Revocable Trust for Married Individual: Disclaimer Trust (Massachusetts)

This legal template pertains to a revocable trust designed specifically for married individuals residing in the state of Massachusetts, known as a Disclaimer Trust. A revocable trust is a legal vehicle wherein an individual, known as a grantor, transfers their assets into a trust during their lifetime. In this case, the focus is on married individuals who wish to establish a trust that offers flexibility, control, and protection for their assets.

The premise behind a Disclaimer Trust is to allow the grantor's surviving spouse the opportunity to disclaim specific assets or a portion of the trust property. By disclaiming these assets, the surviving spouse ensures that they do not become part of their estate, thereby potentially reducing estate taxes upon their own death or facilitating the transfer of those assets to other beneficiaries designated in the trust.

This legal template would outline the necessary provisions and clauses required to establish a Revocable Disclaimer Trust for a married individual residing in Massachusetts. It would include detailed instructions on how to set up the trust, designate beneficiaries, and specify the disclaiming process. Additionally, it would address various scenarios, such as the trust's dissolution upon divorce or the death of one or both spouses, and provide guidance on the distribution of trust assets accordingly.

Overall, this legal template serves as a valuable resource for married individuals in Massachusetts seeking to establish a flexible and tax-efficient revocable trust that allows for the potential disclaiming of assets, providing for an effective estate planning strategy suited to their specific circumstances.