Irrevocable trusts are often seen as set in stone, but life doesn’t always follow the plans we make. Sometimes, circumstances change, and a trust may no longer meet the needs of its beneficiaries or align with the grantor’s original intentions. Whether it’s due to a significant life event, tax law changes, or...
Pooled Trusts Reinstated: An Asset Protection Tool for Long-Term Care Planning
By Attorney Erin l. Nunes, Esq., Partner
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Great news for Massachusetts residents! Pooled trusts are once again available as an asset protection tool for those planning for long-term care. Thanks to the recent passage of the Long-Term Care Bill, individuals seeking MassHealth benefits can now establish a pooled...
Using Trusts for Medicaid Planning in Massachusetts
Medicaid is a government program that provides health care coverage to people with limited income and resources. To qualify, you must meet strict eligibility criteria, which include limits on your income and assets. For many applicants, this means reducing their countable assets below specific thresholds. Without planning, this could require spending down...
Is a Trust Better Than a Will?
Have you ever wondered whether a trust or a Will is better for your estate planning needs? Many people face this dilemma when considering how to protect their assets and ensure their wishes are honored. Each option has its unique benefits and drawbacks, and choosing the right one can significantly impact how...
How Trusts Can Provide for Loved Ones With Substance Abuse Issues
Substance abuse is an escalating concern in Massachusetts and across the nation, impacting countless families and communities. At Surprenant & Beneski, P.C., our estate planning attorneys have extensive experience assisting families who are coping with a loved one's substance abuse issues. Knowing that problems of substance abuse impact individuals and their families...
Special Needs Trust vs ABLE Account
At Surprenant & Beneski, P.C., we specialize in providing estate planning services to clients throughout Southeastern Massachusetts. Among the crucial tools in our estate planning arsenal are Special Needs Trusts (SNTs) and ABLE accounts, each designed to enhance quality of life for individuals with disabilities without compromising their eligibility for essential...
Jay Leno and Conservatorship: Protecting Assets or Restricting Rights?
By: Attorney Michelle D. Beneski, Esq., CELA, LLM Taxation, Managing Partner
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The recent news of Jay Leno seeking conservatorship for his wife has brought this legal process into the spotlight. While it can be a crucial...
What is an Irrevocable Life Insurance Trust?
An Irrevocable Life Insurance Trust, or ILIT, is a trust specifically designed to own and be the beneficiary of one or more life insurance policies. Once an ILIT is set up and a life insurance policy is transferred into it, the trust itself becomes the owner of the policy. This means that...
What You Should Know Before Setting Up a Trust for Minor Children
When it comes to safeguarding your children's future, establishing a trust can be one of the most prudent steps you can take. At Surprenant & Beneski, P.C., our seasoned trust attorneys specialize in assisting clients throughout Southeastern Massachusetts and Cape Cod in protecting assets and securing family legacies. Here's an informative...
Keeping Your Keys in the Right Hands: Trust Benefits for Real Estate in Massachusetts
Written by Attorney Daniel M. Surprenant, Esq, CELA, Managing Partner
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We know the pride and joy homeowners feel when passing down their treasured properties. But what if the transfer process could be smoother, more secure, and less stressful for everyone involved? Enter the trust, a legal tool...