Trusts Attorneys in Fall River, Massachusetts

You've worked hard for decades to accumulate assets, provide for your family, and build a legacy that will benefit your loved ones for generations. But have you thought of a plan to protect everything you’ve worked your entire life to achieve? If the answer is “yes,” then your plan probably involves a trust – if it doesn’t, we strongly recommend creating one.  

A trust allows you to have greater control of your legacy during estate planning. With over 25 years of combined experience, our attorneys at Coastal Legal Affiliates, P.C., have helped hundreds of people establish trusts for a variety of purposes.

We understand that everyone’s needs are unique, which is why we strive to create customized plans for every client. Schedule a consultation with our trust attorneys in Fall River, Massachusetts, to discuss your specific situation.  

Reasons to Set Up a Trust

A great thing about trusts is that they are flexible and customizable, which means nearly everyone can benefit from setting one up. Speaking from our more than two decades of experience, we've noticed that some of the most common reasons people establish a trust is to achieve the following:  

• Avoid probate 

• Keep their assets out of the public eye 

• Minimize estate taxes 

• Make provisions for family members with special needs 

• Make provisions for family members who are unable to manage finances responsibly 

• Protect assets from creditors and lawsuits 

These are just some of the most common reasons people seek our help with preparing trusts. Not sure if setting up a trust would help achieve your specific objectives? Schedule a consultation with our Fall River trust attorneys to find out. 

Common Types of Trusts

If you've been considering setting up a trust to secure your assets, ensure your loved ones are cared for, or support a cause dear to your heart, you need to choose a trust that’s appropriate for your specific circumstances. Some of the most common types of trusts that you can choose from include:  

• Revocable trusts. A revocable trust allows you to retain control over your assets during your lifetime. You can amend or revoke the trust at any time, making it a popular choice for those who enjoy flexibility and adaptability. Setting up a revocable trust involves creating a trust document, naming a trustee, and transferring assets into the trust. While you can serve as the initial trustee, it's essential to name a successor trustee who will manage the trust upon your incapacitation or death.  

• Irrevocable trusts. An irrevocable trust, unlike a revocable trust, cannot be altered or revoked once it is established. This type of trust is often used for tax planning and asset protection purposes, providing a way to transfer assets out of your estate. Creating an irrevocable trust requires careful planning and consideration, as it involves permanently giving up control over the assets placed in the trust.  

• Special needs trusts. A special needs trust is designed to provide for the care and support of a person with disabilities without affecting their eligibility for government benefits. This type of trust can be established by a parent, grandparent, guardian, or court. To set up a special needs trust, you'll need to create a trust document that outlines the terms and conditions of the trust. The trust must be carefully drafted to comply with legal requirements and avoid disqualification from government benefits.  

• Spendthrift trusts. A spendthrift trust is designed to protect beneficiaries who may have difficulty managing finances on their own. This type of trust restricts the beneficiary's access to the trust assets, providing a controlled distribution over time. Establishing a spendthrift trust involves creating a trust document that limits the beneficiary's ability to transfer or assign their interest in the trust assets.  

• Testamentary trusts. A testamentary trust is created through a will and takes effect upon the death of the testator (the person who made the will). This type of trust is often used to provide for minor children or other beneficiaries who require ongoing management of their inheritance. To set up a testamentary trust, you'll need to include specific provisions in your will that outline the terms and conditions of the trust. The trust will be subject to probate and must comply with state laws.  

• Charitable trusts. A charitable trust is established to benefit a charitable organization or cause. Creating a charitable trust involves drafting a trust document that outlines the terms and conditions of the trust.  

These are just a few types of trusts you can choose from. At Coastal Legal Affiliates, P.C., we understand that it’s easy to get overwhelmed by the different types of trusts available to you. That’s why our Massachusetts estate planning attorneys are here to guide you in choosing and setting up the right trust that aligns with your needs and goals.  

Why Choose a Fall River Trusts Attorney at Coastal Legal Affiliates, P.C.?

For decades, Coastal Legal Affiliates, P.C., has been a go-to law firm for estate planning services for thousands of people in Fall River and the surrounding area. We believe the following qualities and features make us stand out from our competition:  

• Case assessment. When you call our office, we will listen to your concerns and provide you with guidance during a case consultation.  

• No hidden fees. We are 100% transparent with our clients regarding our fees.  

• Great experience. Our more than two decades of experience make us uniquely equipped to offer a high level of representation.  

• Customized solutions. We don’t believe one-size-fits-all solutions are appropriate for estate planning. We aim to help you create customized trusts that are tailored to your unique needs and objectives.  

• Highly responsive. We strive to be available whenever our clients need us. We will return your call as soon as we can to respond to your inquiries.  

• Client-focused. Unlike other law firms, we don’t view our clients as case numbers. Our approach to handling estate planning matters combines professionalism with a personal touch. 

Many of our clients have been with us for years and even decades, and we regularly receive calls from people who say, “I’m calling you because my relative/friend/colleague/etc. recommended your law firm.” This serves as a testament to our unwavering commitment to providing quality client service.  

Trusts Attorneys in Fall River, Massachusetts

At Coastal Legal Affiliates, P.C., we understand the unique challenges of estate planning. Our Fall River trust lawyers have a deep commitment to personal service and developing long-term relationships with our clients. A trust is not a “set it and forget it” type of thing; it needs to be regularly reviewed and updated to reflect your current situation.

With an office in Somerset, we serve clients in Fall River and throughout Bristol County and Plymouth County, including Swansea, Freetown, Berkley, Lakeville, Dartmouth, and surrounding areas. Get in touch today to schedule your case assessment.