Wealth Preservation Planning

Wealth Preservation Planning Wills, Trusts, & Estate Planning

Can I Put My House in an Irrevocable Trust If I Still Have a Mortgage in Massachusetts?

Yes, a Mortgage Does Not Stop You Yes, having a mortgage does not automatically prevent you from putting your Massachusetts...

Wealth Preservation Planning Wills, Trusts, & Estate Planning

What Is a Trust Protector, and Do I Need One in Massachusetts?

What a Trust Protector Is A trust protector is a person given specific authority over certain parts of a trust,...

Wealth Preservation Planning Wills, Trusts, & Estate Planning

Can You Get a Mortgage or Refinance a House in an Irrevocable Trust in Massachusetts?

Possible, but It Takes More Review It may be possible to obtain a mortgage or refinance a house already held...

Wealth Preservation Planning Wills, Trusts, & Estate Planning

Can You Change an Irrevocable Trust Through Decanting in Massachusetts?

Massachusetts Has No Decanting Statute Sometimes you can, but Massachusetts has not followed the many other states that have enacted...

Wealth Preservation Planning Wills, Trusts, & Estate Planning

Can a Spendthrift Trust Protect My Child’s Inheritance in Massachusetts?

A Spendthrift Provision Can Protect an Inheritance, Within Limits A properly designed trust with a spendthrift provision can help protect...

Wealth Preservation Planning Wills, Trusts, & Estate Planning

How Should My Financial Advisor and Estate Planning Attorney Work Together?

Your financial advisor and your estate planning attorney should work together, with each taking responsibility for the advice they are...

Wealth Preservation Planning Wills, Trusts, & Estate Planning

What’s the Difference Between a Homestead Declaration and an Asset Protection Trust?

A Massachusetts homestead declaration and an asset protection trust address different legal risks, even though both may come up when...

Wealth Preservation Planning Wills, Trusts, & Estate Planning

Can You Sell a House in an Irrevocable Trust in Massachusetts?

A house held in an irrevocable trust can often be sold in Massachusetts, provided the trustee has the necessary authority...

Wealth Preservation Planning Wills, Trusts, & Estate Planning

What Is a Step-Up in Basis, and Should I Gift My House to My Children?

A step-up in basis can substantially reduce the capital gains tax your children face when they sell inherited property. It...