A Will, also known as a Last Will and Testament, is used to direct how your assets are distributed at the time of your death. It allows you to:
Do You Need A Will?
- express how you want your assets to be divided and who will inherit them after your death;
- choose a guardian to take care of your minor children; and
- name a personal representative to oversee the probate of your estate.
Why a Will May Not Be Enough
Although a necessary starting point, a Will alone may not be enough to meet your needs. Depending on your personal goals and objectives regarding estate planning, a Will may fall short based on the following considerations. A Will:
- does not go into effect in the case of incapacity; only at your death
- does not avoid Probate
- only allows for lump-sum/ outright distributions to beneficiaries.
- offers no asset protection
- offers no estate tax planning.
If your estate planning goals include any of the above, then a Trust plan is better suited for you and your family.
Do You Need A Trust?
Should a Will alone fall short of your estate planning goals, a Living Trust, is an ideal planning option. A Living Trust enables the coordinated distribution of all of your assets, while maintaining the greatest degree of asset control and flexibility – both during your lifetime and after death.
There are many important benefits of Trusts beyond federal and MA estate tax considerations such as:
- Avoiding probate and ensuring a smooth transition
- Protecting assets
- Planning for incapacity or disability (without Court oversight)
- Controlling distributions to beneficiaries (give what you have…to whom you want, the way you want, when you want)
- Maintaining 100% privacy
Socius’ Will-based Plans
A Will is a necessary starting point in every estate plan. At the Socius Law Firm, we offer individuals and families a Will-based plan that is designed for people who do not have assets that would be required to go through Probate, but want to ensure that:
- their minor children are protected and cared for no matter what;
- their health care wishes become directives; and
- their loved ones can access their assets using a durable power of attorney should they become incapacitated
See what is included if you choose a Will-based Family plan.
Socius’ Trust-based Plans
One of the most common misperceptions regarding Trusts is that they are only for the super wealthy who have large taxable estates. This couldn’t be further from the truth! Socius’ Trust-based plans are designed for people who have assets that would require probate, and thus want the assurance that assets will be transferred to heirs with the most ease and convenience possible without probate court involvement. Individuals and families that choose a Trust-based Plan may also opt to protect beneficiary’s inheritance from lawsuits or spouses (i.e., asset protection) and reduce and/or eliminate estate taxes (i.e., estate tax planning).
See more on why a Trust may be best for you.
See what’s included in our Trust-based Plans.
How Much Does a Will Cost?
Socius’ Will-based plans start at a flat-fee of $1,000. See our plan options.
How Much Does a Trust-based Plan Cost?
Trust plans with Socius begin at a flat-fee of $3,500 and can be created as an individual or couple and as outright gifts or sub-trusts. Get more detail on our Trust-based plans.
Still uncertain regarding which estate planning tool may be best for you and your family? See how they stack up here.
Satisfied Client Stories
“Reach out to Todd Rosenfield! I highly recommend Socius as an estate planning law firm. He will walk you step-by-step through the process. As our needs or priorities change in life, we plan to continue working with Todd to help advise us to make necessary changes.”
by Mark S., Westborough, MA
“Todd’s approach to navigating the estate planning design process helped us understand legal concepts that otherwise might have been confusing or made us feel uncertain. We were unconditionally satisfied every step of the way, including the pace of events leading to our completed Estate Plan.”
by Nick & Patty N., Hopkinton, MA
“We had been putting off getting our estate in order which included our wills for far too long. In our first meeting with Todd we felt very comfortable talking to him and he would take the time to explain everything as well as answering all of our questions. We feel that he did a great job for us and was very knowledgeable in this field. We would highly recommend Socius as an estate planning law firm to anyone wanting to do Estate Planning.”
by Richard M., Northborough, MA
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508.870.5759