Living Trust Attorney York, PA
Bellomo & Associates, LLC
YORK LIVING TRUST ATTORNEY
With so many options for estate planning available, it can be challenging to know what is right for you. There are many different ways that you can guard your assets and make sure that they are quickly and easily received by the beneficiaries that you would like them to go to. One of the best options for many individuals and families is living trusts. Living trusts are different from other estate planning tools that will not be in effect until you are no longer here, and they are versatile enough to protect your assets and allow you the ability to revoke or alter them depending on your preferences. Bellomo & Associates, LLC is proud to be a trusted living trust attorney in York, PA.
What Is a Living Trust?
A living trust is a legal document that gathers up your various assets including vehicles, real estate properties, personal property, investments and bank accounts and places them into a trust. A living trust lets you specify what you would like to happen to these assets after death. As the name implies, revocable living trusts can be altered or canceled entirely at any point in your life, and you will maintain control of your assets until you are no longer here to do so. As part of your living trust, you will name a trustee who can act on your behalf after your passing. This person will be responsible for distributing your assets.
Why Do I Need a Living Trust Attorney in York, PA?
Some individuals choose to create a living trust to streamline the probate process and avoid the court system when distributing assets after death. If you have a will only, the estate planning process will include probate, which can be incredibly time-consuming and expensive. As part of the probate process, your estate will be valued, debts will be settled, estate taxes will be paid and assets will be transferred. The larger that your pool of assets is, the higher that the associated probate costs will be.
Additionally, living trusts extend you privacy that can’t be found during probate. Wills are treated as public documents, which means that people outside of your immediate family can view them, see your assets listed and contest them. If you are concerned about your privacy or interested in guarding some assets from public view, working with a living trust attorney in York, PA is a great idea. A living trust can be kept very private, and they are also generally much tougher to contest.
What Are The Advantages of Working With a Living Trust Attorney in York, PA?
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