Choosing between a corporate trustee and a family trustee comes down to control, cost, and complexity. A family member may offer familiarity and flexibility, while a corporate trustee provides structure, continuity, and professional oversight.
The right choice depends on your assets, your family dynamics, and how long the
Transferring your home to your children during your lifetime can create tax and legal problems that outweigh the benefits, and in many cases, keeping the home in your name or placing it in a properly structured trust leads to a better result under Pennsylvania and federal tax rules. There are, however, situations...
Planning for a loved one with a disability often brings up difficult questions. How can you provide long-term financial support without putting government benefits at risk? Two of the most commonly used tools are Special Needs Trusts (SNTs) and ABLE Accounts. Each serves a different role, and understanding the differences can help...
Sometimes a last will and testament is not enough for your estate planning and you need more protection, control, and tax benefits than can only be provided if you set up a living trust. However, while many think a living trust only makes sense for high net worth individuals, it can provide...
If you are like most people here in Pennsylvania, you are going to be concerned about providing for your loved ones after you are gone. This is why estate planning is so crucial. You are going to want to make sure your estate has been set up in such a way that...
Transfer of estate assets can be complex. They can also incur taxes for your heirs, especially if the value of the assets are significant. This is especially true of residences here in Pittsburgh, where real estate prices have gone up quickly over the last two decades. Individuals who have more than one...
If you are like most folks here in Pennsylvania, you are going to want to be able to provide for your loved ones when you are gone. This is why it is crucial that you work with an experienced attorney to help you with your estate planning. It doesn’t matter if you...
When setting up a trust, you will decide what assets you want to place in the trust. However, you might wonder whether the law or other considerations prohibit you from placing specific types of assets in trust.
Understanding TrustsIn a trust, a party...
A breach of fiduciary duty occurs when an individual who is in a fiduciary position acts in a way that violates their duty to act in the best interests of another party, usually a client or beneficiary. In the cases of a trustee managing a trust, or an executor managing an...
When creating an estate plan in Pennsylvania, choosing the right type of trust is one of the most important decisions you’ll make. The key difference between revocable and irrevocable trusts is control: a revocable trust...
