Attorney Allison prepares basic estate plan documents for his clients. The following information provides a brief description of estate plan documents:
A Will allows you to:
- Determine who will receive your assets when you die;
- Appoint an executor to administer the estate;
- Appoint a guardian to care for minor children in case both parents die;
- Keep children’s or grandchildren’s shares of the estate in trust until they attain the age you wish for them to receive their shares;
- Appoint trustees to manage the trust for the benefit of the children;
- Revoke all prior wills;
- Change or revoke the will during your lifetime.
Durable Power of Attorney allows you to name someone you know and trust to conduct all of your business affairs for you when you are disabled or incapacitated. This person is called your lawful attorney.
Among the powers of your lawful attorney are the following hold, invest and manage any real and personal property; collect payments; pay bills; deposit money into banking accounts; prepare, sign, file or consent to file tax returns; to employ agents and attorneys for any purpose and to pay them; and to manage, care for and conduct your business and financial affairs.
Health Care Proxy allows you to determine who will make health care decisions for you when, for whatever reason, you are unable to make or communicate those decisions. This person is called your Health Care Agent (Agent).
Among the powers of your agent are the following to receive any medical information regarding you and to disclose the information to others; to arrange your admission or discharge from any facility; to contract for any health care at your expense; to employ and discharge health care providers; and to do all things necessary to carry out the intent of the Health Care Proxy.
Declaration of Homestead:A homeowner in Massachusetts may obtain protection up to $500,000.00 of the equity in their principal residence. This is accomplished by recording a written document, with the correct statutory language, in the Registry of Deeds for the county in which the property is located.
The homestead protection does not apply to several situations including: sales for titles, a debt contracted before the recording of the Declaration of Homestead, a debt contracted for the purchase of the home, and alimony and child support.
Get the legal help you need. Call Robert Allison at 978-338-4209 or send us an e-mail.
