Pa Living Trusts

Avoid Pa Living Trusts

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).

Be extremely cautious of “Living Trusts” in Pennsylvania

He is a recipient of the Legum Magister Post-Doctorate Degree (LL.M.) in Taxation (from the Villanova University School of Law), a recipient of the American Jurisprudence Award in Wills, Trusts, and Estates, from the Widener University School of Law), and a recipient of the ABA-BNA Law Award for Academic Excellence (from the Widener University School of Law). Mr. Whalen has also been named as an “Awesome Attorney” in the field of Estate Planning Law for 2015, 2014, 2013, 2012, 2011, and 2010 (by the Suburban Life Magazine of the Philadelphia suburbs), as well as a “Top Attorney” for 2012 (by the Main Line Today Magazine of the Philadelphia suburbs).