Estate Planning: Frequently Asked Questions

Yes. Estate planning is about far more than taxes. A basic plan ensures your assets go to the people you choose, names guardians for minor children, designates who can make financial and medical decisions if you become incapacitated, and spares your family unnecessary cost, delay, and conflict. Everyone over 18 should have at least a will, a durable power of attorney, and a health care proxy. This can be especially important for children away at college. 

A will directs how your probate assets are distributed at death and only takes effect after you die — and after the will is filed with the probate court. A trust can take effect during your lifetime, manage assets if you become incapacitated, keep your affairs private, and allow assets to pass to beneficiaries without probate. Many plans use both: a revocable trust as the centerpiece, with a "pour-over" will as a safety net.

It depends on how your assets are titled. Assets held in trust, owned jointly with rights of survivorship, or governed by beneficiary designations (like retirement accounts and life insurance) generally pass outside probate. Assets held in your individual name alone typically require probate. With proper planning, most or all of the probate process can be avoided — saving your family time, expense, and public disclosure of your affairs.

Massachusetts imposes its own estate tax separate from the federal estate tax, and its threshold is far lower ($2m, not indexed for inflation) than the federal exemption ($15m in 2026, indexed for inflation starting in 2027). Many families who would never owe federal estate tax — particularly homeowners in Eastern Massachusetts, where real estate values alone can approach the threshold — are surprised to learn they have Massachusetts estate tax exposure. Planning techniques such as credit shelter trusts for married couples and lifetime gifting can significantly reduce or eliminate this tax.

Your assets will be distributed according to Massachusetts intestacy laws, which follow a fixed statutory formula — one that may not match your wishes, especially in blended families or for unmarried partners, who receive nothing under intestacy. The court will also decide who administers your estate and, if you have minor children, who serves as their guardian.

A durable power of attorney names someone to handle your financial affairs if you can't; a health care proxy names someone to make medical decisions on your behalf. Without these documents, your family may need to petition the probate court for a guardianship or conservatorship — a public, expensive, and often stressful process — just to manage your affairs during a period of incapacity. The importance of this document became clear with the ongoing pandemic, specifically in real estate deals, which would have been delayed or even in breach if one spouse was sick.  

Review your plan every three to five years, and sooner after major life events: marriage, divorce, births, deaths, a significant change in assets, a move to another state, or the purchase or sale of a business or real estate. Tax laws also change regularly — both the federal exemption and state rules — so a plan drafted years ago may no longer accomplish what you intended.

You can, but the risks are real. Generic forms don't account for Massachusetts law, tax exposure, blended family dynamics, beneficiaries with special needs, or how your assets are actually titled. Errors in execution or drafting often aren't discovered until after death — when they can no longer be fixed and the cost of resolving them falls on your family. Much of the value in estate planning is in the counseling, not just the documents.

Depending on the type, trusts can shelter assets from estate tax, remove future appreciation from your taxable estate, hold life insurance outside your estate, and provide income tax planning opportunities. Trust taxation is technical — trusts hit the highest income tax bracket quickly — and coordinating estate tax savings with income tax consequences is essential. As both an attorney and a CPA, I evaluate these trade-offs together rather than in isolation.

You can, but the risks are real. Generic forms don't account for Massachusetts law, tax exposure, blended family dynamics, beneficiaries with special needs, or how your assets are actually titled. Errors in execution or drafting often aren't discovered until after death — when they can no longer be fixed and the cost of resolving them falls on your family. Much of the value in estate planning is in the counseling, not just the documents. I have found that depending on family dynamics, it can be important to discuss the plans with your executors or loved ones as soon as possible, and understanding these documents is paramount to their usefulness. 

A supplemental needs trust allows you to provide for a loved one with a disability without jeopardizing their eligibility for public benefits such as MassHealth or SSI. Leaving assets to that person outright — or disinheriting them and hoping a sibling "takes care of it" — can have serious unintended consequences. These trusts require careful drafting and should be coordinated with the whole family's plan.

It depends on the complexity of your situation, but planning is almost always far less expensive than the alternative: probate fees, avoidable taxes, guardianship proceedings, or litigation among family members. Most plans are quoted as a flat fee after an initial consultation, so you know the cost before committing.