Setting up a Medicaid trust under Massachusetts law takes careful planning, but the effort can be worth it. This kind of trust holds some of your assets so you may reduce the size of your estate and someday qualify for Medicaid. However, not all trusts qualify as...
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Toll Free : 866-591-4451
Trusts
Should you have a living trust?
Structuring your finances with estate planning can feel overwhelming for many reasons. However, developing a strategy that carries out your financial wishes and streamlines the process for your family is vital. Creating a living trust can help you prepare your estate...
Facts to know about special needs trusts
As the parent of a child with special needs, it is important to make sure that your child has the resources to meet their long-term needs. A special needs trust provides a source of funds for your child to meet financial obligations, making it an important part of...
Pet trusts: what are they, and should you consider having one?
In 2011, Massachusetts changed its probate code. Among many of the changes made, the state began allowing people to create a trust for their pet(s). It can, in fact, also be done for farm animals, such as goats and horses. How to set up a pet trust Pet owners who wish...
Creating a trust for a child with an uncertain disability
Some children cannot earn a living as adults due to a disability. However, you might not know for sure if your child will be incapable of holding down a job and living alone. Some people retain their independence in spite of a disabling condition. Many parents of...
3 things a trust does that a will does not
A will is a key part of any Massachusetts estate plan, but a will’s power only extends so far. If you have specific state planning goals a will does not help facilitate, you may be able to accomplish them by establishing one or more types of trusts. Kiplinger notes...
What is the difference between a will and a trust?
Wills and trusts are two valid estate planning tools you can use to distribute your assets after you pass, but they function differently in how they accomplish your goals. Both legally binding documents give you the final say in where your assets go upon your death....
How do I create an educational trust?
As a caring parent or grandparent, you want to leave assets behind for your loved ones. Some of these heirs may include those who are in their twenties or even younger. Young people are not always wise at handling money. You want to make sure they do not waste what...
Which assets may I transfer to a living trust?
Massachusetts residents may create a revocable or “living” trust and use it to protect their assets. As your property or income changes, a living trust allows you to transfer assets to it until your death. After death, your trust becomes irrevocable, and your assets...
How do I create a pet trust?
If it is possible your pet could outlive you, then you should make a plan for it. Many animals end up in shelters each year because their owners died and did not plan ahead. The General Court of the Commonwealth of Massachusetts explains the state does allow you to...