If taking care of your family after you die is a priority, you may be wondering if a living trust or a will is better in Massachusetts. Choosing the right estate planning tool typically depends on your particular concerns, and what you want to accomplish.An...
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Trusts
Putting real estate into a trust: Is it worth it?
A living trust is an estate planning document that many Wakefield residents use to place their assets into a trust for their own benefit while they are still alive. Upon a trustee's death, or should a trustee become disabled, the assets within the trust transfer...
Preserve an inheritance through a generation skipping trust
The federal government has set up estate tax laws that deplete an inheritance every time it is passed from one generation to the next. Caring.com explains that people in Massachusetts who want to avoid this double and triple taxation on their wealth may be able to...
What do you need to know about personal representatives?
Whether you have a will or not, when you die, someone has to take over the duties related to legally closing your Massachusetts estate (unless all your assets are jointly owned or distributed to beneficiaries named in, for example, life insurance policies, retirement...
When a trustee should be replaced
Trustees shoulder a lot of responsibility, and when people set up irrevocable trusts as part of their Massachusetts estate plan, they generally put a lot of thought into whether to choose a person, a professional or an institution. After the designation is made,...
Going over some benefits of charitable trusts
When it comes to trusts, a number of options may be on the table. From special needs trusts to revocable trusts, it is important to carefully analyze your options and move forward with an estate plan that best suits your needs. For some people, a charitable trust is a...
Reviewing some advantages of special needs trusts
There are many options when it comes to trusts, from revocable to irrevocable trusts and spendthrift trusts. However, it is crucial to pinpoint which type of trust will best suit your individual circumstances and the unique needs of your loved one, especially if they...
Divorce and irrevocable trusts
When it comes to trusts, there are all sorts of relevant issues to take into consideration, such as how the end of marriage could affect the distribution of an estate following someone’s death. Whether you have a revocable or an irrevocable trust, it is...
Creating a living trust
If you are approaching the idea of an estate plan for the first time, you may have various questions and be unsure of which plan is best for you. Some people decide to move forward with a will, while others opt for a trust. Moreover, there are different kinds of...
Taking a look at express trusts
With trusts, there are many different types of terms that you may need to familiarize yourself with. For example, you may want to find out more about the differences between revocable and irrevocable trusts or go over some of your different options. However, it may...