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Trusts Archives

Have you created a trust for your pet?

Many Massachusetts residents would agree -- some in jest and some quite seriously -- that their pets are more important members of their family than their children. For this reason, a lot of estate planners ask their attorneys how they can make a plan to ensure their pets are well-taken care of when they're gone.

How can my heirs benefit from a spendthrift trust?

Imagine you want to leave $200,000 to your only surviving relative. The problem is, this individual is only 18 years of age, and has not exhibited an ounce of financial responsibility in his entire short life. You may definitely be concerned about leaving such a large amount of cash to your heir. Not only is there the chance that your beneficiary will quickly spend the money irresponsibly, but -- if your relative has a substance abuse issue -- the money could be extremely dangerous to his health.

What is a life insurance trust?

It is becoming increasingly common for people in the state of Massachusetts to purchase life insurance since they offer a way to give families peace of mind. They may choose such packages so that they are confident that they can give their children the support they need no matter the circumstances.

How court-ordered constructive trusts can be beneficial

Trusts are quite often thought of in general terms; however, there are many different types of trusts available and they differ greatly depending on the type. Therefore, it is important to understand more about all of the options and benefits so that you are able to compare how constructive trusts differ to the norm.

The cost of creating a revocable trust in Massachusetts

When one makes a will, it must go through the process of probate, and therefore, the assets will take a long time to reach the beneficiaries. In addition, there will be costs deducted from the person's estate for the administration of the probate process. This is why keeping all assets in a will can be costly and why many people consider the benefits of opening a trust.

What are the benefits of an irrevocable trust?

When considering starting a trust in the state of Massachusetts, it is important that you make sure to research all of the different options and weigh the pros and cons of each. The best choice for you will depend on what exactly you want to achieve and your current as well as predicted financial situation.

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.

How are constructive trusts different from other trusts?

When planning your estate, it is likely that you have considered creating a trust to hold your assets in your lifetime and beyond. All of the different types of trusts can be very confusing, especially to a person who is just starting to plan his or her estate. Therefore, it is important that a person planning his or her estate takes the time to learn about the different types of trusts that are available, and what benefits they can provide.

The difference between testamentary trusts and living trusts

Trusts should be an important part of planning anyone's estate. There are many benefits in using trusts as part of your estate plan. For example, trusts can make it possible for you to avoid the probate process, which can be both lengthy and expensive for your beneficiaries.

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