Drafting a Trust In Arlington, Massachusetts

Find the right Drafting a Trust attorney in Arlington, MA

A trust in Arlington, Massachusetts is a legal arrangement for the management of property by one person, for the benefit of another. In the simplest possible terms, if property is held in trust, it is possessed and controlled by one person, but it is technically owned by another person, who benefits from the property.

There are many reasons why a person might set up a trust. A well-managed trust, started with a substantial amount of money, can mature into a sizable college fund for a child. Furthermore, if the trust is well-drafted, the beneficiary can be restricted in how they use the money, so they don't waste it.

A trust can be set up to allow the beneficiary to access the money in it under any conditions the person making the trust wishes. For example, the trust could be set up so the beneficiary can only use the money in it for education.

Because you, as the trustee, can determine the rules under which the trust operates, you could give the beneficiary the right to access the fund at any time, for any reason, effectively letting them do whatever they want with the money, if that's what you want to do.

What to Include in Any Arlington, MA Trust

To create a trust in Arlington, Massachusetts, 4 things are required. The first is purpose - the trust must be set up to serve some kind of objective, and it must be clearly stated in the document that creates the trust.

Second, the trust needs a trustee. The trustee will have possession of the property or money that is being held in trust, and will be responsible for putting it to the use that the creator of the trust intended.

Third, the trust also has to name a beneficiary. This is the person or entity (such as a charitable organization) who is going to benefit from the trust.

Finally, the trust needs to have a corpus, or body. The "body" of the trust is the property that benefits the beneficiary, and that the trustee oversees. Obviously, there can be no trust without something being held in trust.

Can A Arlington, Massachusetts Trust Drafting Attorney Help?

While it's not difficult to understand the basic requirements of a trust, actually creating a trust can be a bit more complex. Therefore, it is advisable to contact a good Arlington, Massachusetts attorney to help you set up a trust.

Talk to a Wills, Trusts and Estates Law Attorney now!

Life in Arlington

Arlington is located in Middlesex County, Massachusetts. It is very near Boston--approximately 6 miles northwest of it. Arlington has a population of around 42,900 people.

For nature lovers, Arlington is the place to be! It is filled with beautiful parks. Popular sites include Menotomy Rocks Park, Robbins Farm Park, Robbins Library, and Spy Pond Park. Other popular attractions include the Arlington Center Historic District, the Cyrus E. Dallin Museum, Henry Swan House, the Jason Russell House, Water Tower at Park Circle and the Uncle Sam Memorial Statue.

Past famous residents of Arlington include Dane Cook, Olympia Dukakis, Timothy Hutton, Alan "Blind Owl" Wilson, and Tom Yewcic.

The legal industry also has a presence in Arlington because many attorneys call Arlington home. These attorneys practice in many areas of law and focus on providing excellent and personalized legal services.

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