Sullivan, Williams & Quintin
Estate Lawers in New Bedford
Street Address: 651 Orchard St, New Bedford, MA 02744
Phone Number: 508 992 7911
Web Address: http://www.swqlaw.com
About the Law offices of Sullivan, Williams & Quintin in New Bedford
Sullivan, Williams & Quintin is a firm specializing in real estate conveyance and mortgage lending services. They represent buyers, sellers, refinance borrowers and lenders in all of their real estate and mortgage transactions in the Greater New Bedford Area. Sullivan, Williams & Quintin work closely with their clients, being responsive to changing circumstances and to difficult time requirements, to ensure that the needs of both their clients and their customers are met.
Their New Bedford office facility offers easy accessibility from all parts of the state with ample parking on-site to accommodate our clients. Naturally attorneys Sullivan, Williams & Quintin are also prepared to close outside their New Bedford law office in order to accommodate their clients’ needs. They are approved attorneys for many lenders and are title insurance agents for the top title insurance companies. Most importantly, as a result of their expertise and efficiencies, Sullivan, Williams & Quintin are able to provide these services at competitive fee structure.
Sullivan, Williams & Quintin offers a full range of trust and estate services to their clients in New Bedford to preserve the wealth of their clients and to enable their clients to pass assets to beneficiaries in the most appropriate and tax-effective manner. The attorneys at law provide thoughtful and comprehensive advice to a variety of clients from different backgrounds and with different needs.
From the young couple with their child in need of a simple will, to estate planning for small business owners, they offer experience in all aspects of trust and estate law. The attorneys in their New Bedford office can draft wills and trusts, cover planning and preparation of both simple and sophisticated estate plans, handle administration and settlement of estates, tax planning, advice, and opinions on related issues as well as Medicare planning. They work with their clients to provide a solution best suited for their situations at reasonable prices.
Areas of Practice: Real Estate & Mortgage Lending Services, Estate Planning, Trust & Estates
Protect Your Estate with Wills and Trusts
There are many varieties of wills and trusts that exist and it is important to understand how each may affect your desired goals.
- The basic will:This document is simple and basic. It generally provides everything be transferred from one spouse to another in the event of death. This is often referred to as a “sweetheart will”
- The pour over will:This will is used in conjunction with a “living trust.” This allows for any specific asset not mentioned in the will to “pour over” into the trust and to be distributed as the trust dictates.
- The will and contingent trust:A common approach is for spouses to leave assets to one another and in the event of no surviving spouse, the trust steps up and gains control of the assets. This approach may benefit the situation where minor children are the survivors.
- A-B, Credit Shelter Trust will: This will allows for the creation of a trust to eliminate taxation on the first death of a married couple. The assets are placed in a credit shelter trust and are still available for the use of the surviving spouse. The beneficiaries of the trust are generally the heirs of the marriage.
- Testamentary trust:This trust is established at the death of the person who created the will. This type of trust can be used to care for minor children or to establish a gifting scenario. The trust does not begin until the will is enacted.
- QTIP trust:This type of trust (qualified terminable interest property) is used primarily in a second marriage situation. It is used to create income for a period of time (lifetime) and then is dissolved to the beneficiaries of the trust at death.
- ILIT trust: An irrevocable life insurance trust is used as a receptacle for creating a life insurance policy and proceeds. Normally the ILIT trust is outside of the estate of the grantor and thus not included in the calculation of overall estate tax liability. At death, the funds from the insurance policy are paid to the trust and then distributed to the beneficiaries of the trust tax free.
- Living Trust:These vehicles allow for the advance planning of asset transfer for anything requiring a new deed or title. Assets held in the trust are pre-sigend and held until the death of an originator of the trust. At that time, the deeds and titles are simply recorded. A living trust will normally avoid any need for probate.
For more information about what is involved in estate law, including setting up your own will or trust, contact a New Bedford Estate attorney like Sullivan, Williams & Quintin today.