Trusts

Setting up a trust is a crucial step in estate planning, providing you with control over your assets no matter what life throws your way. If you have taken the time to set up a trust, you have already made a significant investment in your future and your family’s...

A Qualified Personal Residence Trust (QPRT) is a specialized estate planning tool designed to minimize estate taxes on a personal residence. It allows homeowners to transfer ownership of their home to a trust while retaining the right to live in it for a set number of...

Trusts are powerful tools for managing and protecting assets, but they come with drawbacks that you should consider. Understanding their potential disadvantages is important for making informed decisions about your estate planning. Complexity and cost One disadvantage...

Having a complete estate plan often requires more than just writing a simple will. Creating a living trust can go a long way toward providing peace of mind for yourself and your family. However, there are several types of trusts, and your own personal circumstances...

Special needs trusts help families provide long-term care for loved ones with disabilities. These trusts ensure beneficiaries get the support they need without losing government benefits. In Massachusetts, special needs trusts are important for securing a better...

A spendthrift trust can protect assets and ensure financial stability for beneficiaries who may not be financially responsible or are vulnerable to creditors. There are several reasons why this may make sense.  Protecting beneficiaries with poor financial management...

Realizing your children, grandchildren and other heirs can receive your wealth after you die may give you satisfaction in building up your assets. Your life insurance policy could be one way you want to deliver a payout to your family. However, you might have concerns...

Charitable trusts provide tax advantages that benefit both donors and beneficiaries. These benefits serve as strong incentives for people and families looking to include charitable giving in their financial planning. Understanding these advantages can help maximize...

For Massachusetts residents looking to preserve wealth and provide for future generations, dynasty and generation-skipping trusts offer valuable benefits. Understanding the advantages of dynasty and generation-skipping trusts is helpful for estate planning. It can...

The concept of conditional gifts in trusts plays a big role. Understanding the dynamics of these gifts can empower individuals to craft a legacy that aligns with their intentions. Conditional gifts in trusts represent a strategic approach to wealth distribution. They...