Purchasing real estate may be the largest and most important investment many people make in their lives.  Whether you are a first time home owner, or someone who counts multiple properties among your assets, protecting your investment through a realty trust may be a sound decision.
Property owners in Massachusetts have the opportunity to take advantage of a rare estate planning device, available uniquely in Massachusetts to homeowners. This device is called a Realty Trust and is a way of keeping your ownership private while providing some protections.
The trustee is the ‘nominal’ holder of the title to the property – that is, the trustee owns in name only, and the real owner is the beneficiary (or beneficiaries). Recording requirements in Massachusetts allow the property to be placed into a Realty Trust while not revealing in public records who the true beneficiary is.
A Realty Trust can be helpful if you own property with other family members who do not live in the area. A Trustee can execute mortgages, convey units, or even transform the building to condominiums – without having to run around and get signatures from all of the owners/beneficiaries. It can also help by providing protection from liability and creditors (liens or attachment). However, the protections are not comprehensive or absolute and so it is important to discuss all of the aspects of the Realty Trust – and your particular needs with an attorney.
At Kostas & Melcher Law, LLC, our experienced attorneys can assist you in drafting a realty trust instrument which will further your personal estate planning goals.  A Realty Trust can assist in protecting your home from creditors, ensuring a smooth transition of property assets to your heirs, as well as many other possible benefits depending on your unique, individual situation, needs, and goals.
Contact one of our experienced attorneys today to learn more about Realty Trusts and how they can be used as part of your Estate Plan.