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Massachusetts Trust Form

Massachusetts Trust Form

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greetings and welcome to this week's edition of smart Council for lunch I'm Suzanne sayward a partner at the Dedham Massachusetts law firm of Samuel sayward and Baylor where we concentrate our practice in the areas of estate planning elder law estate and Trust Administration and probate today I want to talk a little bit about using an irrevocable trust for gifting an irrevocable trust is a great vehicle to protect gifted assets from the creditors of the beneficiary from the beneficiaries poor decision making to allow the grantor the person who creates the trust and gifts to it some continued control over the gifted assets and for preserving family wealth it works like this say I want to make annual gift gifts to my young child or young grandchild I could do that via a uniform transfers to minors act account sometimes called an Atma or an agma account however if I make these annual gifts from the time that the beneficiary is very young then the amount of money in the acc

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