Trusts

A Boston trusts attorney requires experience in financial and legal estate planning issues

The Nigro, Pettepit & Lucas, LLP, trusts attorneys in Boston play an important role in ensuring the financial concerns of your heirs are handled in accordance with your wishes after you die or if you become incapacitated and lose the ability to make critical decisions.  Each Boston trust attorney at our firm has the financial, tax, and legal expertise needed to develop an effective plan based on the unique goals and circumstances of each client.

How trusts work

In essence, a trust (known as a living trust) is created when an experienced trust lawyer in Boston drafts a document that transfers ownership of certain documents to a trust and that names you as trustee so you can retain control over them.  You also name one or more alternate trustees to manage your trust when you are unable to carry out your responsibilities—either due to physical or mental incapacitation  or when you die.

There are numerous types of trusts that address many unique financial circumstances.  An experienced trusts attorney in Boston can help determine which type is right for you.  But regardless of the type of trust, a key advantage is that, unlike a will, any assets in a trust are usually exempt from probate proceedings.

The advantages of trusts

Your trusts attorney in Boston should help you understand both the disadvantages and the advantages of a trust.  Among the advantages are the following:

• Assets transfer to your heirs as intended:  Once assets are no longer owned by you, they cannot be used by probate courts to pay outstanding debts upon your death, allowing your heirs to receive the assets you intended for them.
• Will contests are avoided:  Another benefit of avoiding the probate process is avoiding the chances that others attempt to claim your assets against your wishes.
• Trusts are private:  A key component of probate proceedings involves advertising details about your financial affairs to ensure anyone with a claim has the opportunity to come forward.  When our Boston trust lawyers help you develop a trust for your assets, no publicity is required.

Developing a long-term relationship with your lawyers

It is important to understand that any assets not named in the trust do not benefit from the advantages of the trust and are virtually guaranteed to go through probate.  Your trust attorney in Boston helps ensure that all important assets are included in your trust—and helps you maintain the list of assets as they increase or decrease over time.  The Boston trust attorneys at Nigro, Pettepit & Lucas, LLP, work with you to ensure your trust is up to date.  And we follow up to remind you of the importance of a periodic review.

Contact an experienced Boston trusts lawyer to protect your assets for your heirs

The Boston trusts attorneys at Nigro, Pettepit & Lucas, LLP, have the legal and financial experience needed to provide a full range of estate planning you need to ensure your heirs are protected.  Contact the Boston trusts lawyers at  Nigro, Pettepit & Lucas, LLP, to learn how we can help.

Nigro, Pettepit & Lucas, LLP

649 Main Street, Wakefield, MA
(781) 245-4545

1 Inn Street, Newburyport, MA
(978) 462-9008