250, Wellesley Hills, MA 02481
| Phone: 781.431.2231

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© 2015 Hutchings Barsamian Mandelcorn, LLP | Disclaimer | EP News
110 Cedar Street, Suite 250, Wellesley Hills, MA 02481
| Phone: 781.431.2231
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