Drafting a Trust In Brookline, Massachusetts

Find the right Drafting a Trust attorney in Brookline, MA

A trust in Brookline, Massachusetts is a legal arrangement for the management of property by one individual, 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 individual, who benefits from the property.

There are various 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 instance, the trust could be set up so the beneficiary can only use the money in it for education.

Because you, as the trustee, can decide 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 Brookline, MA Trust

To set up a legitimate trust in Brookline, Massachusetts, 4 elements are necessary. First, the trust must have a stated purpose, and this purpose must be precisely laid out in the documents that formulate the trust.

Second, the trust must further 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. Nonetheless, if the person(s) meant to benefit from the trust do not yet exist, they can still be legitimate beneficiaries, as long as they are part of an identifiable class of people, and can be easily identified if they are born. For instance, you could set up a trust to benefit your grandchildren, even if you don't really have any grandchildren yet.

Lastly, and perhaps most especially, the trust requires a "body." The body of a trust is the thing (normally, but not always, money) that is really being held in trust, and therefore overseen by the trustee, and utilized to help the beneficiary.

Can A Brookline, Massachusetts Trust Drafting Attorney Help?

While the elements of a valid trust are fairly simple and easy to remember, drafting a trust that is sure to be carried out according to the wishes of the person making it can still be complex. For that reason, a good Brookline, Massachusetts attorney experienced in estate planning and the drafting trusts may prove invaluable.

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

Life in Brookline

Brown Deer is a village in Milwaukee County and was formerly a part of the town of Granville. Brown Deer officially incorporated on January 20, 1955 and is home to 13,000 Wisconsin residents. The village covers a total of 4.4 square miles and plays host to a large population of Caucasians and African-Americans over half of whom are married. The village is one of only two municipalities in Wisconsin that retains an African American population greater than 10%. and also plays host to a number of lawyers. Brown deer lawyers are familiar with local courts and procedures and use their experience when advising clients on the best course of action for their case.  

Brown Deer is popular among families because of it's great schools which include Deen Elementary School, Brown Deer Middle School, and Brown Deer High School. Formerly, Algonquin Elementary School was open on North 47th Street but closed because it could not compete with the newer Deen Elementary School. Brown Deer residents enjoy access to many nearby parks and shopping centers that also attract visitors from neighboring counties. Brown Deer also has an outstanding kids sports program for residents that offers baseball, soccer, and basketball among other sports.

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