Trust Attorneys in Boston
About Jillise McDonough Law Firm
Few things are as important as having a clear, comprehensive estate plan. If you’re planning to pass down wealth to the next generation, you deserve to work with the top trust attorneys in Boston.
A skilled estate planning attorney deeply understands the importance of trust formation. At Jillise McDonough Estate Planning Law Firm, trust formation is a critical practice area, and we’re proud to have some of the top trust attorneys in Boston on our team. If you think your estate plan should include one or more trusts, we can help.
As trust and estate planning attorneys, we do much more than trust administration and creation. We help individual clients and families decide where trusts fit into their broader estate plans. No estate is too simple or too complex for our experienced team.
How we can help
Trust Services We Offer
We assist our clients in establishing and managing a variety of trust types. These are some of the primary trusts we offer: Irrevocable trusts, Revocable living trusts, Special needs trust
Learn a bit about each of these practice areas and how they may be of use to you and your beneficiaries:
Types of Trusts Recognized in Massachusetts
When it comes to trust and estate planning, there are many types of trusts you can choose from. These are some of the most common trusts in Massachusetts:
Revocable Trusts
A revocable trust is a trust that you can easily modify or dissolve. These trusts are flexible, and they make it easy to keep some or all of your assets out of probate. Probate is often a long, expensive, and public process, so many people want to protect their loved ones from it when they can.
Irrevocable Trusts
Irrevocable trusts can’t be modified or dissolved (except in very limited circumstances). They can reduce the size of your taxable estate, and they may also protect it from creditors.
Irrevocable Life Insurance Trusts
For many people (and especially high-net-worth individuals), their life insurance policy can greatly increase the value of their estate. In some cases, that may lead to significant tax liabilities.
An irrevocable life insurance trust can shield your loved ones from potential tax issues after your death. With this kind of trust, you remove your life insurance policy from your estate and make sure it goes directly to your beneficiaries.
Special Needs Trusts
If you have a loved one with special needs, you might want some of your assets to be set aside to provide for their care after your death. However, you might be concerned that leaving them money will make them ineligible for Medicaid or other government benefits.
A special needs trust allows you to provide support for a loved one with special needs without affecting their eligibility for benefits. A trustee will oversee the distribution of funds. Funds are often usually used for education, therapy, and other expenses not covered by benefits programs.
Charitable Trusts
Charitable trusts can offer benefits to you and your family while allowing you to support tax-exempt organizations. One of the most common types of charitable trusts is the charitable remainder trust. Charitable remainder trusts pay an income stream to you (or a beneficiary of your choice) for a predetermined period of time. After that, the remaining assets in the trust are passed on to the charity you choose.
Charitable lead trusts flip the process. With a charitable lead trust, the trust pays interest to a charity you choose for a period of time. After that, assets remaining in the trust go to you or a designated beneficiary.
Benefits of Hiring a Trust Lawyer in Massachusetts
Over the course of planning your estate, you’ll make very important decisions. A trust lawyer has a fiduciary duty, which means that they are obligated to act in your best interests.
The right trust and estate lawyer can help you choose personal representatives, avoid unnecessary taxation, and save your loved ones the pain of estate litigation.
These are some additional benefits of working with a skilled trust lawyer:
Trust Attorneys in Boston Can Help You Avoid Potentially Costly Errors
Careful trust and estate planning can help you minimize gift tax and estate tax.
You Might Keep Your Assets Out of Probate With Estate Planning
In most cases, creating a trust helps avoid probate court and estate litigation.
You Can Avoid Trust and Estate Disputes
As some of the top trust attorneys in Boston, we understand how to structure trusts to minimize the risk of disputes. Allegations of undue influence and lack of capacity are common in trust and estate litigation. So are petitions to remove trustees.
If needed, your trusted litigation attorney in Boston will represent you in court.
You’ll Get Personalized Guidance on Trusts/Estates
The best lawyers can help you identify the right estate planning tools.
Why Choose Our Trust Lawyers?
Whether you’re just wondering how to set up a trust or are currently hand-picking individual trustees, you deserve to work with skilled trust attorneys. Here are a few reasons to consider Jillise McDonough Estate Planning Law Firm when you need help with the challenges of establishing trusts, estates, and more:
- We have in-depth knowledge of the Massachusetts Uniform Trust Code and Boston trust laws
- We believe in crafting customized plans for each of our clients
- We have a fiduciary duty to you, which means we act on your behalf and in your best interests
- We have experience with trust disputes and can represent you in court if needed
- We offer lasting support throughout the process of estate planning, trust administration, or both
Not sure if our trust lawyers are the right ones for you? We invite you to schedule a consultation to get to know us.
Contact and Next Steps for Boston-Area Families
Estate administration adds an extra layer of complexity to estate planning. If you think you may need to open one or more trusts as part of your estate plan, you need a law firm with extensive experience.
If you’re looking for a top lawyer to handle your trust and estate planning, get in touch to book your introductory consultation today.
