What Happens If You Die Without A Will Or Become Incapacitated Without a Durable Power of Attorney or Durable Power of Attorney For Health Care?

Who Can Make Decisions For You If You Are Unable To Do So Yourself?

Probate Court is the place you will have to go if you don’t have a Will or need a Guardian or Conservator appointed.  You will often have to wait several months for action by the Probate Court.  In many cases, you don’t have that much time for decisions to be made – see the Stock Market crash of the late Fall of 2008 and early 2009.  Time is money when you need fast action.

Then, for couples with children under the age of 18, you need to deal with the reality of life and death.  If both parents die, who is to be appointed for a minor child or children to manage their growing up and business affairs until they get to be of age?  Is 18, the age of majority, a time when you would want your children to inherit everything you have left in the way of worldly goods?

Would you spend $750 – $2,000 to avoid the need for Probate Court petitions that would probably start at the higher figure, in terms of cost to you?

Would you spend $2,000 to save $100,000?  For people with estates over one million dollars ($1 million) in Massachusetts, you can easily spend significant amounts of money for Mass. estate taxes.  Proper estate planning for a married couple can reduce or avoid any estate taxes up to $2 million.