Estate Planning in Taunton, Fall River, Dartmouth, Acushnet, and Bridgewater, MA
In today's world, it’s easy to overlook estate planning. Between juggling work, family, and daily responsibilities, creating an estate plan might not seem urgent—after all, you have time, right? But the truth is that estate planning can’t wait, especially in Massachusetts. Whether you live in Taunton, Fall River, Dartmouth, Acushnet, or Bridgewater, having a comprehensive estate plan is essential to protecting your assets and ensuring your loved ones avoid unnecessary legal hurdles. Estate planning isn’t just for the wealthy—it’s for everyone. So why does estate planning matter, and why can’t it wait? Let’s explore why acting now is crucial for your family’s future.
What Is Estate Planning?
At its core, estate planning is the process of deciding how your assets—whether it's your home, bank accounts, retirement savings, personal belongings, or other possessions—will be managed and distributed after your death or if you become incapacitated. It’s about protecting your loved ones and ensuring that your wishes are followed. An estate plan can include documents like a will, trust, powers of attorney, healthcare proxies, and guardianship designations.
For many, estate planning seems like something that’s reserved for the rich or elderly. However, every adult should have a plan in place. Regardless of your age or wealth, having an estate plan is essential. It can protect your family from financial burdens, prevent legal complications, and ensure that your hard-earned assets go to the people you care about most.
The Risks of Delaying Estate Planning
While it’s tempting to put off estate planning, waiting too long can lead to unintended consequences. Here are some of the primary risks of not having an estate plan in place or delaying the creation of one:
The State Decides What Happens to Your Assets
If you die without a will or estate plan, Massachusetts’ intestacy laws will dictate how your property is distributed. Under these laws, your estate may be divided among your family members according to a set formula—whether or not that aligns with your wishes. For example, Massachusetts intestacy laws state that if you die without a spouse or children, your estate will go to your closest relatives, like siblings or parents, regardless of any personal arrangements or relationships.
This can create confusion, conflict, and unnecessary delays, especially if you have specific wishes about how your assets should be divided. Creating a will ensures that your assets go to the people you want them to, and it can help your loved ones avoid the complications of probate and lengthy court processes.
Family Disputes Over Your Estate
Family disagreements over an inheritance can be incredibly costly and emotionally draining. When you don’t have an estate plan, your family may be left with different interpretations of your wishes, leading to disputes that could tear apart relationships. This is particularly common when a person passes without clear instructions regarding asset distribution, guardianship for minor children, or the care of family members.
Estate planning can help minimize family disputes by making your intentions clear. It’s also a way to express how you want your family to handle your estate and assets, reducing the chance of conflict during an already difficult time.
The Burden of Probate
In Massachusetts, as in many other states, when someone dies without an estate plan, their estate will likely have to go through probate. Probate is a legal process in which the court oversees the administration and distribution of the deceased’s assets. While the process can be relatively straightforward for simple estates, it can become expensive and time-consuming for more complex ones.
Probate can take several months or even years, depending on the complexity of the estate. Additionally, the court may appoint an administrator to oversee the process, often requiring additional legal and court fees. A well-structured estate plan that includes a trust, for example, can help your family avoid probate, saving time, money, and stress.
The Possibility of Higher Taxes
One of the most significant benefits of estate planning in Massachusetts is the ability to minimize estate taxes. Massachusetts has an estate tax with a much lower exemption threshold than the federal government. As of 2025, if your estate exceeds $2 million, it will be subject to Massachusetts estate taxes. This includes your primary residence, which could be especially problematic if you own a home in one of Massachusetts’ more expensive neighborhoods.
If you don’t have an estate plan in place, your heirs could face significant tax burdens when they inherit your assets, especially if they include a high-value property. Proper estate planning—particularly tax-efficient strategies such as using trusts or gifting strategies—can help reduce your estate’s tax liability and preserve wealth for future generations.
Massachusetts-Specific Considerations for Estate Planning
While the principles of estate planning are universal, Massachusetts residents face some unique challenges and opportunities when it comes to protecting their assets. Understanding these state-specific rules is key to effective estate planning.
Massachusetts Estate Tax
As mentioned earlier, Massachusetts’ estate tax kicks in for estates valued over $2 million. This means that even if your estate isn’t large by national standards, it may still be subject to significant taxes under Massachusetts law. The estate tax is calculated based on the total value of your estate, including your home, bank accounts, investments, and other assets. However, there are strategies you can use to reduce your taxable estate, such as establishing a trust, gifting assets during your lifetime, or using tax-advantaged accounts.
By working with an experienced estate planning attorney, you can ensure that your estate plan includes provisions to minimize the impact of Massachusetts estate taxes and preserve more wealth for your heirs.
Healthcare Proxies and Durable Powers of Attorney
In Massachusetts, it’s essential to include healthcare proxies and durable powers of attorney as part of your estate plan. These documents allow you to designate someone to make medical decisions on your behalf if you are unable to do so due to illness or incapacity. Without a healthcare proxy, your loved ones may have to go through a lengthy and potentially contentious legal process to gain authority to make decisions for you.
A durable power of attorney, on the other hand, allows someone you trust to handle your financial matters if you become incapacitated. This is particularly important for individuals who may have complex financial situations or who rely on someone to manage their affairs.
Both of these documents are crucial components of a well-rounded estate plan and can help ensure that your healthcare and financial decisions are made by someone you trust, without unnecessary delays or complications.
Probate Court and Guardianship
If you have minor children or dependents, it’s especially important to include guardianship provisions in your estate plan. In Massachusetts, if something were to happen to you and your spouse, the courts would decide who becomes the guardian of your children if you don’t have a clear designation in place. This process can be stressful for your family and may not result in the outcome you would have wanted.
By naming a guardian in your estate plan, you ensure that your children will be cared for by someone who shares your values and who you believe will provide them with a stable and loving home. This designation should be updated periodically, especially as your children grow and circumstances change.
Why Estate Planning Can't Wait: Real-Life Scenarios
While it’s tempting to think that estate planning is something you can put off for later, consider these real-life scenarios to understand just how critical it is to act sooner rather than later.
Scenario 1: The Unexpected Illness
Imagine a scenario where you’re suddenly diagnosed with a serious illness, and you’re unable to make decisions for yourself. Without an estate plan in place, your family members may face legal hurdles in trying to access your accounts or make decisions about your care. A healthcare proxy and durable power of attorney could allow someone you trust to step in and make decisions on your behalf without a court’s intervention.
Scenario 2: The Family Dispute
You pass away unexpectedly, and your estate is left without clear instructions on how to distribute your assets. This leads to a family dispute over your belongings. Your siblings may argue over who should get the family home, and the lack of a will could create lasting divisions in your family. With a comprehensive estate plan, you can avoid such disputes and make sure your estate is distributed according to your wishes.
Scenario 3: The Unexpected Tax Burden
You’ve worked hard to build your wealth, but without an estate plan, your heirs are hit with an unexpected estate tax bill that forces them to sell off assets—perhaps even your family home. By planning ahead and using tax strategies, you can minimize this burden and ensure that your family doesn’t have to sacrifice the assets you’ve worked so hard to acquire.
When Should You Start Planning?
The time to start planning is now. Estate planning can't wait, and the sooner you begin, the sooner you can ensure that your wishes are honored and that your loved ones are protected from unnecessary stress and financial hardship. Whether you’re just starting to accumulate assets, are nearing retirement, or are already retired, it’s never too early or too late to create or update your estate plan.
How Percy Law Group Can Help Residents in Taunton, Fall River, Dartmouth, Acushnet, and Bridgewater, MA
At Percy Law Group, we understand the importance of estate planning and the unique needs of Massachusetts residents, including those in Taunton, Fall River, Dartmouth, Acushnet, and Bridgewater. We work with clients to create customized estate plans that protect their assets, minimize taxes, and ensure that their wishes are carried out. Whether you’re drafting a will, setting up a trust, or planning for healthcare decisions, our experienced attorneys are here to guide you through every step of the process.
Contact us today to schedule a free consultation and begin building a secure future for you and your loved ones in Taunton, Fall River, Dartmouth, Acushnet, and Bridgewater, MA.