The 5 Most Useful Trusts in Massachusetts
Why Trusts Matter in Massachusetts
According to a study cited by AARP, only 33% of Americans have a will or living trust. Even though 82% say estate planning is important, most delay it often due to cost, uncertainty, or procrastination.
In Massachusetts, probate often lasts about a year, and longer if the estate is contested.
Trusts solve these challenges by offering benefits that go far beyond probate avoidance.
Top Benefits Of Trusts In Massachusetts
Privacy
Protection for Loved Ones
Asset Security
Control & Flexibility
Potential Tax Advantages
The 5 Most Useful
Trusts in Massachusetts
Revocable Living Trust
Avoid probate, protect privacy, and stay flexible during your lifetime.
What it is: A flexible trust you create during your lifetime that can be changed or revoked.
Benefit: Lets your family avoid Massachusetts probate while keeping your plans private
Irrevocable Trust
Protect assets from creditors and reduce estate taxes with an irrevocable trust.
What it is: A trust that, once established, generally cannot be changed.
Benefit: Shields assets from creditors and nursing-home costs; may reduce estate taxes.
Testamentary Trust
Built into your will, it provides structure and oversight for inheritances.
What it is: A trust created in your will that takes effect only after your death.
Benefit: Allows you to control how and when assets are distributed, especially for children.
Special Needs Trust
Provide lifelong care without reducing a loved one’s SSI or Medicaid benefits.
What it is: An irrevocable trust that provides for a person with disabilities without affecting eligibility for government benefits.
Benefit: Ensures lifelong care while protecting access to SSI and Medicaid.
Charitable Trust
Support charities while preserving financial benefits for you and your estate.
What it is: A trust that directs assets to a chosen charity, either during life or after death.
Benefit: Supports causes you care about and may reduce income and estate taxes.
Steps to Get Started With A Trust In Massachusetts
Protect What Matters Most
Whether you want to safeguard your children’s future, reduce taxes, or give back to charity, the right trust can make it possible. A Massachusetts estate planning lawyer at Surprenant, Beneski & Nunes can help you get started.