Massachusetts General Laws ch. 190B sec. 5-426 – Preservation of estate plan; right to examine
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Section 5–426. [Preservation of Estate Plan; Right to Examine.]
Terms Used In Massachusetts General Laws ch. 190B sec. 5-426
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Contract: A legal written agreement that becomes binding when signed.
- Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).
In (i) investing the estate, (ii) selecting assets of the estate for distribution under subsections (a) and (b) of section 5–424, and (iii) utilizing powers of revocation or withdrawal available for the support of the protected person and exercisable by the conservator or the court, the conservator and the court shall take into account any estate plan of the protected person known to them, including a will, any revocable trust of which the person is settlor, and any contract, transfer, or joint ownership arrangement originated by the protected person with provisions for payment or transfer of benefits or interests at the person’s death to another or others.