Your trust can own your S-corp shares in Massachusetts, but only certain kinds of trusts qualify, and the wrong one can quietly destroy your company’s S election and its tax status. While you are alive, a revocable living trust can hold S-corporation stock with no problem. After you die, that same trust can keep the
Should My Trust Own My S-corp Shares in Massachusetts? Read More »
If you have a will, you may feel like your family is all set, and that is a completely reasonable thing to believe. Most people assume a will keeps their loved ones out of court. We hate to be the bearers of bad news, but a will is actually the document that sends an estate
Michael thought his revocable living trust had everything covered. But when it came time to administer the trust, his family discovered he’d never properly identified or valued several key assets, including digital accounts, a storage unit full of collectibles, and mineral rights inherited from his parents. What should have been a straightforward process turned into
We often think of estate planning as a way to protect our assets while we’re alive. However, one of the most powerful functions of a well-drafted living trust is its ability to protect your children’s inheritance from their future risks, specifically lawsuits, divorce, and bankruptcy. If you leave money to your heirs through a simple
A guide from your Andover will and trust lawyer Pets give us unconditional love, yet many owners have no written plan for their care if illness, an accident, or death leaves them unable to watch out for those wagging tails or gentle purrs. Below are practical steps to guarantee that the animal who depends on
As an Andover trust attorney, I’ve guided countless parents through creating comprehensive estate plans. While most understand the importance of having a will, many aren’t aware that this document alone may not provide the protection their children need. Trusts offer powerful benefits that go far beyond what a basic will can accomplish, especially for families
As you are setting up your trust and making the very important choice of who will serve as trustee, you may be wondering if this person will get paid for their services and how that is accomplished. Do your heirs have to pay them out of pocket? Let’s explore how trustee compensation typically works. Understanding
Does a Trustee Get Paid? A North Shore Trust Lawyer Explains Trustee Compensation Read More »
In the wake of recent natural disasters—especially devastating floods and the fires in California—many social media posts have claimed that if your property is held in a trust or LLC, it won’t be covered by insurance. This is not entirely accurate. While it is true that you can face coverage gaps if your trust or
As a trust lawyer in Andover, I often hear this question from homeowners who want to protect their assets but worry that their mortgage might stand in the way. The good news? Having a mortgage doesn’t prevent you from putting your home in a trust, and the process is typically straightforward. The Truth About Mortgages
Can I Put My House in a Trust if I Have a Mortgage? An Andover Trust Lawyer Explains Read More »
As Bitcoin and other cryptocurrencies reach unprecedented heights, more investors are entering the digital asset space. While the potential for returns is exciting, these investments present unique estate planning challenges that traditional assets don’t share. As a North Shore will and trust lawyer, I’ve seen how proper planning can mean the difference between preserving or
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