One thing a person may wonder when it comes to estate planning is: Are there any limitations on who can form a will? According to Massachusetts law, there are only two such limitations.
One is that individuals under the age of 18 cannot form a will. Thus, you must be an adult to make this type of estate planning document.
The other limitation is that a person cannot make a will if they are not "of sound mind."
Thus, in general, state law makes it so most adults in Massachusetts are legally able to form a will. However, despite this, many adults do not have a will and have not really done much in the way of estate plan formation.
Hearing this, many may wonder why this is? Why wouldn't all adults form wills and estate plans? One thing that might be behind this are the incorrect assumptions some people have regarding estate planning.
One such assumption is that wills and estate plans are only important for older individuals or those with terminal illnesses. However, this is simply not true, as wills and estate plans can have value for all adults, regardless of their age. Tragedy can strike at any age and when a person least expects it, so it never hurts to be prepared with a well-designed estate plan.
Another incorrect assumption is that wills and estate planning are only really necessary if you have lots of assets. However, only having modest assets does not mean a person does not have strong feelings about what should happen with their assets after their death. Having a will and an estate plan in place allows someone to have control over this distribution.
Additionally, wills and estate planning can give a person control over more than just asset distribution. For example, a will can name who will be in charge of a person's children upon their death.
Ultimately, estate planning can give a person control over what will happen when he or she is gone. This can be a very valuable thing for an adult, regardless of their stage of life or economic status. Attorneys can provide estate planning help to individuals who are interested in creating estate plans.