Wills, Trusts, and Taxes: What Every Braintree, MA Resident Should Know

A Braintree Family’s Wake-Up Call

When Paul, a lifelong Braintree resident, passed away unexpectedly, his family thought they were prepared. He had a will, an IRA, and a small home he had worked hard to pay off. But when the estate process began, they were shocked to learn that his IRA would be subject to Massachusetts estate taxes — and that his will needed additional steps to be fully recognized. Suddenly, what they thought was simple became a stressful, expensive legal journey.
More people have this type of encounter than you may realize, and doing so underscores why knowing about wills, trusts, and estate taxes is so important — particularly in Braintree, MA.

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Are IRAs Subject to Massachusetts Estate Tax?

Yes — and more often than not, to people’s surprise. In Massachusetts, an IRA counts as part of the taxable estate when you die. So if the combined value of the estate and IRA happens to exceed the state’s level of estate tax ($2 million in some cases these days), executors might have to pay tax before they hand out the money to heirs.

Why it matters in Braintree: Many Braintree residents have retirement accounts that have grown significantly over the years. Without planning, these accounts can push an estate over the threshold, leaving families with an unexpected tax bill.

Solution: Strategic estate planning — including the use of some types of trusts — may enable minimization or even elimination of estate tax liability on retirement accounts.

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Does a Will Need to Be Notarized in Massachusetts?

Technically, no — Massachusetts does not need to have a will notarized to be deemed valid. But having a will notarized could simplify the probate proceedings. Inclusion of a notarized “self-proving affidavit” in your will could prevent witnesses from having to testify in court about the authenticity of the document.

In plain English: Notarizing your will won’t make it legal (signing it correctly will), but it can make your loved ones’ lives much easier when the time comes.

Advisement to the people of Braintree: Regional estate planning attorneys give among their services notarization, thus ensuring legal formality and convenience to your loved ones.

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Role of Trusts in Estate Planning

Trusts are underrated. Too many people only picture them in relation to the wealthy, but in truth, trusts are a remarkably valuable asset-planning tool even among common families in Braintree.

Benefits of a trust include:
• Saving time and money by avoiding probate
• Lowering estate tax
• Protecting assets for children or grandchildren
• Preserving privacy (wills go into public record; trusts don’t)

Example: You have a house in Braintree valued at $650,000 and have $1.5 million in savings and retirement accounts. Without planning, your estate may go over the Massachusetts estate tax threshold. With the proper type of trust, however, you may be able to avoid taxation of a huge chunk of it so more goes to the family and less to the state.

Why Local Knowledge Matters

State estate planning statutes differ from state to state — and Massachusetts has some of its own twists and turns. When you consult with a Braintree attorney, you’re getting counsel specific to state regulations, regional tax concerns, and even county probate practice.

While online templates might seem tempting, they rarely account for:
• Massachusetts-state estate tax laws
• The effects of neighborhood property values
• Family-specific goals and dynamics

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Steps Braintree Residents Can Take Today

If you live in Braintree and want to make sure your estate is protected:

1. Assess your IRA and retirement accounts to determine tax exposure potential.
2. Revise your will and even have it notarized to make probate easier.
3. Assess trusts to avoid probate and reduce tax liabilities.
4. Speak with a qualified estate planning attorney who knows state law and the community of Braintree.

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The Bottom Line

Estate planning isn’t about paperwork — it’s about peace of mind. You might be concerned about estate tax on your IRA, wanting to have an appropriately written and legally binding will, or considering if a trust would be of some advantage to your loved ones, but the point remains to plan now.

Individuals who live in Braintree have distinct needs due to Massachusetts tax statutes and the nature of property in town. Proper planning will secure assets, minimize tax liability, and avoid stress on loved ones.

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Call to Action (CTA)

At McGinn Law, we help Braintree, MA families create smart, tailored estate plans. Whether starting from scratch or updating older documents, we are here to walk you through each step of the way.
📞 Call us now at (617) 229-9974 or www.mcginnlawpc.com and protect what truly matters — the future of your loved ones.