Avoid Living Trusts
Revocable trusts have become increasingly popular as substitutes for Wills in Estate Planning, most notably in light of the fact that people are informed that they need to “avoid Probate.” As Pennsylvania is a very “probate friendly” state (as opposed to other states, such as California), “Living Trusts” do:
- Not save tax (and often, unnecessarily, increases it);
- Not save fees (and often, unnecessarily, increases it);
- Not save time (and often, unnecessarily, increases it);
- Not save costs (and often, unnecessarily, increases it); and
- Not save aggravation (and often, unnecessarily, increases it).
