Estate Planning | Will
A will is the cornerstone of an estate plan that essentially:
- outlines how your probate assets will be distributed;
- names the person who will handle your estate in accordance with your will (i.e., executor);
- appoints guardianship over your minor children; and
- directs the executor on how to pay any estate taxes and related estate expenses.
Our Cambridge estate planning lawyers are here to help you! Depending on a person’s desires and the nature of his or her estate, a will can be a simple or a very complex document. A will can be very specific, allowing for particular gifts and providing for various stated contingences, or it can be very general in nature and dispose of classes of property. In some instances, a will might contain a testamentary trust or “pour over” into an established trust.
Careful thought should go into the preparation of a will to ensure that it accurately and completely reflects your specific desires and financial situation. The failure of a will to properly reflect these desires or omit certain provisions can have unintended and sometime disastrous consequences, such as a gift failing, an unintended tax consequence or, worse yet, the failure of the will altogether.
In addition to carefully drafting the will, care should also be taken to ensure that the will is executed in accordance with governing law. Failure to adhere to legal formalities could be grounds to deny the will and/or some of its provisions.
It is strongly recommended that a reputable Cambridge Estate Planning lawyer prepares or at lest reviews your will to ensure that it is complete and binding.
Contact our Cambridge Estate Planning lawyers today at 781-674-2562 to speak with an estate planning attorney about the preparation or review of your will.