In a long-term care crisis?
In a long-term care crisis?
Many people tell us they have heard they need a trust, but are unsure why. Perhaps a friend mentioned that their family avoided probate, or you came across an online article that suggested a trust is the only smart move. It is normal to feel unsure about whether a trust is the right fit for your situation or whether a will is sufficient.
At Sechler Law Firm, we use revocable living trusts in Cranberry Township as one tool in a broader estate planning conversation. We examine your family, assets, and goals, then explain in plain language how a revocable living trust works and when it makes sense. Our dedicated trusts attorneys handle estate planning and trust and estate administration daily, so we see both the planning side and what actually happens when a plan is implemented.
A revocable living trust is an agreement signed during your lifetime, where you transfer assets and appoint a trustee to manage them. Often, you serve as your own trustee while healthy, maintaining control, and naming backup trustees if you become ill or in the event of your death.
Because the trust is revocable, you can change, add, remove property, or cancel it while you have capacity. When you die, it usually becomes irrevocable, and the successor trustee follows your instructions. In Cranberry Township, a revocable trust often holds real estate, investment accounts, and other key assets, allowing the trustee to manage them without the need for probate.
The trust does not stand alone. Most plans pair the trust with a simple pour-over will that transfers any remaining assets into the trust upon death, along with powers of attorney and healthcare documents that address lifetime issues.
People are sometimes told that a trust is a magic solution that fixes everything. That is not true. A trust can be a powerful estate planning and probate tool, but it has its limitations.
A typical revocable living trust doesn’t shield assets from your creditors or protect your estate from nursing home costs or taxes. We often utilize additional elder law and asset protection strategies in conjunction with the trust for long-term care planning. The trust must be properly funded; if you don’t retitle accounts or deeds into it, your family might face probate.
Not every family in Cranberry Township needs a revocable living trust, but many benefit from one. The question is not “trust or no trust” in a vacuum. The better question is what mix of tools matches your situation.
If you own multiple properties, want to help out-of-town children, or have a blended family, a Cranberry Township revocable living trust lawyer might suggest using a trust as your main plan. If you’re mainly concerned about managing money for minor children or family members with special needs, a trust offers more control than a will. However, if your assets are small and your goals are simple, a well-drafted will and other documents may suffice.
The best way to decide is to sit with someone who listens first and explains the options, rather than starting with a form. We will review what you own, who you want to help, and your primary concerns about the future. Then we will honestly assess if a revocable living trust offers enough value to justify the costs for your family.
When we design revocable living trusts in Cranberry Township, we are not just filling in blanks. We are helping you decide who steps in if you get sick, how your family will work together after you are gone, and how to keep the process as simple as possible for the people you love.
If you are unsure whether a revocable living trust is the right fit for your plan, we’re happy to assess your circumstances. We can review your existing documents, explain how a trust might impact them, and help you select an option that aligns with your goals. To learn more and become familiar with these concepts before making a decision, attend an elder law workshop or contact us for a consultation.
