Re: trust law

In Massachusetts, a basic estate plan consists of a will, a power of attorney and a health care proxy. These documents appoint persons who manage financial and medical decisions in the event of incapacity during life, and the decedent's finances afterwards. Revocable trusts do not allow you to avoid probate unless the grantor (the person creating the trust) transfers assets into its ownership during lifetime.

There are certainly good reasons for doing a revocable trust, but we don't use them much in Massachusetts unless there is a taxable estate, assets outside of Massachusetts, or minor children who may inherit assets. Unlike some states where revocable trusts are routinely used (like California), the cost of probating a will are based on the services actually provided, not a percentage of the estate.

I'd be pleased to speak with you further on this topic. Please feel free to contact me at [email protected]

Re: trust law

In Massachusetts, a basic estate plan consists of a will, a power of attorney and a health care proxy. These documents appoint persons who manage financial and medical decisions in the event of incapacity during life, and the decedent's finances afterwards. Revocable trusts do not allow you to avoid probate unless the grantor (the person creating the trust) transfers assets into its ownership during lifetime.

There are certainly good reasons for doing a revocable trust, but we don't use them much in Massachusetts unless there is a taxable estate, assets outside of Massachusetts, or minor children who may inherit assets. Unlike some states where revocable trusts are routinely used (like California), the cost of probating a will are based on the services actually provided, not a percentage of the estate.

I'd be pleased to speak with you further on this topic. Please feel free to contact me at [email protected]