Contact Us
McMorrow Law, LLC
Speak With One Of Our Attorneys Today.
412-407-2816 | 724-940-0100

Using a trust in Pennsylvania

There are many different reasons to include trusts in an estate plan. These legal documents can be utilized to protect funds from the creditors of recipients and from being split up during a divorce. A trust could also manage and regulate investments and spending so that beneficiaries with faulty judgment may not squander the assets. Furthermore, trusts can hold assets that will serve as financial support should a settlor become incapacitated, hold life insurance policies and manage funds that can't be easily divided.

An estate owner can structure a trust so that it can help them achieve their particular goals while also providing the mechanisms for the trustee to address those goals among certain economic and investment factors. During the structuring process, it's important to determine if the trust should be funded immediately, over a certain period of time or upon the death of the settlor.

One common solution is to create a revocable or living trust, which is not funded until the death of the settlor. A revocable trust will include the settlor's instructions for how the estate is to be divided among surviving loved ones. It will also specify how each beneficiary's interest in the trust should be administered, regulated and distributed.

An estate planning lawyer may consider the goals of a client before recommending certain types of trusts. For example, some trusts can address the care of minor children or special-needs adult relatives or protecting assets. Assistance may be provided during the trust provision-writing process to ensure that the client's wishes are honored.

No Comments

Leave a comment
Comment Information
Email Us For A Response

Contact Our Firm for Free Consultation

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Wexford Office
10475 Perry Highway
Suite 204
Wexford, PA 15090

Phone: 412-407-2816
Fax: 724-940-0102
Wexford Law Office Map

Pittsburgh Office
301 Grant Street
Pittsburgh, PA 15219

Phone: 412-407-2816
Fax: 724-940-0102
Map & Directions