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Control Assets For Future Generations
A trust is a legal arrangement that lets you control how certain assets are managed during your lifetime and also how they are distributed after your death. Trusts can provide many valuable benefits, including:
- protecting assets over the long term from creditors and divorce
- avoiding probate of your estate
- minimizing estate administration costs and maintaining privacy for your estate and heirs
- minimizing gift and estate taxes
- qualifying for Medicaid while preserving your family assets
- protecting your heirs from their own poor money choices after you’re gone
- providing instructions for the handling of your property if you become incapacitated
Any type of asset can be placed into a trust, including cash, investments, personal property, and real property such as a family home or investment property.
There are many different types of trusts that can be used to help you reach virtually any estate planning goal, but creating a trust is not a do-it-yourself project. There are many state, federal and tax laws to take into account when establishing a trust, so it’s important to work with an experienced trust lawyer who can guide you through the various types of trusts and then create a legally sound trust to meet your needs. Get in touch with our Pennsylvania lawyers for estate plans for more information today, to create a trust for future generations.
We Handle a Broad Range of Trusts, Including:
- Revocable Living Trusts
- Irrevocable Trusts
- Medicaid Asset Protection Trusts
- Special Needs Trusts
- Charitable trusts
- Life Insurance trusts
- Spousal Trusts
- Trusts for Business Interests
- Trusts for Beneficiaries under 21
- Trusts for Blended Families