Benefits of a Living Trust
Living trusts are beneficial for a number of reasons. If you have a significant amount of assets or assets in other states, a living trust can make it easier to transfer those assets and funds. When assets are in other states and not part of a trust, upon death it can take a significant amount of time to have those assets transferred. The taxes may be great also. A living trust decreases the estate tax liability in Massachusetts when it comes time to transfer those assets to beneficiaries. After death, the assets in a trust are immediately transferred in a private manner, without probate and without it becoming part of public record. A living trust is also more difficult to contest, unlike a will that can be tied up in court for years if someone decides to contest the distribution of assets.
Living trusts can be a flexible and personal way to ensure your beneficiaries are taken care of as you wish. At Shapiro Law Group, PC, we know the peace of mind comprehensive estate planning can bring. We dedicate ourselves to taking a compassionate and creative approach to your estate planning needs as we help you with the process. Our firm will outline the benefits of a living trust and help you decide if it may work best for your needs and give you the greatest opportunity to protect your assets and your beneficiaries.
The attorneys at Shapiro Law Group, PC, are ready to help you. Contact us today to set up your free initial consultation. 339-200-9933.