Planning who gets your estate upon your death can be a complicated experience for those involved. Setting up the last will provides clear instructions for your death, but assets bequeathed in this way are subject to probate court — which can make the transfer process longer and costlier. Streamline process and save the value of your property with the help of the Law Offices of Kelton M. Burgess, LLC. As your trust planning lawyer in Pittsburgh and Butler County, Pennsylvania, we work with you to establish living trusts that appoint beneficiaries to your hard-earned assets. From setting up the entity to appointing trustees, we allow you to maintain control over what you own.
Why You Should Start Living Trusts
A trust lawyer can help you establish and set up your own trust. Trusts are legal arrangements where designated individuals, known as “trustees,” hold title to the property for a beneficiary. Assets, including land, can be attributed to a trust. Furthermore, the owner of the trust can still be named as a trustee, as long as he or she is alive. Within the law, a trust is considered its own entity, and therefore property held in trust is not subject to probate. That is because property in the trust is already owned. Terms within your trust can outline new trustees should current members pass away.
For estate planning purposes, living trusts are useful tools for passing on your assets in the event of your incapacitation or demise. A trust is private, and therefore cannot be made public through the courts.
This allows you to avoid conflicts with spouses or family members who do not get along. Since beneficiaries will already be defined in your trust, you are able to greatly reduce complications when it is time to transfer property through this document. Simply put, trusts allow beneficiaries to save time, money, and the emotional distress caused by problematic wills.