Planning And Drafting Basics Under The New Massachusetts Uniform Probate Code

Author : Kent D. Schenkel
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Download or read book Planning and Drafting Basics Under the New Massachusetts Uniform Probate Code written by Kent D. Schenkel and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: On January 15, 2009, Massachusetts enacted the Massachusetts Uniform Probate Code (“MUPC”). While a few provisions of the new law became effective July 1, 2009, most were initially deferred until July 1, 2011. These provisions were subsequently deferred until January 2, 2012, and then deferred again until March 31, 2012. This paper was published before the March 31 deferral. The new law brings major changes to Massachusetts estate planning and estate administration. This article highlights and explains some of the changes wrought by MUPC that are likely to affect typical will and trust drafting and the estate planning practice in general. It includes an exploration of many of those aspects of the law that concern the ever-growing area of will substitutes, such as beneficiary designations and joint bank and brokerage accounts. Except in cases where it might have a particular effect on the planning process, this article does not attempt to cover the significant changes MUPC makes to probate and other administration of estates.