Establishing and maintaining a trust is a deliberate process. Generally those who do so, are planning ahead not just for themselves, but looking to protect the future or legacy of those close to them as well. An essential part of establishing a trust is funding, this is the process by which your assets are moved into the trust. Some of …
Co-Ownership: Is this the best Choice for you? Tenancy in Common (part one)
Co-Ownership: Is this the best Choice for you? (Part 1 of a 3 part series) When two or more parties have agreed to purchase a property together, they must decide how the title to the property will be held. Determining how you will establish this title must be an informed decision. This becomes especially important in the case of shared …
What Type of Trust is Best for You
You have decided to consider creating a Trust. Generally people decide on this course to help ensure financial stability to themselves and their loved ones. When you begin the process with your lawyer you will need to determine what kind of trust meets your needs. You as the creator of the Trust are the “settlor”, “Trust maker” or “Grantor”. …
Speeding and Moving Violations in Massachusetts
As congestion and traffic conditions worsen drivers become more harassed and likely to err. Most often these errors act as a wake up call and drivers self-correct. However at other times the law enforcement on our roads and streets offer incentive to slow down and be more attentive. Hidden Costs Your signature on the back of speeding ticket can sum …
What is a Living Trust?
When establishing a Living Trust, you are opting to serve as grantor, trustee, and beneficiary for the trust for the remainder of your lifetime. A trustee would be the person who is in charge of the trust assets. In a living trust, you would remain trustee until you are unable to perform those duties (generally incapacitation or death). A “beneficiary” …
Why You Should Review Your Estate Plan Regularly
There are many reasons why you should revise your estate plan periodically. Most recently, the Tax Cuts and Jobs Act of 2017 (the act), which was signed into law on Dec. 22, 2017, made substantial changes to the Internal Revenue Code. The name may sound simple, however the changes are the most comprehensive in years. There are many complex changes …
The Best Ways to Avoid Probate
In our recent blog post we outline what probate is and what the process entails in a simple step-by-step guide. Probate refers to the settlement and distribution of one’s assets in compliance with the terms of the will. The state court manages this, and all assets that you own individually and intend to pass on to heirs is subject to probate. …
What Is Estate Planning? The Ten Tasks
You have often heard the phrase, “You can’t take it with you.” For this reason, it is important to have a sound estate plan in place to ensure that your assets are distributed according to your wishes and will provide for the security of your dependents and loved ones. It can also transfer or liquidate business interests avoiding complications and confusion. Estate planning …
The New Massachusetts Uniform Probate Code, Discussion Part 1
The New Massachusetts Uniform Probate Code, Discussion Part 1 By: John N. Tramontozzi, Esq. When it comes to wills and the administration of Estates Massachusetts now follows the new Uniform Probate Code adopted in March of 2012. This statute was a complete revision and rewrite of the probate laws. The MUPC makes it easier and quicker for an estate to …
Probate
Probate Melrose, Massachusetts Real Estate Attorney Serving Clients in Middlesex County, Essex County Prudent Guidance for Settling a Loved One’s Estate Probate is the legal process of distributing the assets of an estate in accordance with the wishes of the deceased, through a will or through State succession laws if there is no will. If you have been named personal representative, …
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