Can You Use A Will To Avoid Probate In Massachusetts?
Avoiding probate is an estate planning goal of a lot of people—and with good reason. Probate can be a time-consuming, confusing, and even frustrating process. This raises an important question: Can you use your will to avoid probate in Massachusetts? The answer is “no”—while there are strategies to limit your exposure to probate, a will is not the right tool to avoid probate. Here, our Norwood estate planning lawyer explains the key things to know about setting up a will and minimizing your exposure to the probate process in Massachusetts.
Every Adult in Massachusetts Should Have a Will—But it Will Not Allow You to Avoid Probate
Every adult in Massachusetts should have a well-crafted, personalized will. A will is a foundational estate planning document. With that being said, a will cannot be used to help your estate avoid the probate process. Indeed, estates may be subject to formal probate in Massachusetts regardless of whether or not they had a will. While a will provides clear instructions to the probate court on how to distribute your assets, it still requires validation by the court to ensure its authenticity.
Three Estate Planning Tools that Can Help You Limit Your Exposure to Probate
Although a will cannot be used to help you avoid probate in Massachusetts, there are a number of different estate planning tools that can limit your estate’s exposure to probate. Here are three of the most notable ways to limit probate in Massachusetts:
- Joint Property (Right of Survivorship): Owning property jointly with the right of survivorship means that upon the death of one owner, the property automatically passes to the surviving owner(s) without probate. It is a method that is commonly used by married couples and can also be applied to real estate, personal property, and other assets.
- Beneficiary Designations: Beneficiary designations are a straightforward way to pass on assets like retirement accounts, life insurance policies, and certain bank accounts directly to a specified individual. These designations must be clearly listed and kept up-to-date.
- Trusts: Trusts are an estate planning tool that can help you avoid probate by allowing you to place assets under the control of a trustee for the benefit of your beneficiaries according to the terms you specify. Unlike wills, trusts do not generally have to go through probate in Massachusetts. A trust should always be established by an estate planning lawyer.
Massachusetts also allows for smaller estates to avoid full, formal probate. In some cases, estates may be resolved through voluntary administration ($25,000 or less) or informal probate. A Massachusetts attorney can help.
Speak to an Estate Planning Lawyer in Norwood, MA
At Fisher Law LLC, our attorney provides solutions-focused estate planning, estate administration, and probate law services. If you or your loved one has any questions about avoiding probate, please do not hesitate to contact us for a confidential consultation. With an office in Norwood, we handle estate planning matters throughout all of the surrounding communities.
