Personally Tailored Trusts

Every family’s circumstances and assets are unique. The estate planning lawyers of Cushing & Dolan, P.C., provide customized solutions for your needs and goals, including the strategic use of various types of trusts.

We can help establish the trust or trusts most appropriate to your objectives, including tax minimization, probate avoidance, creditor protection, Medicaid eligibility and business succession. We offer comprehensive estate planning to clients of every stratum in the Boston area and throughout Massachusetts, New Hampshire, and beyond. Arrange a consultation today.

Basics Of Trust Terminology

Revocable trusts — Virtually all our clients have some form of revocable trust, or “living trust,” which allows you to add or subtract assets as circumstances change over the years. We work with our clients to fund the revocable trust while they are still living, and we also ensure that any remaining assets they own in their name will “pour over” into the trust upon death. The trust serves the same purpose as a will regarding distribution of assets to your designated beneficiaries, without the time delays, expense and publicity of probate proceedings.

Irrevocable trusts — Clients with larger estates may desire to transfer some assets into an irrevocable trust. With the irrevocable trust, assets are set aside for specific beneficiaries and are not accessible to you once contributed. An irrevocable trust offers the opportunity to take advantage of lifetime gifting while further reducing the size of your taxable estate and provide creditor protection for beneficiaries.

Our estate planning lawyers are knowledgeable about options for eliminating and reducing state and federal estate taxes. They can explain all the types and applications of a trust, including:

• Irrevocable life insurance trusts
• Homestead Declaration
• New Hampshire asset protection trusts or Delaware trusts
• Intentionally defective irrevocable grantor trusts
• Realty trusts (nominee trust)
• Special needs trusts
• Charitable trusts
• GRAT vs. sale to intentionally defective grantor trust
• Qualified personal residence trust vs. home security trust

Gift Tax Exemption

One essential factor to consider is the $5 million gift tax exemption instituted through 2013. This unprecedented opportunity could have widespread implications on your overall estate planning goals.

Free Consultations With Experienced Attorneys

From our eight Massachusetts office locations (Boston, Waltham, Westborough, Norwood and Woburn), we serve individuals, families and businesses throughout Massachusetts, New Hampshire, Florida, Pennsylvania, Arizona, and New York. Call 888-759-5109 or contact us online for a free consultation with a lawyer from Cushing & Dolan, P.C.