Estate Planning in Massachusetts: Protecting Your Legacy and Your Loved Ones

At The Charles King Group, one of the most common questions we hear from clients is:

“Do I really need an estate plan?”
Or just as often: “Where do I even start?”

Whether you’re buying your first home, building a real estate portfolio, growing a business, or preparing for retirement, estate planning in Massachusetts is one of the most important steps you can take to protect everything you’ve worked hard to build.

While we are real estate and investment professionals—not estate planning attorneys—we work closely with trusted Massachusetts estate planning lawyers. Our goal is simple: help ensure your assets, your family, and your long-term wishes are fully protected.

Estate planning isn’t just paperwork. Done properly, it safeguards your wealth, minimizes estate taxes, reduces probate complications, and protects your loved ones from unnecessary stress.

What Is Estate Planning?

Estate planning is the process of organizing your financial and personal affairs so that:

• Your assets are distributed according to your wishes

• Your healthcare decisions are respected if you become incapacitated

• Minor children are protected

• Estate taxes are minimized

• Probate complications are reduced

• Your family avoids unnecessary delays and expenses

For Massachusetts residents—especially homeowners and real estate investors—proper planning is critical due to the state’s estate tax structure and property laws.

Understanding the Massachusetts Estate Tax

Massachusetts imposes an estate tax on estates exceeding $1 million in value.

This includes:

• Primary residences

• Investment properties

• Financial accounts

• Business interests

• Personal property

Given rising property values across Massachusetts, many homeowners are surprised to learn how quickly they may cross this threshold.

Without strategic planning, estate taxes can significantly reduce what your heirs ultimately receive—and in some cases, force the sale of real estate assets.

Proactive estate planning can help minimize that impact and preserve generational wealth.

What Is a Living Will?

A living will outlines your wishes regarding medical treatment if you cannot communicate decisions yourself.

It typically addresses:

• Life-support measures

• Resuscitation preferences

• Artificial nutrition and hydration

• End-of-life care

Because healthcare laws and medical technology evolve, these documents should be reviewed periodically with an attorney to ensure they remain current and valid under Massachusetts law.

What Does a Basic Estate Plan Include in Massachusetts?

A foundational estate plan often includes the following:

1. Durable Power of Attorney

Allows you to appoint someone you trust to manage financial and legal matters if you become incapacitated.

2. Health Care Proxy

Designates someone to make medical decisions on your behalf. It also allows access to medical records so informed decisions can be made.

3. Declaration of Homestead (M.G.L. c.188)

Massachusetts law allows homeowners to file a Homestead Declaration to protect equity in their primary residence from certain creditors. For homeowners, this is a critical protection layer.

4. Last Will and Testament

A will:

• Names an executor

• Appoints guardians for minor children

• Distributes property according to your wishes

Without a will, Massachusetts intestacy laws determine distribution—often not aligned with your intentions.

5. Testamentary Trust

Created within a will, this type of trust can:

• Protect beneficiaries from creditors

• Provide structured distributions

• Offer greater long-term control

6. Revocable or Irrevocable Trusts

Trusts may:

• Help avoid probate in Massachusetts

• Provide privacy

• Reduce estate taxes

• Protect assets for children or special needs beneficiaries

For real estate investors and high-net-worth families, trusts are often a powerful planning tool.

7. Asset Transfer & Protection Strategies

Strategic lifetime transfers can simplify wealth transition and protect assets.

Because many of our clients hold significant real estate, coordinated planning between your real estate team and estate planning attorney is especially important.

Why Estate Planning Matters for Real Estate Owners

Many of our clients own:

• High-equity primary residences

• Multi-family properties

• Commercial real estate

• Growing rental portfolios

Without proper estate planning:

• Properties may be tied up in probate

• Estate taxes may force asset sales

• Heirs may face unnecessary legal challenges

• Wealth built over decades can erode quickly

We’ve seen firsthand how proactive planning protects families and preserves long-term real estate wealth.

Frequently Asked Questions

What Are the Benefits of Setting Up a Trust in Massachusetts?

Trusts offer:

• Greater control over distributions

• Potential estate tax reduction

• Protection from creditors

• Probate avoidance

• Increased privacy

• Faster access to assets for beneficiaries

For families with complex real estate holdings, trusts can be especially valuable.

How Can I Ensure My Healthcare Wishes Are Respected?

Two key documents are essential:

• Living Will – Specifies treatment preferences

• Healthcare Proxy – Appoints someone to make decisions for you

Clear communication and proper legal drafting are critical.

We Work With Trusted Estate Planning Attorneys

While we are not attorneys, we regularly collaborate with experienced Massachusetts estate planning lawyers to ensure our clients receive the right guidance.

If your estate plan isn’t up to date—or if you don’t have one—we’re happy to connect you with trusted professionals.

Final Thoughts: Estate Planning Is About Control

Estate planning isn’t just for retirees or ultra-high-net-worth families.

It’s for:

• New homeowners

• Growing families

• Real estate investors

• Business owners

• Anyone who wants control over their future

If you’ve built something valuable, you deserve a plan that protects it.

At The Charles King Group, we think long-term—not just about buying and selling real estate, but about protecting everything that comes with it.

If this is a conversation you’ve been meaning to have, let’s start it.

FAQ

What is the estate tax threshold in Massachusetts?

Massachusetts imposes an estate tax on estates exceeding $1 million in total value, including real estate, financial accounts, and personal property.

How can I avoid probate in Massachusetts?

Establishing a revocable trust, properly titling assets, and coordinated estate planning strategies can help avoid probate.

Is a living will legally recognized in Massachusetts?

Yes. A living will outlines your medical treatment preferences and is typically used alongside a healthcare proxy.

Do real estate investors in Massachusetts need a trust?

Many real estate investors use trusts to protect assets, avoid probate, and minimize estate taxes.