Estate planning in Massachusetts involves more than just a basic will. This comprehensive checklist outlines possible documents you might need for a thorough estate plan, from essential legal instruments to specialized trusts and supplementary instructions.
While most people do not require every document listed, this guide serves as a complete reference to help you consider all aspects of your estate planning needs in Massachusetts based on your unique situation, family dynamics, and financial circumstances. You can always contact our estate planning attorney at Law Office of Ellen G. Carita, PLLC at 781-444-4117 to schedule a consultation. We can review this checklist with you to determine which documents are necessary for your specific estate plan.
Core Legal Documents
Last Will and Testament
☐ Names beneficiaries, personal representative (executor), guardians/conservators for minors
☐ Contains specific bequests
☐ Outlines funeral/burial wishes
Revocable Living Trust
☐ Names trustee and successor trustees
☐ Identifies beneficiaries
☐ Contains asset transfer provisions
☐ Includes distribution instructions
Durable Power of Attorney
☐ General (broad powers)
☐ Limited/Specific (restricted to certain actions)
☐ Durable (remains effective during incapacity)
☐ Springing (becomes effective upon specific event)
Health Care Documents
☐ Health Care Proxy
☐ Living Will/Advance Healthcare Directive
☐ HIPAA Authorization Forms
☐ Physician Orders for Life-Sustaining Treatment (POLST or MOLST for Massachusetts)
☐ Do Not Resuscitate (DNR) Order
Specialized Trusts
☐ Irrevocable Life Insurance Trust (ILIT) (removes life insurance from taxable estate)
☐ Special Needs Trust (preserves government benefits eligibility and provides supplemental care)
☐ Charitable Trusts (Charitable Remainder Trust and Charitable Lead Trust)
☐ Qualified Terminal Interest Property Trust (QTIP) (provides for surviving spouse while preserving assets for children)
☐ Generation-Skipping Trust (transfers assets to grandchildren or later generations)
☐ Grantor Retained Annuity Trust (GRAT) (freezes asset values for transfer tax purposes)
☐ Qualified Personal Residence Trust (QPRT) (removes home from taxable estate)
☐ Spendthrift Trust (protects assets from beneficiary's creditors)
☐ Bypass/Credit Shelter Trust (maximizes estate tax exemptions for married couples)
☐ Qualified Domestic Trust (QDOT) (for non-U.S. citizen spouses)
☐ Dynasty Trust (preserves wealth for multiple generations)
☐ Pet Trust (provides for care of pets after owner's death)
Business Documents
Business Succession Plan
☐ Buy-Sell Agreement
☐ Operating Agreement updates
☐ Key Person Insurance policies
Family Limited Partnership/LLC Documents
☐ Partnership/Operating Agreement
☐ Membership/Ownership certificates
Financial Documents & Designations
List of Assets and Liabilities
☐ Comprehensive inventory
Beneficiary Designation Forms
☐ Retirement accounts (401(k), IRA, pension)
☐ Life insurance policies
☐ Annuities
☐ Transfer on Death (TOD) designations for investment accounts
☐ Payable on Death (POD) designations for bank accounts
Real Estate Documents
☐ Deeds
☐ Mortgage information
☐ Property tax information
☐ Transfer on Death Deed (in applicable states)
Digital Asset Inventory & Access Instructions
☐ Usernames and passwords
☐ Digital wallet information
☐ Account access instructions
Supplemental Documents
Letter of Instruction
☐ Personal messages to loved ones
☐ Explanation of decisions
☐ Location of important documents
Funeral and Burial Instructions
☐ Pre-paid funeral arrangements
☐ Specific wishes for services and disposition
Family Medical History
☐ Relevant genetic information
Personal Property Memorandum
☐ Specific gifts of tangible personal property
☐ Attached to will in many states
Tax Planning Documents
☐ Gift Tax Returns (Form 709) (records of lifetime gifts)
☐ Estate Tax Returns (Form 706) (filed for taxable estates)
☐ Income Tax Returns (prior years' returns)
☐ Basis Information for Assets (purchase records for investments and property)
Insurance Documents
☐ Life Insurance Policies (term life and permanent life policies)
☐ Long-Term Care Insurance (policy details and claims process)
☐ Disability Insurance (policy information)
Additional Specialized Documents
☐ Organ Donation Forms
☐ Authorization for Final Disposition (legal authority to handle remains)
☐ Community Property Agreements (for residents of community property states)
☐ Marital Property Agreements (pre-nuptial and post-nuptial agreements)
☐ Cohabitation Agreements (or unmarried partners)
☐ Guardianship/Conservatorship Documents (for dependent adults)
☐ Trust Protector Provisions (appoints individual with authority to modify trust)
☐ Foreign Asset Documentation (foreign bank accounts, foreign real estate, FBAR filings)
☐ Citizenship/Residency Documentation (for multi-national families)
Contact an Estate Planning Attorney in Needham Today
These documents may have different requirements or varied names across states. Some states may not recognize certain documents when executed in another state if they don't comply with local laws. Always reach out to our estate planning attorney in Massachusetts at 781-444-4117 to avoid potentially costly mistakes.
