I. ESTATE PLANNING AND PROBATE

Why do we need estate planning?
Both the state of Massachusetts and the federal government impose a tax on the estate of a deceased person. The federal estate and gift tax is imposed at the highest percentage rate of any tax in America. Ware & Goodman use a variety of techniques to reduce or eliminate the imposition of this death tax without interfering with your economic objectives.

If you are want to support a favorite charity, there are several ways the firm can magnify benefits to your family while assisting the charitable entity.

Whether or not estate taxes are not your primary concern, your estate plan can be designed to help guarantee security for you and for those important to you, and to ensure your commitments will continue to be honored when you are no longer able to meet these commitments personally.

A trust can be crafted to:

• assure that your assets are managed for your benefit
• protect your children
• support your loved ones, especially if they are disabled or elderly
• protect your spouse to preserve the lifestyle you have shared
• provide for your support in the event you are disabled

Ware & Goodman can assure that the administrative burdens on placed your family after your death are minimized by eliminating the need to deal with your estate in probate court.

What does it mean to probate an estate?
Probate is the process by which the court supervises the transfers of legal title of property from the estate of the person who has died (the "decedent") to his or her beneficiaries. If you own property in your own name and on your death you want to transfer the property to another person, your executor may need to file with the Probate Court. The probate of an estate is a complex process that requires publication of notice, filing of an application for appointment of the executor or administrator of the estate, payment of taxes and debts of the decedent, preparation of an inventory, and filing of accounts. Ware & Goodman incorporate methods to avoid probate into their estate plans. For example, when a trust owns property, the property passes to the beneficiaries without probate.


II. REAL ESTATE

What should we know about buying and selling a house?
The purchase of your home is likely to be your single greatest financial investment. You should have an attorney review the contract to buy or sell your house before you sign a binding contract.

Negotiating the Purchase and Sale Agreement
We generally can offer a lump-sum fee to represent you in the purchase or sale of your house, which includes review and negotiating the terms of the Purchase and Sale Agreement.

The Purchase and Sale agreement will address such important issues as:

• buyer's obligation to purchase the house even if it is totally destroyed;
• seller's obligation to vacate the house completely prior to passing papers;
• seller's right to sue buyer for damages if buyer defaults (which can be in addition to retaining the deposit); and
• the buyer's right to have various inspections done at the premises, including inspections of the structure, septic system, and for pests, lead paint, water, UFFI and radon.

After the Contract is Signed
Once you sign a contract to purchase, we will help you with issues that may arise during the inspection period and advise you on compliance with your mortgage contingency requirements. After the purchase and sale agreement has been signed and financing arranged for the buyer, we undertake a full examination of the title, covering at least 50 years. Title examination requires review of the deeds, mortgages, court decrees and all other documents affecting the title and applying the law and court decisions to the various circumstances arising in the title examination. It is the seller's obligation to correct any defects in the title.

Common Closing Costs
We compute the costs that need to be adjusted between the buyer and the seller, such as taxes, fuel, and rent. We prepare a closing statement showing the amount owed by buyer to seller. We prepare the deed for the seller and review the deed for the buyer. Both buyer and seller will likely be required to sign agreements to reimburse buyer's bank for losses in connection with smoke detectors, lead paint, and other substances. The Seller's expenses normally include:

• attorney's fees, including negotiations and preparation of documents, correction of title defects, removal of liens, etc.
• Massachusetts property transfer tax, also called "stamps"
• the cost of recording documents necessary to clear title
• real estate broker's commission

Buyer's expenses normally include:

• attorney's fee, including negotiations and preparation of documents
• cost of the title examination
• cost of preparing mortgage documents, including bank fees
• cost of recording the deed, mortgage, and municipal lien certificate

Title Insurance
Most banks require that the buyer purchase a lender's title insurance policy at the closing. The buyer also may choose to purchase an owners title insurance policy that will protect the buyer against claims relating to the buyer's title to the property. We can provide this insurance for you.


III. DO I NEED AN ATTORNEY TO OBTAIN MY WETLANDS OR ZONING PERMIT?

You do not have to be represented by an attorney if you are applying for a special permit or want permission from the Conservation Commission to perform work in a riverfront or wetlands area. However, you may want to be represented by an attorney who is experienced in such work if the development project is complicated and has many environmental impacts, such as traffic or wetlands impacts. You also may want to have counsel if the zoning issues in question are complex, such as those involving overlay districts or pre-existing nonconforming uses. You may want to have an attorney experienced in wetlands matters if you are concerned about the technical or procedural aspects of the permit process.


IV. WHAT SHOULD WE LOOK FOR WHEN CHOOSING AN ATTORNEY?

You should choose an attorney who demonstrates knowledge and experience in the field and who will keep you informed and answer your questions. We have provided you with examples of our experience and areas of practice on this website and would be happy to have a frank discussion with you about our expertise in your particular matter. We require most of our clients to sign a written fee agreement that provides you with detailed information about hourly rates and billing. We are comfortable keeping our clients involved in reviewing drafts and other important documents before sending them out. We take pride in giving personal attention to your needs. We will treat you with respect and consideration.