At Jordan & White, we help families plan for a great life by creating simple, personalized solutions to protect their future and the people they care about most.
A living trust ensures your assets are distributed according to your wishes while helping your family avoid unnecessary delays, costs, and stress.
What is a Living Trust?
A living trust is a simple way to protect your assets—like your home, bank accounts, and investments—while ensuring they go directly to your loved ones without the delays and costs of probate. With a living trust, you stay in control of your assets during your lifetime and make things easier for your family in the future.
Why Choose a Living Trust?
- Skip Probate: Avoid the lengthy and costly court process for distributing assets.
- Keep It Private: Unlike a will, a trust keeps your financial matters out of public records.
- Plan for the Unexpected: If you’re unable to manage your assets, a trusted person you choose can step in.
Important Tips for Massachusetts Residents
- Plan for Estate Taxes: Massachusetts estates over $2 million are taxed. A living trust, paired with tools like marital or irrevocable trusts, can help reduce these taxes and protect more of your assets.
- Protect Your Home: Massachusetts offers limited homestead protection for your primary residence. Including your home in a trust can provide additional security for your family.
- Choose the Right Trust: Revocable trusts give you flexibility, while irrevocable trusts can offer Medicaid planning benefits and stronger asset protection.
- Simplify Probate: If your estate is small, a simple will might work, but trusts offer more control and long-term flexibility.
- Cover All Your Bases: When setting up a trust, consider pairing it with a healthcare proxy and durable power of attorney to ensure both your financial and medical decisions are covered.
Let Jordan & White Help
Determining the best approach often depends on the unique details of your assets and family dynamics. Our team at Jordan & White, is here to guide you, ensuring your loved one’s wishes are respected and your family’s interests are safeguarded. Call us at 978-744-2811 to schedule a consultation.