Those in the estate-planning industry remain in the dark about President Trump's intentions regarding tax reform. It's likely that his policies will benefit the wealthiest citizens, as he repeatedly stated while campaigning for president that he planned to get rid of the "death tax."
Some may be surprised to learn that family members battling over estates don't always fight over large sums of money, property or expensive items. Often the most pitched battles deal instead with family heirlooms that have minimal value to anyone not emotionally tied to the decedent's possessions.
Everyone needs to have a will drawn up, regardless of the size of their estate. However, every day Massachusetts residents die without wills, or intestate, which is the legal term when this occurs.
Survivors and heirs are often gratified to learn that they don't have to submit to a lengthy probate process in order to take possession of the few assets that are in very small estates of their loved ones. For instance, a voluntary administration can be initiated even when the decedent died intestate, as long as the following conditions are met: