Legal Question in Wills and Trusts in Massachusetts

Irrevocable family trust

What is the primary purpose of setting up an Irrevocable Family Trust?


Asked on 7/19/09, 6:08 pm

2 Answers from Attorneys

Alexandra Golden Golden Law Center

Re: Irrevocable family trust

There can be a number of purposes, including but not limited to protecting assets from creditors' claims and Medicaid planning. They can also be useful to minimize estate taxation.

Please feel free to contact me if you are interested in discussing these issues further.

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Answered on 7/19/09, 9:00 pm

Re: Irrevocable family trust

The primary purpose is to make certain bequeste permanent and to get certain assets out of the estate of the person making the gift to the irrevocable trust.

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Answered on 7/19/09, 9:36 pm


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