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
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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