Icon Law Blog

An Overview of Trusts for Massachusetts Residents

In planning for the disposition of one's estate after death, there are many issues to consider. Some individuals may have significant levels of wealth, resulting in an interest in protecting heirs from excessive tax consequences. Others may be concerned about the potential increase in value of a specific asset. Others may want to ensure that complicated family situations do not interfere with their wishes for certain heirs to benefit. In any of these cases, special types of trusts may be beneficial. In fact, there are several types of trusts to consider in estate planning.

The Probate Process in Massachusetts

While people may have heard of probating a will, they may not be certain exactly what the process involves. The probate process follows a specific procedure, allowing the administration of the estate and distribution of the assets to the designated beneficiaries.

The Advantages of a Living Will or Medical Directive

The use of a living will with a medical directive can help many Massachusetts residents in their estate planning. By giving another person a power of attorney, it enables the attorney-in-fact to carry out an individual's wishes in the event that he or she becomes unable to do so.

Awards & Recognition