When you are preparing for whatever the future might hold, it’s important to work with a professional. Estate planning can be very complicated and intimidating, and the stress involved can be compounded by all of the emotions that you might be feeling. When you are looking through the various estate planning options available to you and your family, you should work with a lawyer to ensure that you are fully prepared. Working with a professional for your trust planning in Harrisburg, PA will help you feel confident that you are ready for the future and that your loved ones won’t need to put their grief aside to take care of the extensive probate process.
At Bellomo & Associates, we have years of experience working with clients just like you to complete the estate planning process as thoroughly and efficiently as possible. We have experience in the best ways to protect your assets, avoid probate, and give you the peace of mind that you deserve. How can our team help you complete your estate and trust planning with ease?
What Are Trusts? Are They Different from Wills?
Many people unintentionally use the terms wills and trusts interchangeably. While they can both be part of your estate planning process, there are distinct differences that can make some of them more appropriate than others in specific situations. Wills are a way to capture your wishes and what you would like to happen after you are gone. Wills are a great place to also outline your preferences for a variety of things, like what you want to happen during your funeral or who you would like to get guardianship of your minor children.
In the state of Pennsylvania, people who die without a will or trust planning in Harrisburg, PA will have their estates distributed based on intestacy laws. These laws create a will for you, which means that your wishes might be carried out, but assets could also be given to estranged family members or relatives who you otherwise would have excluded.
Trusts are not the same as wills, and they are highly customizable depending on your needs when you work with a professional for trust planning in Harrisburg, PA. Trusts form a fiduciary, or legally-binding, relationship between the trustee (an attorney or someone named in the trust) and the trustor (you or the person making the trust). The person that you designate as a trustee will be able to distribute your assets when you are no longer here. When you complete trust planning, you can also attach conditions to the money or asset, like being married or turning 18.
Beyond traditional trusts, you can also create a living trust. This type of trust goes into effect during your lifetime, not after it, and can be created during your trust planning in Harrisburg, PA. Trusts allow your loved ones to avoid the probate process and asset distribution to start almost immediately.
What Are Some Advantages of Creating a Trust for Pennsylvania Residents?
One of the largest reasons why people engage in trust planning in Harrisburg, PA is to avoid the need for the probate process. Probate can be very expensive and drag on for months, which means that the entire family will be prevented from receiving a resolution as soon as possible. When you create a trust, you will have complete control over what happens to your assets and the peace of mind that everything is taken care of.
Where Can I Find Experienced Trust Planning in Harrisburg, PA?
Bellomo & Associates, LLC is proud to be an experienced resource for trust planning in Harrisburg, 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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