LIVING TRUST - SUDBURY MA

 A Living Trust—also called a Revocable Living Trust—is one of the most effective estate planning tools available in Massachusetts. It allows you to manage and protect your assets during your lifetime, and then seamlessly transfer them to your beneficiaries after your passing. By placing assets into the trust, you remain in control while you’re alive, and after your death, your trustee distributes everything according to your instructions—without going through probate. That means avoiding a process that can be both time-consuming and expensive.

Revocable living trusts are a smart choice for protecting what you’ve built, naming guardians for minor children, and guiding beneficiaries who may not be ready to manage an inheritance on their own. They’re also particularly helpful in Massachusetts, where the probate process is often lengthy and costly.

Think of a revocable living trust as a personalized “rulebook” for your estate. It ensures your loved ones can avoid unnecessary delays in court while carrying out your wishes exactly as planned. Whether your goal is to protect your legacy or make things easier for your family, a living trust provides lasting peace of mind and control.

Living Trust vs. Probate

A Living Trust is a practical way to safeguard your assets during your lifetime should you become incapacitated while streamlining the process for your loved ones after you pass away. It helps your family avoid the hassle and expense of going through probate court and allows you to decide exactly who will inherit your assets and how they will be managed.

Discover more about Living Trusts and how they work under Massachusetts law to protect your legacy and provide peace of mind.

https://www.mass.gov/info-details/massachusetts-law-about-trusts

Living Trust vs. Will: What’s the Difference?

Making a plan for your belongings is important. A Living Trust and a Will both help make sure your things go to the right people, but they work in different ways. Here’s an easy comparison to help you understand why a Living Trust might be a better choice for many families.

Here’s why a Living Trust might be better than going through probate:

1: Cost

  • Living Trust: Making a Living Trust with a lawyer usually costs a few thousand dollars. While that may sound like a lot, it’s much cheaper than what you’d pay in probate fees later.

  • Probate (without a Living Trust): Probate is the court process that happens when someone dies without a Living Trust. It can be very expensive. For example, if someone in Sudbury owns a house worth $750,000 and doesn’t have a Living Trust, the lawyer’s probate fees could be $10,000–$20,000! That’s way more than setting up a Living Trust in the first place.

2: Choice

  • Living Trust: With a Living Trust, you stay in control. You get to decide:

    • Who gets your things.

    • When they get them.

    For example, you can plan for your granddaughter to get your house when she turns 30, while making sure she’s cared for in the meantime.

  • Without a Living Trust (or Will): If you don’t have a Living Trust or Will, the state decides who gets your things. Their rules might not match your wishes.

3: Time

  • Living Trust: A Living Trust can be set up quickly, and when you pass away, your belongings go to your loved ones without delay.

  • Probate: Probate can take over a year to complete. During that time, your family may have to wait for access to your things, which can make a difficult time even harder.

Revocable vs. Irrevocable Living Trust?

At 20West Legal, this is one of the most asked questions. Revocable vs. Irrevocable trust; Which One Is Right For You?

Let us compare the two types:

Revocable Living Trust

Definition: This type of trust can be modified, amended, or revoked by the grantor during their lifetime.

Benefits:

  • The grantor keeps full control of the assets while alive.

  • Avoids probate and streamlines the transfer of assets after death.

  • Can help reduce or eliminate estate taxes for married couples, provides protections around minor beneficiaries inheritance, can provide asset protection for all beneficiaries.

Drawbacks:

  • Assets remain part of the grantor’s estate, so they may be subject to estate taxes.

  • Offers little protection from creditors.

Irrevocable Living Trust

Definition: A trust that, once established, generally cannot be changed, amended, or revoked.

Benefits:

  • Flexible tax structure with the ability to exclude assets (for estate tax reduction or asset protection) or include them (for step-up in basis or income tax advantages) depending on strategy.

  • Provides strong protection against creditors and lawsuits.

  • Can be useful for Medicaid and long-term care planning.

Drawbacks:

  • The grantor gives up control over the assets.

  • Trust terms are difficult (and often impossible) to modify.

In this video, estate planning attorney Erica Endyke explains the Difference between Revocable and Irrevocable trusts.

Living Trusts - Relevant information

For expert assistance in drafting a Living Trust in Sudbury, contact us at (978) 440-0014.