Menu ${site.data.firmName}${SEMFirmNameAlt}${site.data.firmName}${SEMFirmNameAlt}
Practice Areas
Let's Get Started!

How inter vivos trusts work

An inter vivos trust is the formal term for what is commonly known as a living trust. A living trust means that you are able to place your assets in this trust, modify the contents of the trust, and if desired, revoke the trust during your lifetime.

In this way, living trusts are a very flexible and strategic way to manage your assets. Living trusts are advantageous to wills in the sense that they make it possible for a person's assets to avoid probate. Probate can be a costly and lengthy process; therefore, being able to avoid probate preserves assets for their intended beneficiaries.

What are the requirements for setting up an inter vivos trust?

In order to set up a living trust, you should first create a document stating your intention to create a trust, and name the people who you want to benefit from the trust. You should then create another document that states the property that you want to begin the creation of the trust with. If you opt to create a revocable trust as most people do, you will be able to add and subtract assets from the trust as you wish.

What happens if a beneficiary of my trust dies before me?

If a beneficiary of your trust dies first, the assets within the trust will automatically revert back to being in your ownership without you needing to take any further action.

If you are considering creating a living trust, it is a good idea to have an attorney provide information on other estate planning solutions, too.

Source: American Bar, "Living Trusts," accessed June 01, 2018

No Comments

Leave a comment
Comment Information

Serving businesses and individuals throughout Massachusetts

Waltham Office
375 Totten Pond Road
Suite 200
Waltham, MA 02451

Toll Free: 888-759-5109
Waltham Law Office Map

Braintree Office
25 Braintree Hill Office Park
Suite 406
Braintree, MA 02184

Toll Free: 888-759-5109
Phone: 617-523-1555
Braintree Law Office Map

Cranston Office
200 Midway Road
Suite 159
Cranston, RI 02920

Toll Free: 888-759-5109
Cranston Law Office Map

Hyannis Office
1330 Phinney’s Lane
Hyannis, MA 02601

Toll Free: 888-759-5109
Hyannis Law Office Map

Norwood Office
520 Providence Highway
Suite 10
Norwood, MA 02062

Toll Free: 888-759-5109
Norwood Law Office Map

Westborough Office
276 Turnpike Road
Suite 228
Westborough, MA 01581

Westborough Law Office Map

Woburn Office
444 Washington Street
Suite 203
Woburn, MA 01801

Woburn Law Office Map