MA Wills & Trusts
  • ABOUT
  • SERVICES
  • FAQ
  • Testimonials
  • BLOG
  • Resources
    • Irrevocable Trust right for me?
    • Post-Death Administration
      • After death steps
        • WHAT IS PROBATE AND HOW TO AVOID IT
        • After a Death Steps
        • Breaking a Will in Massachusetts
    • How to change your will or trust
    • Estate Planning Services
    • Our Plain English Approach
    • Durable Power of Attorney
    • Beneficiary with a problem
    • Update existing will or trust
    • Estate Planning Guide
    • Living Trusts
    • Wills Explained
    • About Attorney Joel Bernstein
      • 3 steps
  • COURSE
  • ABOUT
  • SERVICES
  • FAQ
  • Testimonials
  • BLOG
  • Resources
    • Irrevocable Trust right for me?
    • Post-Death Administration
      • After death steps
        • WHAT IS PROBATE AND HOW TO AVOID IT
        • After a Death Steps
        • Breaking a Will in Massachusetts
    • How to change your will or trust
    • Estate Planning Services
    • Our Plain English Approach
    • Durable Power of Attorney
    • Beneficiary with a problem
    • Update existing will or trust
    • Estate Planning Guide
    • Living Trusts
    • Wills Explained
    • About Attorney Joel Bernstein
      • 3 steps
  • COURSE
Search
Picture
A nice day today, eh?

What about a Living Trust?

10/24/2020

1 Comment

 
To find out more about whether a Living Trust is right for you, read more here.

An alternative estate planning approach is to have a LT in place.

A Living Trust is a revocable, amendable document that can act like a will. But differently. The other type of trust used in estate planning is the irrevocable trust.

By the way, business uses trusts in different ways. Say, for example, mutual funds are often in trust form.

A Living Trust may be useful to achieve some estate planning goals.

A Living Trust can avoid probate. This is because at death the Living Trust owns the trust assets and not the individual.

A Living Trust can lower estate taxes for some people. It depends on how you use it. And your family and asset situation.

A typical situation: A Massachusetts married couple owns more than $1 million. Lawyers suggest using Living Trusts. Similar suggestion for unmarried living together with joint children.

For single people, you can use it in a different way. Apart from estate taxes, the goals of married unmarried and single are similar.
1 Comment
Zachary Tomlinson link
1/31/2021 09:20:42 pm

I find it amazing that having a living trust can help you handle your assets within your passing. I should share him with my friend, who's afraid about what will happen to his assets because of this pandemic. This way, he'd consider hiring a probate law expert for advice!

Reply



Leave a Reply.

    Categories

    All

    Archives

    December 2022
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020

    Author

    I'm Joel Bernstein, an estate planning attorney with over 30 years of experience. I use plain English to help you understand wills, trusts, and the other documents you need to protect your loved ones and your estate.

Massachusetts Wills & Trusts

33 Bedford Street, Suite 13, Lexington, MA 02420
(781) 863-8606  |  joel@jbernsteinlaw.com

Wills ∙ Trusts ∙ Power of Attorney ∙ Health Care Proxies
Locations We Serve



Most middle-aged people aren’t ready for their inevitable death. We make estate planning simple, affordable, and quick. So people can live in peace, knowing their affairs are in order.

EXISTING CLIENTS: Amendments/Discussions
  • ABOUT
  • SERVICES
  • FAQ
  • Testimonials
  • BLOG
  • Resources
    • Irrevocable Trust right for me?
    • Post-Death Administration
      • After death steps
        • WHAT IS PROBATE AND HOW TO AVOID IT
        • After a Death Steps
        • Breaking a Will in Massachusetts
    • How to change your will or trust
    • Estate Planning Services
    • Our Plain English Approach
    • Durable Power of Attorney
    • Beneficiary with a problem
    • Update existing will or trust
    • Estate Planning Guide
    • Living Trusts
    • Wills Explained
    • About Attorney Joel Bernstein
      • 3 steps
  • COURSE