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Trust Planning Attorney York, PA
The estate planning process is emotional and complicated, but it is essential to plan ahead to avoid turmoil and the improper distribution of your assets when you are no longer here. Trusts are one of the most straightforward and versatile ways to prevent a long, drawn out probate process and protect your assets. They can also be used alongside other estate planning tools to prepare for anything that the future holds. Bellomo & Associates is a leading trust planning attorney in York, PA. Our compassionate team is here to help walk you through the trust creation process and ensure that your estate plan is right for your situation.
What Are Trusts? How Are They Different from Wills?
Wills and trusts are two different popular estate planning tools. Wills are legal documents that outline how you want your assets and personal property to be distributed to your beneficiaries. If there are minor children involved, the will is also where you will name your preferred guardian for the children and also designate someone to manage the assets that were left behind to those minor children. If you do not create a will, Pennsylvania law requires estates to be distributed in line with intestacy laws. This means that the state will create a will for you and divide your assets in accordance with it, instead of considering what your preferences and wishes might have been.
Trusts come in a variety of types, and every trust will create a fiduciary relationship between the trustor (you) and the trustee (the person you are naming). The trustee will gain the legal ability to control your property and assets on behalf of the beneficiary. Testamentary trusts can be used in conjunction with a will, but you need an experienced trust planning attorney in York, PA to design a trust that will properly look after your property and assets. With a trust, you can also incorporate conditions before the property or asset can be transferred. This means that you could require marriage or the beneficiary to reach a certain age before they can access the asset.
Another estate planning method you can utilize with your trust planning attorney in York, PA is a living trust. These trusts remain in effect after your passing but go into effect during your lifetime. These help to avoid the probate process, as long as you have the related property included in the trust before death. We can help you determine the right combination of estate planning tools for your situation.
What Are The Advantages of Creating a Trust in Pennsylvania?
A living trust is a fantastic way to make the distribution of your assets as simple as possible after death. As a seasoned trust planning attorney in York, PA, we partner with clients who are looking to ensure that their wishes are carried out properly and minimize stress for their loved ones. During the probate process, the court examines all of your estate planning documents. That should be simple, but in reality, it can be quite costly and drag on for months or years. By creating a living trust, you can streamline the process and get your assets into the hands of your loved ones as quickly as possible. Pennsylvania does not use the Uniform Probate Code, so your trust planning attorney in York, PA can create a trust for any size estate. We are here to help.
Where Can I Find a Trustworthy Trust Planning Attorney in York, PA?
Bellomo & Associates, LLC is proud to be an experienced trust planning attorney in York, PA. We know how stressful the estate planning process can be, so we simplify the process and work hard to get your documents prepared in an efficient fashion. We have assisted local residents in transferring their assets and completing the estate planning process for over a decade, and we work hard to keep our great reputation in the community. We are both compassionate and effective. To schedule your initial consultation or learn more,call us today at (717) 845-5390.
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