Legal Question in Wills and Trusts in Pennsylvania

the value of my husband and I estate is approximately $850,000. This includes property and money. (a few investment properties, primary residence and $200,000 cash/investments. Do we have enough to create a living trust. (this does not includes cars and furnitures.


Asked on 10/22/10, 7:35 am

1 Answer from Attorneys

Miriam Jacobson Retired from practice of law

The questions is, do you need a living trust? For most people, the answer is no. It doesn't have anything to do with the size of your estate.

You should be consulting a lawyer to help you carefully analyze your needs and goals. Probate is not so difficult or expensive in PA to warrant setting up a living trust. There are also costs and administrative paperwork required when you have a trust.

This response is not legal advice, since I do not have all of the information that would be required, and I do not have a representation agreement with you.

* If the answers to your question confirm that you have a valid issue or worthwhile claim, your next step should almost always be to establish a dialog with a lawyer who can provide specific advice to you. Contact a lawyer in your county or township.

* Another reason for contacting a lawyer is that it is often impossible to give a good answer in the Internet Q&A format without having more information. The unique circumstances of your situation and things that you may not have thought to mention in your question may completely change the answer. If you want to be sure that you have a complete answer to your question and an understanding of what that answer means, establish a connection with a lawyer who practices in the area of your concern.

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Answered on 10/27/10, 10:11 am


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