Benefits of a Trust
Whenever you decide to begin estate planning, you may want to consider the benefits of creating a trust for those you leave behind. A trust is a way to leave behind a certain amount of money and also ensure you have a say in how and when that money is used by someone. Trusts are ideal for those with minor children or who have adults with special needs or disabilities in their care. Without a trust in place to effectively dictate how money left behind is handled, it could be used in a way you may not have ever wanted or anticipated.
What Type of Trust Do I Need?
Attorney Todd D. Beauregard is a trust lawyer in North Andover MA and can help design a trust that is detailed and specific for your needs and wishes. Some trusts are designed to release a certain amount of money periodically instead of all at once. Others can require specific ages before accessibility and specific uses, such as funds for college. A trust can ensure a family member is cared for over a long period of time without acquiring a large sum of money at once. This would be advisable for those who receive some state benefits or social services and medical care. The creation of a trust with the help our team of legal experts can also allow you to express your wishes confidentially and simultaneously ensure they are adhered to.
Aside from the freedom it gives you as far as having a say in how funds are spent and when, we can help you create a trust that will help minimize tax penalties. Gift taxes, estate taxes and the cost of probate can greatly reduce the amount of money any heir or heirs are able to keep. However, when you designate funds through a trust, the money can be exempt from those costly obligations.
Hire an Experienced Trust Lawyer
The many benefits of creating a trust rather than simply leaving a certain amount of funds through a will can be further explored and explained by attorney Todd Beauregard, the trusted North Andover Massachusetts estate planning trust attorney. He will take the time needed to fully explore your options and create a trust agreement that meets your individual needs.
Reviewer: Mark L.
“When looking into a trust for our estate, we called attorney Beauregard and he and his team walked us through the whole process and were very clear and concise in explain the process and what type of trust was suited for us.”