Trust
World's Richest Cat Can't be "Trusted"
According to an article in The Guardian, “Tommaso, a four-year-old, one-time stray from Rome, is thought to have become the world’s richest cat.” We’ve seen cases like this before, but unlike Massachusetts, which allows residents to establish trusts for their pets before and after death, Italy does not. So in the case of Tommaso, the…
Read MoreNews Update: Trusts for Pets
Effective April 7, 2011, residents of Massachusetts may now establish pet trusts to care for one or more animals, living during the settlor’s lifetime. This trust now allows individuals to plan for and take care of their pets not only during their lifetime but also after their death. The court does retain the right to…
Read MoreSpecial Needs Trusts: The Basics
The basic definition of a special needs trust or supplemental benefits trust is any trust intended to provide benefits without causing the beneficiary to lose public benefits that they may be able to receive. Most commonly special needs trusts are intended to protect the public benefits of Supplemental Security Income and Medicaid. However, these trust…
Read MoreNo Contest Clauses (in terrorem clauses)
In Massachusetts, a no-contest clause is given full force and effect. Therefore, if the settlor so chooses, a clause can be included in a will to disinherit an heir who attempts to challenge the will’s provisions. But be aware: if a trust is set up, such a clause should be included in each separate document…
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