Legal Question in Wills and Trusts in Massachusetts

trust for my children

I am a single mother of children ages 14 and 10. The only asset I have is my home. I would kie to put my home in a trust fund for my children in case something happens to me. could you list some pros and cons to this idea?


Asked on 10/08/06, 7:33 am

1 Answer from Attorneys

Re: trust for my children

You should consider estate palnning and what is called a "testamentary trust." This instrument only kicks in upon your death and will not interfere with your current mortgage (if any) and annual tax returns like an inter vivos trust that you are thinking about. It is a simple enough matter and involves restructuring your will. Please feel free to call me if you have particular questions or would like to arrange to have this done.

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Answered on 10/08/06, 11:58 am


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