Trust funds are among the most beneficial and underutilized financial planning tools in Pennsylvania. Working with the Carlisle trust and estate lawyers at Mette Attorneys at Law now could set you up for a strong financial future. Discuss the benefits of trust and succession planning with our tax-savvy legal team today by calling (717) 232-5000 or schedule an estate planning consultation online.

Pennsylvania Trust and Estate Planning Solutions

Estate planning is a legal tool you can use now to help maximize tax benefits, protect your assets, and live comfortably in the future. Although it often involves considering the ‘worst-case scenario,’ everyone eventually benefits from strong estate planning. Our attorneys will analyze your estate, personal concerns, and financial goals to structure the best plan for your family. This often includes considering the following:

• Business succession planning
• Wills
• Trust funds
• Power of attorney
• Healthcare proxies
• Medicaid and long-term care planning

We can help protect your assets now to ensure health emergencies do not result in personal bankruptcy or unmanageable expenses.

Guardianship for Parents and Children

Both new parents and children with elderly parents should consider the benefits of preparing guardianship paperwork. Legal guardianship sets forth your wishes regarding the care of minor children, including any inheritance, in the event of your death or incapacitation. It can also be used if an elderly parent is suffering from a mental health condition, such as dementia, and you need to take control of his or her assets. Do not leave these delicate family matters to the court, especially if you’re an active-duty service member or suffering from a serious medical condition.

Understanding and Opening Trust Funds

Trust funds are a powerful tool that, if structured correctly, can protect your estate and family members from financial mismanagement. Pennsylvania recognizes various trust accounts, including the following:

Revocable Living Trusts

Also known as ‘living wills,’ you can open a trust account for yourself. This means transferring assets into the trust while remaining the sole trustee. When you pass away, these funds are automatically distributed to the beneficiaries without the need for probate. This allows you to bypass complicated family disputes and estate administration while immediately ensuring your loved ones receive needed financial support.

Special Needs Trusts and Planning

If you have a legally disabled parent or special needs child, Pennsylvania law allows you to establish a special needs trust. This ensures your child has access to resources to live comfortably without impacting his or her ability to obtain needed medical assistance, such as Medicaid. Special laws and provisions apply to these trusts, but they must be established before the beneficiary turns 65 years old.

Charitable and Family Trusts

Setting up trust funds now to benefit certain non-profit organizations or your children might have significant tax benefits. You can remain in control of distribution (and allow for revocation) even after transferring funds to the trust account. Our experienced Carlisle trust attorneys might help you set up specific trusts earmarked for certain charitable expenses, such as supplying the local church food bank and spendthrift trusts, ensuring your children do not mismanage their inheritance.

Trust and Estate Lawyers in Carlisle, PA

By engaging in estate planning now, you can save money and protect your family’s future. Discuss the benefits of opening a trust fund with the trust and estate lawyers at Mette Attorneys at Law by calling (717) 232-5000 or connecting with our estate team online.