Legal Question in Real Estate Law in Massachusetts

Re: Protecting a home in a civil suit

The first question you have to answer for a lawyer is "why are you concerned?"

There are numerous possible steps to take. First, each person is allowed to homestead a certain amount of value: $100,000 per one person, $200,000 for a senior citizen, and up to $300,000 for a married couple one of whom is a senior citizen.

There are offshore asset protection trusts, real estate holding entities such as a nominee or qualified personal residence trusts, and certain types of mortgages to consider. Another protection method is to give away the real estate!: to your spouse or in a certain fashion to your children, which has other advantages as well.

If you are in or about to be sued, the game is much different than if you are just making general plans.

Call or e-mail me for more information.

One of the ones I favor is the use of a nominee trust