Make Notes On Legal Massachusetts Personal Planning Forms For Free

Whether an estate has to be probated depends on how the decedent's (the person who has died) property is titled (owned) when they die. Some property may not be part of the probate estate because it passes directly to another person by law.

3 ? Unintended Heirs May Make Claims One of the biggest reasons to avoid probate in Massachusetts is to eliminate unintended heirs. If you don't have a valid will, intestate succession laws will be used to determine your heirs. Previously unknown or unintended heirs may submit claims.

The following assets are exempt from probate in Massachusetts: Property jointly owned with right of survivorship. Property held in tenancy by the entirety. Accounts with transfer-on-death (TOD) or payable-on-death (POD) designations. Small estates (under $20,000) Certain life insurance policies. Certain retirement accounts.

Now that you know what probate is and why you probably want to avoid it, let's move on to the most common ways to avoid probate. Joint ownership of property. ... Beneficiary designations. ... Pay-on-death and transfer-on-death accounts. ... Revocable living trust. ... Giving away property.

If you are unmarried with children, all of your estate will pass to your children in equal portions. If you are unmarried without children, your estate will pass to your parents in equal portions. If you have no surviving parent at the time of death, your assets will be divided among your siblings in equal portions.

Handwritten Will: A handwritten will is valid in Massachusetts as long as the testator signs and their signature is witnessed by two witnesses. Some states permit the use of a holographic will, a will in the testator's handwriting that they sign without any witnesses.