Protecting Inheritances for Clients in Metro West Boston
If you want to prevent courts from making important decisions about your estate after you pass away, then you need to have the correct legal documents that will ensure your final wishes are faithfully executed. Clients in Metro West Boston often come to our legal professionals to establish different trusts that they can hold their assets and properties in to avoid probate and federal estate taxes. Our legal team at Marsden Law P.C. has more than a decade of trust and will preparation experience. We are here to take a look at your estate plan and explain how our trust services can help you protect your wealth and ensure your loved ones obtain the assets you leave behind.
What Is a Trust?
A trust is a fiduciary relationship that you create with another party who holds your assets. This person eventually distributes the assets to the people designated under the terms of the trust. If you properly structure the trusts you add to your estate plan, your loved ones will be financially covered and set up to manage your wealth when you are no longer around.
What Is the Best Type of Trust for My Estate Plan?
Our clients are usually familiar with wills, but often don’t know as much about using trusts to distribute and protect wealth. We prepare a wide range of trusts for clients in Metro West Boston, including:
- Revocable Trust: This type of trust allows you to manage and change what you put in it during your lifetime. This type of trust is taxed while you are alive and becomes irrevocable after you pass away and when the terms of the trust have been administered by the trustee.
- Irrevocable Trust: This type of trust can’t be changed after it is established, but it does offer tax benefits that clients like to take advantage of. We can guide you through the process of creating an irrevocable trust and determine if it is the correct one for your tax situation.
- Life Insurance Trust: This type of trust ensures your family can receive your life insurance benefits without having to pay expensive estate taxes. This trust also allows you to decide how your beneficiaries can spend your life insurance funds after you die.
Ask About Our Trusts & Estate Planning Services in Metro West Boston
At Marsden Law P.C., we understand how important your legacy is, that is why we are here to use our years of experience and extensive legal resources to make sure you are able to leave all of your assets behind for your loved ones. If you have concerns about how your family will get by when you are no longer around, then get in touch with our law firm today so we can discuss all of your estate planning options.
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No matter the size of your estate, it is important to take the time to assess your situation and draft a comprehensive estate plan that includes a last will and testament, strategies to minimize taxes, a durable power of attorney, and guardianship for any minor children. Marsden Law P.C. will develop a custom estate plan that covers your unique needs and ensures you and your loved ones are prepared for major life events and emergencies.