Do I really need a will if I don't have assets?

Do I really need a will if I don't have any assets? My answer is Yes if you have minor children! Even the smallest estates can benefit from a will. The biggest reason one needs a will is to name a guardian for any minor children. This is necessary even if the other parent is alive at the time you made the will. Why? Because anything can happen to anyone at any time and it is better to be prepared.

If you do not have a will naming a guardian for your children then it will be up to the court to decide who should have custody. While it is always the court that will approve a guardian, if you name a someone then that preference will be heavily considered and it would be up to a challenger to show why it is not in the child's best interests.

Do not assume that someone you think should be the guardian will end up as the guardian if you do not create a will. It is better for your children if you are prepared just in case rather than pass away unprepared.

If you would like to schedule a free consultation please email me or call Attorney Kara Fratto at (781) 205-4234. Thank you.

Why you should have an estate plan

Everyone should have a will. If you die without a will, then the law and courts of your state determines what happens to your assets and your minor children. So unless you have an inordinate amount of faith that the state legislature and the courts will do what you want, you need a written will to make your wishes known.

Documents just as important to have are a Health Care Proxy and a Power of Attorney.

A Health Care Proxy allows you to appoint a specific person to be your agent to medical decisions for you in the event that you become incapacitated and cannot make decisions. Health care proxies have become increasingly important today due to conflicts among relatives of the primary individual. In your proxy, you can specify what you want your agent to do should something happen to you (i.e. do not resuscitate, no life support etc).

A Durable Power of Attorney is a document that allows you to give another person (called your agent or attorney-in-fact) the ability to make financial and legal decisions on your behalf should you become incapacitated. Unless you have a valid power of attorney, the Probate Court needs to appoint a guardian or conservator to make decisions for you while you are incapacitated. The process is expensive and time-consuming and the court could appoint a total stranger to oversee your affairs. The proceedings can be contested and would be open to the public.

My fee for an estate plan (which includes a will, a health care proxy and a durable power of attorney) is $250.00. If you are a Massachusetts resident, you can contact me through my website or email me.

Law Office of Kara Fratto P.O. Box 205 Reading, Massachusetts 01867

Tel.: (781) 205-4234 Fax.: (781) 205-4840