Estate Planning Lawyers in Beverly, MA
At Silveri + Wilson, our estate planning lawyers are dedicated to crafting personalized plans that protect your assets, secure your legacy, and provide peace of mind for you and your loved ones. Estate planning is more than drafting documents. It’s about ensuring your wishes are honored, your family is cared for, and your financial future is safeguarded. Whether you need a Will, Revocable Living Trust, or advanced elder law strategies, we guide you through every step with compassion and skill. To start the conversation today, book a call online here, call us at 978-767-8540, or email us.
Why Estate Planning Matters
A comprehensive estate plan addresses critical questions about your future and your family’s well-being, including:
Incapacity Planning
Designating trusted individuals to make financial and healthcare decisions through a Durable Power of Attorney or Health Care Proxy if you’re unable to act.
Asset Distribution
Directing how your assets will be distributed upon your passing, minimizing taxes and avoiding probate with a Revocable Living Trust.
Guardianship for Minors
Nominating guardians to care for your minor children.
Family Harmony
Minimizing stress and conflicts with clear instructions for asset distribution and decision-making.
Asset Protection
Shielding your wealth from creditors, long-term care costs, or estate taxes through trusts like the Irrevocable Medicaid Asset Protection Trust.
With a tailored estate plan, you gain confidence that your legacy is secure and your loved ones are protected.
Our Estate Planning Services
Our estate planning attorneys offer a full range of services to meet your unique needs. We take the time to understand your goals and design solutions that align with your personal and financial priorities.
Revocable Living Trust (RLT)
A Revocable Living Trust allows you to manage and distribute assets efficiently while avoiding the time, cost, and public exposure of probate. An RLT provides flexibility during your lifetime, supports incapacity planning, and can minimize estate taxes. By transferring assets into the trust, you ensure a private, streamlined transition to your beneficiaries.
Irrevocable Life Insurance Trust (ILIT)
An Irrevocable Life Insurance Trust removes life insurance proceeds from your taxable estate, reducing estate taxes and providing tax-free benefits to your beneficiaries. An ILIT also allows you to control how proceeds are distributed, ensuring they align with your wishes.
Irrevocable Medicaid Asset Protection Trust (MAPT)
An Irrevocable Medicaid Asset Protection Trust ("MAPT") is designed to help individuals qualify for Medicaid while preserving their assets for their beneficiaries. By transferring assets into a MAPT, you exclude them from Medicaid eligibility calculations after the applicable look-back period. This helps to safeguard you from a lien for long-term care costs and other creditors. Additionally, MAPTs allow for the controlled distribution of assets to beneficiaries, ensuring that wealth is passed on without directly impacting Medicaid qualifications. A MAPT is also known as an Irrevocable Income Only Trust ("IIOT").
Last Will & Testament
A Will specifies what happens to your probate property upon your passing. It nominates guardians for minor children, directs asset distribution, and appoints a Personal Representative to manage your estate. An estate plan that only contains a Will must go through the probate process. A trust funded with assets during your lifetime avoids the time, expense, and public exposure of probate.
Durable Power of Attorney
A Durable Power of Attorney allows you to designate an agent (also known as an "attorney-in-fact") to manage your assets and day-to-day affairs in the event of your incapacity. Selecting the correct person to serve this role is critical.
Health Care Proxy
A Health Care Proxy allows you to designate an agent to act on your behalf to make healthcare-related decisions for you, in the event of your incapacity. Like the Durable Power of Attorney, choosing your agent demands careful consideration.
Living Will
A Living Will expresses your wishes regarding end-of-life medical treatment if you’re incapacitated with no hope of recovery. While non-binding in Massachusetts, it provides valuable guidance to your healthcare providers and family.
Elder Law and Long-Term Care Planning
Our elder law services help you protect your assets and plan for long-term care. Strategies like the Irrevocable Medicaid Asset Protection Trust, Life Estate Deeds, and Testamentary Trusts safeguard your wealth while ensuring Medicaid eligibility.
Start Planning Your Legacy Today
No matter the size or complexity of your estate, Silveri + Wilson is here to create a customized estate plan that evolves with your life. Protect your assets, secure your future, and gain confidence in your legacy. To start the conversation today, book a call online here, call us at 978-767-8540, or email us.