If you’re reading this article, it’s because you already know that a trust can be a great tool for accomplishing the transfer of assets and supporting your estate plan. But setting up the trust in and of itself is only the first step- your trust can only execute your goals if it’s properly funded. A trust should always be created with full evaluation of all the benefits you hope to reap from the trust.
From getting more privacy to exercising control over how assets inside the trust are passed along to your beneficiaries, trusts are popular and powerful estate planning tools.
Funding your Massachusetts trust can be accomplished by working with the right estate planning attorney. After the initial trust is drafted, property should be aligned with the trust. Consideration of which assets to put inside the trust should be done with care. There are a few different ways you can fund your Massachusetts trust, including change of title, assignment of ownership rights, and changing a beneficiary.
Are you unsure which assets you want to put inside a trust? Do you have questions about whether a revocable or irrevocable trust is more appropriate for your intentions? Consider speaking with a Massachusetts estate planning lawyer to get a customized plan for your needs.
