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One of your beneficiary rights in Massachusetts is the right to receive an accounting of the trust at least annually. This report can be formal or informal, but the trustee must provide annual updates about the trust's current assets and value.
A certification of trust provides information regarding the settlor of the trust, the acting trustee, and the power and authority of the trustee to manage and invest trust property or to act with respect to a specific transaction.
Sign your living trust: This must be done in front of a notary public.
The Massachusetts living trust form is a legal document wherein a Grantor signs all of their assets over to a trust, which, in the event of their death, will be transferred to a designated Beneficiary.
Once you send your written demand to the Trustee, the Trustee has 60 days to provide you with a copy of the Trust. Your written request may prompt a trustee to do the right thing by sending you a copy of the Trust.
The purpose of the trust and the powers of the trustee are set out in a document called a Declaration of Trust which may be recorded at the registry of deeds.
The terms of the trust, assets, and beneficiaries are not made public, in contrast to a will that is filed with a court and becomes public. Your living trust does not allow to avoid estate taxes. Massachusetts taxes estates worth more than $1 million and the federal government taxes those in excess of $5 million.