Erie, Pennsylvania, Trust Attorney
Trusts are a key component of estate planning. With over 30 years of legal experience, I, Alan Natalie, can create trusts that provide security and peace of mind for you and your loved ones.
Far from a luxury item, a trust can be a strategic way to protect your assets and ensure your wishes are honored. If you live in Erie or anywhere in Erie County, I invite you to contact me for a free consultation. You can reach me by phone at 814-616-3805 or by email to discuss your estate planning needs and explore your trust options.
What Are The Benefits Of Creating A Trust?
Trusts may offer a number of advantages, depending on your goals. A trust creates a legal entity that owns whatever assets you fund it with. It is managed by a trustee on behalf of your chosen beneficiaries. This structure provides several key benefits.
By placing assets in a trust, you can shield them from certain creditors. Trusts can also help your family avoid probate when you die. That could mean shielding your family from what can be a lengthy and costly process.
Importantly, trust assets are also exempt from consideration when it comes to qualifying for certain government benefits. For example, a special needs trust could allow a loved one on Social Security Disability to have some extra help related to their disability. Another example is Medicaid eligibility – a trust could allow you and your spouse to retain some assets while still qualifying for Medicaid if you need a nursing home.
What Are The Most Common Types Of Trusts In Pennsylvania?
There are several types of trusts that are commonly used in Pennsylvania, and this is not an exhaustive list:
- Living trusts: This type of trust allows you to manage your assets during your lifetime and distribute them after death without probate, offering privacy and efficiency.
- Testamentary trusts: Created through a will, these trusts are established upon your passing to manage assets for beneficiaries, ensuring they are cared for as you intended.
- Special needs trusts: Designed to support beneficiaries with disabilities without affecting their eligibility for government benefits, these trusts provide essential support and security.
- Charitable trusts: These trusts allocate assets for charitable purposes, providing tax benefits and supporting your philanthropic goals while making a positive impact.
- Irrevocable trusts: Once established, these trusts cannot be altered, offering protection from creditors and estate taxes.
I have the experience needed to guide you through choosing and setting up the right trust for your situation.
Why Should You Hire An Attorney To Establish Your Trust?
Creating a trust using online forms is risky. You may not know during your lifetime if your trust is valid. When it comes time to pass on your assets, it could be too late to correct any defects. Each trust type has unique requirements, and a cookie-cutter approach generally fails. My experience and skill can ensure your trust is legally sound and functions as intended, giving you peace of mind.
Set Up A Free Consultation About Trusts Today
With over 30 years of experience in trust planning and administration, I am ready to assist you. Contact me today at 814-616-3805 or by email to arrange a free consultation.