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Experienced Trust Lawyers in Bucks County
People work hard to build their estates and it's only natural to want to protect them and see that they are passed on to loved ones appropriately. When people think of estate planning, most think of wills and nothing else. And while wills are valuable and time-tested tools for ensuring that assets pass on to the next generation, there are limits to what a will can accomplish.
Trusts can be used to address more unique situations or more complex goals. Trusts come in many varieties and can be carefully tailored to the needs of you and your family. They often serve as powerful supplements to wills.
Call (215) 750-0110 today for a FREE consultation, or contact us by email.
What is a Living Trust?
A living trust, also known as a revocable trust, is a legal entity that you create by a written agreement that describes how the assets owned by the trust will be distributed throughout your life and after your death. You may transfer all or some of your assets into the ownership of your living trust. You are usually the initial trustee who controls and manages those assets. You may amend or revoke the living trust, and you can move assets into and out of the trust at any time. Unlike a traditional will, a living trust does not have to be probated in order to distribute your property upon your death.
If you or a loved one needs to create a living trust, contact us today for a free consultation.
What Happens When a Trust Needs to be Contested?
If you believe that a loved one's revocable living trust is inaccurate or fraudulent or created under undue influence, you can choose to pursue legal action. Should you decide to take action, you will need to hire an attorney with experience handling trust litigation. At Begley, Carlin & Mandio, our attorneys will evaluate the circumstances surrounding the creation of the trust, discuss the likelihood of success, gather necessary evidence & information, and represent you in negotiations.
It's important to note that the statute of limitations in Pennsylvania is one year. In most cases, you have one year from the death of the grantor to take legal action.