Trusts are legal documents created to accomplish certain family, tax, and other financial objectives. Trusts tailor-made to meet a person’s goals are part of a comprehensive estate plan in many, but not all, cases. Whether or not a Trust is an appropriate part of your estate plan depends upon your unique family and financial situation.
Some of the reasons to use a trust include:
- Probate avoidance
- Reduction of estate taxes
- Safeguarding and management of assets for minors or young beneficiaries
- Protecting governmental benefits for persons with disabilities
- Management of assets in the event the trust maker suffers a period of incapacity
- Protecting assets from liabilities and claims of creditors
- Protecting assets from having to be spent down on long-term care costs
To learn more about Revocable Living Trusts, click here to read Attorney Maria C. Baler’s article, Five Reasons to Create a Revocable Living Trust as Part of your Estate Plan.
To learn more about the duties of a Trustee, click here to read Attorney Suzanne R. Sayward’s article, Five Facts you Should Know about Serving as a Trustee.
Click here to learn more about Irrevocable Trusts.
Click here to learn more about Special Needs Trusts.
To schedule an appointment with one of our attorneys experienced in the preparation of Wills and Trusts, to discuss the advisability of creating a Trust as part of your estate plan, contact Samuel, Sayward & Baler LLC by phone at 781/461-1020 or by email using our Contact form.