12Law Arrow 12Law Arrow  Easy Questions  
12Law Arrow 12Law Arrow Instant Legal Documents
 
 
FINANCIAL & MARITAL

Cohabitation Agreement coming soon!
Separation Agreement coming soon!
No-Fault Divorce coming soon!
Bankruptcy coming soon!
 
 

FAQs on Living Trust in Wellesley, MA

FAQs on Living Trust in Wellesley, MA


Good plans shape good decisions. That's why good planning helps to make elusive dreams come true.
 
- Geoffrey Fisher


A Living Trust is also known as "inter vivos", Latin for "among the living". It is a trust arrangement you create while you are still alive.

What is a Living Trust?

A Living Trust is an arrangement where a trustee is assigned to hold legal title over the property of another person or beneficiary. You can be the trustee of your own living trust to ensure full control of all the properties indicated in the document.

There are different types of living trust that can help avoid legal processes of proving the validity of a will, reduce estate tax, and create a long-term property management.

Why Make a Living Trust?

A living trust can avoid an expensive legal process to prove the legality of a will. Properties that are left through the trust are protected from probate. The process usually takes months before the beneficiary gets anything. After the proceedings, some of the value of what has been left would have been already consumed by attorney's fees and other legal charges.

Does a Living Trust Prevent Probate?

Yes, the appointed trustee would handle the transfer the ownership of the property to the beneficiaries outlined in the trust, without needing to go through probate. This process only takes weeks and may completely avoid all lawyer and court fees. When all the trust assets have been completely transferred to the beneficiaries, the living trust simply ceases to exist.

Is it expensive to create a living trust?

No, creating a living trust at 12Law is fast easy and very affordable.

Is it difficult to hold property in a Living Trust?

No, holding property, and transferring property into and out of a trust are not particularly difficult to administer.

Is there a possibility that a living trust will be made public like a will?

No, unlike a will, a living trust does not need to be made public.

Will a living trust protect you from creditors?

No, creditors who win a lawsuit against you can go after your property even if it is placed in a trust. All your properties held in trust are subject to your lawful debts. This is true even after you pass away, but the confidentiality of a living trust may make it difficult for creditors to identify beneficiaries.

If I have a Living Trust, do I still need a will?

Yes, you need a will to cover any assets that have not been transferred into your living trust. Your will can stipulate the beneficiaries of your entire estate, whereas the living trust only addresses assets that were placed into the trust.

The distribution of your of your assets if you die without a will would depend on the law of the state in which you reside. Typically, it goes to the closest relatives. It is up to the state court to decide, so if you want a say in the distribution of your residual estate, it is important to make a will alongside your living trust.

Can a living trust reduce estate taxes?

A living trust has no effect on the state or federal tax, all the trust assets will be added to your personal estate. However, only estates that are worth more than $5.34 million in 2014 (indexed for inflation) will owe federal estate tax.

 
Personalize & Print a Free MA Living Trust Create This Document
Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
Page 11
Page 12
Page 13
Page 14
Page 15
Page 16
Related Legal Services near Wellesley, MA
Sanzone & Mc Carthy
888 Worcester St Suite 110
Wellesley, MA 02482
(781) 239-9989
Litigation & Tort Attorneys, Attorneys
Halpern Keith S
572 Washington St # 19
Wellesley, MA 02482
(617) 722-9952
Legal Service Plans, Criminal Law Attorneys, DUI & DWI Attorneys, Traffic Law Attorneys, Attorneys,
Mone William D
40 Grove St # 105
Wellesley, MA 02482
(781) 235-9511
General Practice Attorneys, Attorneys, Legal Service Plans
Massachusetts Family Law Group
297 Weston Rd
Wellesley, MA 02482
(508) 480-8770
Attorneys, Divorce Attorneys, Family Law Attorneys
Kertzman and Weil
40 Grove St Ste 280
Wellesley, MA 02482
(781) 237-8701
Attorneys, Legal Service Plans
Burke & Burke
26 Kenilworth Rd
Wellesley, MA 02482
(781) 237-7800
General Practice Attorneys, Legal Service Plans, Attorneys
Jameston Cooper Law Offices
8 Grove St
Wellesley, MA 02482
(781) 237-7766
General Practice Attorneys, Attorneys
Connolly Neil
1 Hollis St # 435
Wellesley, MA 02482
(781) 237-7420
General Practice Attorneys, Attorneys
Locke Fullerton & Lundwall
8 Grove St # 400
Wellesley, MA 02482
(781) 235-7000
General Practice Attorneys, Legal Service Plans, Attorneys
Goodman Noah B
888 Worcester St # 260
Wellesley, MA 02482
(781) 237-6624
General Practice Attorneys, Attorneys, Legal Service Plans
Woodacre Lorri Seibert
8 Grove St # 402
Wellesley, MA 02482
(781) 237-6020
Attorneys, Legal Service Plans
Kellogg & George
8 Grove St
Wellesley, MA 02482
(781) 237-5400
Attorneys, Legal Service Plans
Rackemann Sawyer & Brewster Trusts & Estate Dept
1 Hollis St
Wellesley, MA 02482
(781) 235-5252
Attorneys, General Practice Attorneys
Rackemann Sawyer & Brewster
1 Hollis St
Wellesley, MA 02482
(781) 235-5252
General Practice Attorneys, Attorneys
Klevan Bryna
1 Hollis St # 243
Wellesley, MA 02482
(781) 237-4700
Attorneys, Legal Service Plans
Ginsburg & Leshin
1 Hollis St # 423
Wellesley, MA 02482
(781) 235-3332
Mediation Services, Attorneys, Arbitration Services
Grindle Robinson Goodhue & Frolin LLP
40 Grove St Ste 190
Wellesley, MA 02482
(781) 235-3300
Family Law Attorneys, Attorneys, Legal Service Plans
Linsky Bruce E
888 Worcester ST
Wellesley, MA 02482
(781) 235-3200
Attorneys, General Practice Attorneys
Anthony J Voci
888 Worcester St Ste 260
Wellesley, MA 02482
(781) 237-3030
General Practice Attorneys, Attorneys, Legal Service Plans
Sullivan Dennis B
888 Worcester St # 260
Wellesley, MA 02482
(781) 237-2815
Attorneys, Legal Service Plans
Lichtman Richard K
40 Grove St # 335
Wellesley, MA 02482
(781) 416-2088
General Practice Attorneys, Attorneys, Legal Service Plans
Murphy & Lewis Law Offices
462 Washington St
Wellesley, MA 02482
(781) 416-1888
General Practice Attorneys, Attorneys
Lawrence G. Hoyle
1 Hollis Street, Suite 422
Wellesley, MA 02482
(781) 489-1489
Attorneys,  Family Law Attorneys,  Tax Attorneys,  Estate Planning, Probate, & Living Trusts,  Eld
Soloway Scott M
888 Worcester St # 260
Wellesley, MA 02482
(781) 239-1470
General Practice Attorneys, Legal Service Plans, Attorneys
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US