Why Would I Want a Revocable Living Trust in Pennsylvania

Download Why Would I Want a Revocable Living Trust in Pennsylvania

Post on 30-Jul-2015

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1. A r__-_ H I. _{ WHY WOULD I WANT A REVOCABLELIVING TRUST IN PENNSYLYANIA? 2. ASSET TRANSFER METHODS 3. Many people assume that they should use a last will as an asset transfer vehicle 4. A will could be the right choice for you,but you have other options 5. ESTATE ADMINISTRATION 6. Your family could encounter some difficulties if you use a last will to transfer assets 7. Before inheritances are distributed, the will would be probated after you die 8. The probate court would supervise the administration of the estate 9. PROBATE PROCESS 10. The probate process provides oversight,but there are some drawbacks 11. Probate can be quite time- consuming,and there are expenses that go along with the probate process 12. Money that is spent during probate would have otherwise gone to the heirs 13. REVO CAB LE LIVING TRUSTS 14. If you were to create a revocable living trust,you would overcome these drawbacks 15. After you pass away,the successor trustee that you choose would distribute assets to the beneciaries 16. These distributions would not be subject to the probate process 17. ONGOING CONTROL 18. You don't have to worry about losing control of assets that you convey into a revocable living trust 19. You can act as the trustee and the beneciary at first,and you could revoke the trust if you wanted to so 20. INCAPACITY PLANNING 21. Many people become incapacitated late in their lives 22. To account for this,you could empower the successor trustee to administer the trust in the event of your incapacitation 23. SCHEDULE A FREECONSULTATION 24. If you are interested in creating a revocable living trust,contact our firm to schedule a free estate planning consultation 25. Attorneys at Law(215)322-6330 Pennsylvania-Estate-Planning. com

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