Worcester Business Journal

48 Worcester Business Journal | November 17, 2025 | wbjournal.com SENIOR RESOURCE GUIDE BY LAURA FINALDI Special to WBJ A s people move through their lives, making sure children are fed and work is taken care of, planning a trust, an estate, or a will might seem unimportant. But one way or another, people's lives come into contact with these over- whelming but crucial legal contracts, and experts say it's always better to be prepared. "A lot of times I find with my clients, they're dealing with their own parents. ey say, 'I had no idea. I should start planning. I need a healthcare proxy, power of attorney, or a HIPPA release. I need to have a will, to have a trust," said Anne Grenier, officer and attorney at Worcester law firm Fletcher Tilton. "When you hit that middle age point, caregiv- ing duties are slowing down, and people start thinking, 'Hey what happens to my money? How should this go? Where do I want it to go?'" Setting up a trust, estate, or will to protect assets can prevent lengthy court battles or family strife aer a loved one's passing. Most people don't think about it until they come into contact with a situation firsthand, or they don't want to think about it because it's too emotional. But this type of planning can just be for peace of mind. "If you come into my office and sign an estate plan document, hopefully you won't need it for a long time," said Elizabeth Newton, a partner at Worces- ter law firm Mirick. "e analogy I use is, it's like an umbrella. If you have one, it won't rain." What are trusts, wills, and estates? An estate is a compilation of some- one's assets, like money or a home, and wills are used to decide what happens to someone's estate when they die, Grenier said. A trust can be a beneficiary of someone's will, or an entirely separate entity for asset storage. "If your assets are in a trust and you pass, trustees would figure out how to distribute funds upon your passing," Grenier said. "Or a trust could say 'Upon my death, just distribute it.' In that circumstance, you don't have to go to the probate court." To sign estate planning documents, a person has to be at least 18 years old, Newton said. In the past few years, Newton said more and more parents are bringing their college-aged children in to sign documents making a parent their healthcare proxy, or the person who makes healthcare decisions for a person if they're unable to do it them- selves. People start building wills and trusts when they become parents, because they need to name a guardian for their children in case something happens to them. As their kids age, people might come back to their wills and update them because by then they've usually accumulated assets, Newton said. e last big trigger in life comes when people are around 70 years old. By then, they're concerned about preserving and Trusts, wills, and estates ADOBE STOCK / NEW AFRICA Anne Grenier, officer at Fletcher Tilton Here's how to plan your legacy

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