Probate is the process by which a deceased person's property, known as the "estate, " is passed to his or her heirs and legatees (people named in the will). A trust is a legal arrangement through which one person (or an institution, such as a bank or law firm), called a "trustee, " holds legal title to property for another person, called a "beneficiary."
Just as we create estate plans for our eventual demise, we also need to plan ahead for the possibility that we will become sick and unable to make our own medical decisions.
Just as we create estate plans for our eventual demise, we also need to plan ahead for the possibility that we will become sick and unable to make our own medical decisions.
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Attorney Patricia J. Mello of Patricia Mello & Associates, P.C. in Mashpee, Massachusetts is a member of Massachusetts Bar Association and the National and Massachusetts Academy of Elder Law Attorneys. The Academy is a professional association of lawyers who are dedicated to improving the quality of legal services provided to the elderly.
What is Long-term Care Planning? Sometimes also referred to as "Medicaid" planning, a Long-term Care Estate plan describes an estate plan that plans to protect and preserve assets in the event either spouse should require Long-term Care in a Nursing home. Even several months privately paying in a Nursing Home in Massachusetts can devastate a family financially and potentially impoverish the well spouse.
The emotional trauma brought on by the death of a close family member often is accompanied by bewilderment about the financial and legal steps the survivors must take. The spouse who passed away may have handled all of the couple's finances. Or perhaps a child must begin taking care of probating an estate about which he or she knows little.
In Massachusetts, your Last Will and Testament is viewed by the Courts as your last words on Earth. Your Will is your chance to be sure that your final wishes are properly articulated and followed by the next generation. It is essential that you have a Will that is drafted under Massachusetts law that clearly states what you would like done with your estate after your passing.
Medical science has created many miracles, among them the technology to keep patients alive longer, sometimes indefinitely. As a result of many well-publicized "right to die" cases, states have made it possible for individuals to give detailed instructions regarding the kind of care they would like to receive should they become terminally ill or are in a permanently unconscious state.
