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Fegreus & Broderick

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Fegreus & Broderick, LLP

21 Custom House Street, Suite 480
Boston, Massachusetts 02110
t: (617) 737-9100 | f: (617) 737-9123
info@fegreuslaw.com

A living trust can do more than you might think. H A living trust can do more than you might think. Here are three goals it can help you accomplish to protect your assets and give you lasting peace of mind.

If you’d like to learn more about how a living trust could benefit you and your family, reach out today!
Many people wonder if creating a living trust comp Many people wonder if creating a living trust complicates their finances. 

The Grantor maintains full control over the trust during their lifetime, with the ability to change, add to, or even dissolve it at any time. 

The Grantor often serves as his or her own Trustee as well, at least initially. Consequently, the DOR and the IRS treat the trust as simply the alter ego of the Grantor and pay no attention to it. 

The trust’s tax ID can simply be the Grantor’s SSN and the trust does not file or pay its own taxes. It is only upon the death of the Grantor that the trust becomes irrevocable and takes on a legal identity (and therefore tax ID) of its own.

For most clients, then, the only difference in their day-to-day experience is that for accounts transferred into the trust, the word “Trustee” will appear next to the Grantor-Trustee’s name on statements and checks.
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