Braintree Estate Planning Attorney
While a will can be a useful part of an estate plan, it will provide protection for your children only in the event of your death. It does not provide guidance in the event of a disability or incapacitation. A trust can provide that protection and financial guidance in your place, if you become unable to provide that support yourself.
At the Gemma Law Office, we provide trusted estate planning guidance to parents from our office in Braintree, Massachusetts. Whether you need help setting up a trust or creating a will, we will guide you through your options and help you develop a plan that meets your needs and the needs of your children. To learn more about asset plans for children, contact attorney Anthony Gemma online, call 781-767-7363 or call toll free at 877-549-3746.
Creating a Trust to Provide for Your Children
Dividing your assets in a will may not always be fair to your children. If you split your assets evenly between your children, a younger child may need to use those funds for college, while an older child has already had the benefit of your financial help.
By creating a common trust, sometimes referred to as a pot trust or a trust fund, you can give a trustee discretion to distribute funds to your children as they need them, much as you would as a parent. If your child needs help paying for college, buying a car, making a down payment on a home or starting a business, the trustee can provide financial support using the trust funds.
Customized Trusts for Your Family
A trust can be customized to fit your needs. You can have the trust last until your youngest child turns 23, or any age that you feel is appropriate. Some parents set up a trust to make lump payments to children when they reach certain ages, such as 25, 30 and a final payment at 35. A trust can also last for your child's lifetime, if he or she has a disability, a drug abuse problem, gambling addiction or other special need. A trust can also be designed to let the child choose whether he or she wants supervision and professional guidance.
You can design the trust to have the degree of supervision you believe your child needs. Depending on the level of discretion, a trust can offer protection from creditors, protect assets in a divorce, and protect government assistance for disabled or special needs children.
Schedule a Free Consultation With a Lawyer
Make today the day you start planning wisely for the future. Contact us by telephone or e-mail to schedule a free initial consultation with attorney Anthony Gemma. Our Braintree office is easily accessible from Boston, as well as MetroWest and South Shore communities, and has free parking and disability access.
