Wills and Estate Planning

It's a tough conversation, but, Estate Planning is a critical process for both individuals and companies. It’s all about choice. Who receives your money, your real estate, your personal property, or even your children. A proper plan helps ensure beneficiaries receive the money and assets you choose. Without a will, the government decides the disposition of your assets and in often illogical and undesirable ways. In Massachusetts, for example, a single adult without children who dies intestate (without a will) will have all assets transferred to their parents. The assets of a married adult with children will automatically be split 50/50 between the surviving spouse and the children. A solid estate plan also factors in protection against legal challenges and liabilities, helps minimize estate taxes, and identifies the necessary insurance to cover these taxes and expenses should you choose to provide it. A well-conceived instrument can help heirs avoid probate, help protect beneficiaries from poor decisions, and avoid costly and prolonged fighting among survivors. For businesses, a well-drawn succession plan can address many of the same concerns, by providing an orderly transfer of authority and assets, and helping to designate funds and or insurance to ensure the business can survive the loss of a principal. And the principal's heirs will receive the value of the business they built up over the years.

GMO can assist you with:

  • Last Will and Testament
  • Living Will
  • Health Care Proxy
  • Probate
  • Declaration of Homestead

Failure to plan for this inevitability can take a huge financial and emotional toll on those left behind. GMO will take the time to understand the existing dynamics and relationships within your family, or business, to help anticipate and prepare for likely scenarios. Such discussion is necessary for a plan that will stand the test of time.