Drafting a Trust In Brockton, Massachusetts

Find the right Drafting a Trust attorney in Brockton, MA

A trust in Brockton, 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. Additionally, 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 authorize 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, basically letting them do whatever they want with the money, if that's what you want to do.

What to Include in Any Brockton, MA Trust

To set up a valid trust in Brockton, Massachusetts, 4 elements are required. First, the trust must have a stated purpose, and this purpose must be clearly laid out in the documents that create the trust.

Second, the trust must also name a trustee. The trustee is the person who is really going to administer the trust, and has possession and control of the property while it is the subject of the trust.

The third required element to make a valid trust is the beneficiary or beneficiaries. Because a trust, by definition, is set up to benefit someone or something, that entity must be identified in the trust. However, if the person(s) meant to benefit from the trust do not yet exist, they can still be valid beneficiaries, as long as they are part of an identifiable class of people, and can be easily identified if they are born. For example, you could set up a trust to benefit your grandchildren, even if you don't really have any grandchildren yet.

Lastly, the trust needs to really be composed of something. A trust document must name the money or property which is really being held in trust, which is recognized as the "corpus" or "body" of the trust.

Can A Brockton, 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 difficult. Therefore, it is advisable to contact a brilliant Brockton, Massachusetts attorney to help you set up a trust.

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

Life in Brockton

Brockton is located in Plymouth County, Massachusetts with a population of around 93,810 people. Brockton is the seventh largest city in Massachusetts. It is nicknamed the "City of Champions" due to the success of resident boxers Rocky Marciano and Marvin Hagler. Brockton High School's sports programs are also very successful, and also contribute to the city's nicknames.

What is interesting is that in 2005, 2008, and 2010, Brockton was named as one of the 100 Best Communities for Young People. This award is given by America's Promise Alliance. Some reasons for this award is Brockton's dedication to education, mentoring, and volunteerism.

There are some great attractions to check out in Brockton. Such places include the Audubon Conservation Area, Brockton Fire Museum, Campanelli Stadium, D.W. Field Park, Franklin Block, Petronelli Way, Sacco Vanzetti Museum, and the SOuth Street Historic District.

Brockton is also filled with attorneys who are devoted to their practice, and who can adequately fulfill the legal needs of Brockton residents.

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