Wills can come in many different forms. They are most commonly written down and formally submitted during the lifetime of the willmaker. However, not everyone makes a will formally before the end of their life; therefore, in some limited circumstances in the state of Massachusetts, certain people can make an oral will before the end of their life.
When a person does not make a will, or when a person's will cannot be legally validated, intestate law is the name for the procedure that is put in place in order to transfer the remaining estate to the appropriate beneficiaries. This can be very difficult to do, because the wishes of the deceased person are not known.
When a couple is married, it is taken for granted that in the event of the divorce, assets will be divided. However, in the process of filing for a divorce, the question of what happens to an inheritance fund becomes more murky.
Losing a loved one can be one of the most difficult times in a person's life. Along with the existence of emotional difficulty, there can also be added stress and tension due to the fact that you will need to sort out the financial affairs. It is important that you get the support of family and friends at difficult times such as these, so that they can offer both emotional and practical support.
There may come a time in your life when certain circumstances change: Perhaps you go through a divorce, you lose a loved one or you gain a grandchild or a new family member. In situations such as these, it is understandable that you would want to go through the process of modifying a will so that your wishes are accurately represented.
A person's final wishes for what should happen in regard to his or her estate should take place within a legally binding will. The laws in regard to wills are quite similar in every state; however, it is important to understand the slight differences in the law that the state of Massachusetts has.
The vast majority of wills get passed and go through the probate process smoothly. However, in around 1 percent of cases, there is an issue where for one reason or another the will is not deemed to be valid.
It is estimated that over 65 percent of people in the United States have not written their will yet. Many find the act of writing a will and facing the prospect of the end of their lifetime to be an unsettling feeling, and therefore, a task that they would rather postpone. However, writing a will can be a very rewarding experience where you can take pleasure in defining the legacy that you leave behind.
Creating a will or a trust is as much about planning the legacy that you will leave for future generations as it is about achieving a peace of mind for yourself so that you know everything will be taken care of at the end of your life. In this way, it is natural for people to be concerned about relatively common problems that occur in relation to wills, trusts and probate. One of these issues is when loved ones appeal against the conclusion of the will based on the grounds of undue influence.
There are several different types of probate procedures when dealing with a deceased person's estate, and this can mean that it can be overwhelming to choose the best process for the situation that you are facing.