MARK D. FREEMAN, ESQUIRE

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Be sure that your wishes are carried out

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REVOCABLE OR LIVING TRUST - DON’T GET SCAMMED


There are many attorneys and other professionals suggesting that a living trust will help you avoid probate, provide privacy for your estate and reduce the chances of litigation.  While there are some valid reasons for a revocable or living trust, my experience has been that many people come to me believing they need a living trust.  I will generally press you to explain why it is you believe you need a living trust.  A living trust will not save you inheritance taxes, and, in Pennsylvania, a living trust provides no privacy either.  The beneficiaries of a living trust can litigate every bit as much as the beneficiaries of a will, so a living trust provides no relief from the litigation issue either.  The Attorney General of Pennsylvania has characterized the promotion of living trusts in Pennsylvania as a “scam” on the elderly.  For more information about living trusts see the Attorney General’s website at http://www.attorneygeneral.gov/consumers.aspx?id=304


The foregoing is not to say there are not circumstances in which a living trust is not appropriate, however, you should clearly understand exactly what benefit a living trust provides before you move forward.  There are techniques to avoid probate that do not involve living trusts that can cost you absolutely nothing.  Avoiding probate does not avoid liability for inheritance and other death taxes and this is true with or without a living trust.  When you retain the Law Office of Mark D. Freeman, Esq. you will be advised on alternatives to living or revocable trusts which avoid also probate.

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The purpose of this site is to provide useful information about wills, estate planning and estate administration. It is not intended to provide legal advice.You should consult a competent estate planning and/or estate administration attorney before acting on any of the information contained on this site.