Legal Question in Real Estate Law in Massachusetts

Re: incase of death?

A will is generally a good idea. It gives you control over how your assets are distributed in case of death, and can be set up in a way that gives your loved ones flexibility in making sure that someone who could benefit from your estate receives an interest.

If you are an individual homeowner, and you pass away without a will and without children, your property will pass according to intestate succession (which varies somewhat from state to state). In Massachusetts, it will pass first to your parents equally, if living, otherwise to your surviving siblings or their issue, and then to relatives of equal degree. If your parents don't have assets and need long term nursing care, it is likely that anything you leave them would be spent on long term care until they qualified for Medicaid. (This is not necessarily a bad thing, but you might want to discuss this with them.)

There are various ways that a will can facilitate administration of your estate, including by giving powers to your executor or executrix to sell the condo without having to seek court approval (which creates certain avoidable costs).

In short, you should consider speaking with an attorney about drafting a simple will and related documents (health care proxy and power of attorney, if appropriate).

Re: incase of death?

Congratulations on purchasing your first home!

In Massachusetts, a deceased person's personal and real property will pass either: (1) to a joint owner; (2) under the laws of intestacy to your nearest relatives; (3) to whomever you designate in your will, if any.

A will or estate plan can be fairly inexpensive in comparison to the peace-of-mind of knowing that your investments (like your house) and your loved ones are taken care of if you were to pass on.

You should contact an attorney to discuss your options and planning goals. I am happy to answer any specific questions you might have, and you can find more information at my website.

Re: incase of death?

Your property will go to a joint property owner, if there is one, to your nearest realtives if you die without a Will by intestate succession or to your designated beneficiaries under your Will.

A Will is a realitively inexpensive item and it would be in your interest to have one. You should also have a durable power of attorney and a medical proxy in case you are severely injured.

Please feel free to contact me without obligation.