Estate planning specialist; Attorney practicing in Massachusetts

Planning for Every Possibility

A trust is a legal arrangement that allows a person (the "settlor" or "grantor") to transfer assets to another person or institution (the "trustee") to hold and manage for the benefit of individuals or entities (the "beneficiaries"). Trusts come in various forms, but they all involve the division of legal and beneficial ownership of assets.

Establishing your Intentions

Creating a trust has many advantages. Trusts help manage assets responsibly and are useful for planning what happens to your things after you're gone. They also give you control over how your things are given to others. Trusts are private, so not everyone can see them, which is good if you want to keep your financial matters private. To set up a trust, you need to decide what you want to achieve, pick the right type of trust, choose someone to manage it, work with a lawyer to write down the rules, and move your things into the trust using legal paperwork.

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Trusts in Action

Once the trust is established, the trustee takes care of it based on your instructions, handling tasks like investments and distributing income. Regularly review the trust to make sure it still fits your current situation and goals, and update it if you acquire or sell important assets. Plan for the future by thinking about who should take over as trustee or beneficiary if the first choices can't do it. Setting up and managing a trust needs careful thought and legal knowledge. Talking to a skilled attorney in trust matters ensures your goals are met and the trust remains a helpful tool for your finances and estate plans.

Essential Building Blocks

It's difficult to think about what could happen to your loved-ones after your passing, but planning ahead allows you to live every day knowing that they're protected.

  • Asset Management and Protection

    Trusts provide a structured approach to managing and protecting assets, ensuring responsible use over time.

  • Estate Planning

    Trusts are powerful tools for estate planning, allowing for the seamless transfer of assets to beneficiaries, potentially minimizing estate taxes, and avoiding probate.

  • Control Over Distribution

    Trusts offer the settlor control over how and when assets are distributed to beneficiaries, enabling specific conditions or gradual allocation.

  • Privacy

    Unlike wills, trusts are private documents, keeping details confidential and not part of the public record.

Let's Talk

Remember that each person's situation is unique, so seeking personalized advice from a legal professional is essential when considering the establishment and management of a trust. We can help ensure that your plan is established and seemless.

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