Accomplished Wills and Trusts Lawyers
We help our clients pass their wealth to the next generation
Every person, no matter their level of income, should leave behind detailed instructions for their loved ones regarding how to confront his or her final affairs. These instructions must take the form of a valid will or trust. Otherwise, your property is distributed according to rules of intestate succession without regard for any desires you may have communicated to your loved ones during your life.
At Coolidge Wall, our experienced attorneys have helped clients throughout the state give their families’ peace of mind through prudent estate planning. We work with you to understand what your goals are for your property after you are gone. We then use the full array of legal tools at our disposal to incorporate those goals into a comprehensive estate plan.
Importance of thorough and well-drafted wills
After you are gone, your will is all that remains to communicate your final wishes. Omissions and ambiguities can create major problems, including administration difficulties and disagreements among beneficiaries. Contesting a will can cost thousands in legal fees; doing everything possible to avoid ambiguities and questions of validity is crucial to preserving the contents of your estate. Our attorneys use their substantial drafting experience and knowledge of state and federal laws to ensure integrity of your estate plan.
Not all property is subject to probate, and one of the keys to effective estate planning is removing as much property from the probate estate as possible. Examples of non-probate property that transfers to your loved ones automatically and without court intervention include:
- Jointly held property
- Bank and investment accounts with a named beneficiary
- Life insurance proceeds
Unfortunately, avoiding probate does not prevent that property from being counted for estate tax purposes and can have other tax implications as well. Our estate planning attorneys at Coolidge Wall can help you structure your assets to minimize probate without causing unintended ancillary effects.
How trusts can benefit you
A trust is a legal device by which an individual takes possession of property donated by another and manages it for the benefit of others subject to any limitations that the trust’s creator imposes. Trusts are diverse tools that estate planning attorneys frequently use to accomplish numerous objectives.
Trusts can be useful for estate tax planning and can help protect assets for family members who are young, disabled or otherwise unable to handle money. Certain types of trusts can also provide asset protection.