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Would there ever be a reason to create more than one trust?

Individuals and families in Massachusetts and nationally that are thoughtfully focused upon estate planning often have numerous questions regarding trusts.

Those queries run a wide gamut, and that is understandable. There are many types of trusts, with the instrument collectively commanding a broad-based utility. That is, trusts can be employed as impressively flexible legal tools to promote any number of key planning goals.

A reader recently posed a fundamental question to a trust-focused columnist that we think merits spotlighting in today's post.

That query was direct, namely this: Can a planner establish more than one trust?

It's a good question, with the answer being equally succinct, as well as unequivocal. Indeed, planners across the county often create multiple trusts for varied reasons.

A tandem question that a specific individual might reasonably ask is this: Given my particular circumstances, will creating more than one trust promote my estate goals?

That is something that can be best decided via a candid and comprehensive discussion with an experienced estate planning attorney.

A seasoned estate administration lawyer will help a would-be or actual client identify exactly what it is that is sought to be addressed through trust creation. Is it asset preservation and/or protection from creditors? Is the primary focus on charitable giving? Perhaps a loved one has special needs, which a trust can optimally address. It is sometimes the case, too, that a planner is thinking far down the road and might see the value in establishing a generation-skipping trust.

The bottom line is that there are myriad trust vehicles that can be smartly incorporated into a tailored estate plan. A proven attorney can discuss them with a planner and ensure their employment in a manner that optimally promotes estate-linked objectives.

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The Law Offices of Kimberly Butler Rainen
21 Central Street
Andover, MA 01810

Phone: 978-494-6730
Phone: 978-409-1928
Fax: 978-849-8212
Map & Directions

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We are in a 1700s Colonial located on the intersection between Brook Street, Central Street and Essex Street in historic downtown Andover, Massachusetts. The parking lot entrance is located on Brook Street, which is a one-way. From Central, turn down Essex Street. Before reaching the railroad tracks, when you see the St. Augustine Church on your right, take a sharp left turn on to Brook Street, which will turn you back toward Central Street. As you ascend the hill back toward Central Street, you will see large stone pillars on either side of the entrance to our parking lot. We have assigned parking spaces numbered 7 and 10.

From the parking lot, you may take the stairs located on the rear, left-side of the building up to the garden area, where the foyer entrance to our office is located. You can also follow the sidewalk on Brook Street up to Central Street, walk along Central Street past the main house entrance (with a wrought iron gate across the walk way) to an opening in the wrought iron fence, in to the garden area where the foyer entrance to our office is located.