FAQs

A complete estate plan often includes:

• A Last Will and Testament

• Durable Power of Attorney

• Health Care Proxy

• HIPAA Release

• Revocable Trust or Trusts (optional but recommended for probate avoidance and estate tax planning)

Yes, a trust can help avoid probate, manage assets for minors, provide certain estate tax benefits for taxable or potentially taxable estates, and provide privacy. A will alone does not avoid probate.

Your estate will be distributed under the Massachusetts intestacy statute, which may not reflect your wishes.

Review your estate plan every 3–5 years or after major life changes like marriage, divorce, or significant asset changes.

As of 2024, estates over $2 million may be subject to a Massachusetts estate tax.

It’s a strategy to legally protect personal and business assets from lawsuits, creditors, and long-term care costs.

Q: What assets are protected from creditors in Massachusetts?

Massachusetts law provides exemptions that shield certain property from creditors. 

Examples include:

• Retirement Accounts – 401(k)s, IRAs, and similar qualified retirement accounts are generally protected.
• Life Insurance – Cash value in life insurance policies payable to a spouse or dependent may be exempt if qualified beneficiaries are unchanged since inception of coverage.
• Homestead Protection – Up to $1,000,000 of equity in your primary residence is protected if you file a Declaration of Homestead at the Registry of Deeds. (Additional protection available if you are elderly)
• Certain Trusts – Properly structured irrevocable trusts can provide strong protection for assets placed in them.

Q: Are 529 education savings plans protected?

While Massachusetts law does not provide specific protections  for 529 plans against creditors, and they are often treated favorably in bankruptcy, though certain timing considerations and contribution limits apply.

It depends.  Irrevocable trusts can be structured to protect your assets from future creditors and Medicaid recovery. Revocable trusts generally do not protect assets.

Using a Medicaid-compliant irrevocable trust can protect your home if assets are transferred at least five years before applying for Medicaid.

Start early—before claims of creditors or lawsuits arise. Late transfers can be undone by courts.

Yes. ERISA-qualified plans are protected. IRAs have significant protection under state law.

Pre-nups, post-nups, and trusts may help. Nothing is 100% guaranteed in divorce proceedings, but these tools provide a layer of protection.

It’s a repayment plan that allows you to reorganize and pay debts over 3 to 5 years while protecting your property.

You must have regular income and your debts must fall under set limits.

Yes. It allows you to catch up on mortgage arrears and prevent foreclosure.

It’s based on your income, expenses, and the value of your nonexempt assets.

Usually, yes—unsecured debts can be discharged after you complete your repayment plan.

The court may dismiss your case, but you may be able to request a plan modification.

Also called "liquidation bankruptcy," it wipes out most unsecured debts in a few months, while protecting exempt assets.

If your income is below the Massachusetts median (based on household size), you likely qualify.

Not if your equity is within Massachusetts exemption limits and you’re current on payments.

Most cases take about 4 to 6 months from filing to discharge.

Child support, alimony, most taxes, and student loans (except in rare hardship cases).

No. While it stays on your report for up to 10 years, many clients start rebuilding credit within months.

Q: Do I need a real estate attorney to buy a house in Massachusetts?

Probably a good idea given the nature and amount of your investment. If you are a Buyer in Massachusetts, the lender will have an attorney but that attorney will not be involved in the Purchase and Sale negotiation process and represents the lender’s interests, not yours. At Evans & Evans, P.C., we represent buyers throughout the entire process — from reviewing the Offer to Purchase, to negotiating the Purchase & Sale Agreement, to making sure you take title free of problems. Having an attorney ensures your rights are protected and that the transaction goes smoothly.

Q: What is the difference between the Offer to Purchase and the Purchase & Sale Agreement (P&S)?

The Offer to Puchase sets out the basic terms (price, deposit, timeline). The Contract to Purchase (which is formed when the Offer is accepted) is a binding agreement and dictates certain terms to follow in the Purchase and Sale Agreement to follow. The Purchase & Sale Agreement (P&S) is the detailed, legally binding contract that governs the transaction through closing. Both the Offer and P&S negotiation is one of the most critical stages of a transaction — and we make sure our clients’ interests are protected, whether buying or selling.

Q: Has Massachusetts changed the rules around home inspection contingencies?

Yes. Beginning October 15, 2025, new state regulations will significantly change how home inspection clauses are handled in residential real estate transactions.

Here’s what buyers and sellers should know:

• No conditioning on waiving inspection: Sellers or their agents cannot insist that a buyer waive, limit, or exclude a home inspection as a condition of making or accepting an offer.
• No accepting waiver-based offers: Even if a buyer offers to waive inspection, sellers cannot accept an offer on that basis.
• Mandatory disclosure to buyers: A written disclosure must be provided to the buyer and signed, confirming that the agreement is not contingent on waiving inspection, affirming the buyer’s right to inspect, and allowing a “reasonable” inspection period.
• No clauses that undermine inspection rights: Contracts cannot include provisions that make inspection rights meaningless, such as unreasonably short deadlines, restrictions on who may perform the inspection, or overly limited access to the property.
• Buyers may still waive after acceptance: Once an offer has been accepted, a buyer may independently decide to waive inspection, but only without any seller pressure or coercion.
• Exemptions: Certain transactions are exempt, such as transfers among close family members, foreclosures or auctions, some estate planning transfers, and some new construction contracts if entered into before substantial completion with warranties provided.

This new rule is designed to protect buyers from being pressured to give up the right to a meaningful inspection in competitive markets. Both buyers and sellers will need to adjust their expectations and contracts to comply with these requirements.

Q: What is title insurance and do I need it?

Title insurance protects against future claims or problems with ownership of your property. Lenders require it, and we recommend buyers also obtain an owner’s policy for added protection.

Q: Why should I hire an attorney if I am selling?

As the seller, you need legal representation to draft the Purchase & Sale Agreement, negotiate inspection and financing contingencies, clear title issues, prepare the deed and review settlement and closing figures and resolve any issues. We represent sellers to ensure you meet your obligations while protecting your proceeds from unexpected issues.

Q: When do I have to deliver the deed?

The deed is delivered and recorded at the Registry of Deeds at the closing — this is the official transfer of ownership.

Q: How much do I need for a down payment?

Many lenders prefer 20% down to avoid private mortgage insurance (PMI), but there are loan programs in Massachusetts that allow smaller down payments.

Q: What are closing costs in Massachusetts?

Closing costs typically include the real estate broker’s commission, lender fees, attorney’s fees, title insurance, recording fees, and (for sellers) the Massachusetts deed excise tax (currently $4.56 per $1,000.00 of valuation).

Q: What is a Declaration of Homestead?

A Massachusetts Homestead Declaration now protects up to $1,000,000 of equity in your primary residence from most creditors. Married couples, families, and individuals over 62 or disabled may be entitled to even greater protection. Filing a Declaration of Homestead at the Registry of Deeds is a simple but powerful way to safeguard your home.

Q: Should I put my property into a trust or LLC?

This depends on your goals. A revocable trust can simplify estate planning and probate, while an LLC may be helpful for investment or rental properties. We can advise which option is best for your situation.

Q: How long does it take to close on a home in Massachusetts?

The average timeline is 45–60 days from Offer to Purchase through closing, depending on financing, inspections, and title clearance.

Q: When do I get the keys?

Keys are released once the deed is recorded at the Registry of Deeds — usually the same day as closing.