Bucks County Revocable Trust
Posted on Mon Jul 1, 2024, on Revocable Trusts and Living Trusts
From Our “Ask a Question” Mailbag: “How do I make giving my kids my land at my death as easy as possible? I live in Doylestown, Pennsylvania, and own a rental property in Chalfont, Pennsylvania. Avoiding probate at my death sounds good, but I want to manage my property until my death. I am not interested in giving things away while I am alive. Would a Bucks County Revocable Trust help me to avoid probate?”
Bucks County Revocable Trust Attorney, Peter Klenk
Using Revocable Living Trust in Bucks County (or anywhere else).
Forming a Bucks County Revocable Trust may seem daunting if you are unfamiliar with trusts. Don’t worry; we simplify the process. Our Bucks County Revocable Trust Lawyers have been forming Bucks County Revocable Living Trusts for over 25 years. It’s What We Do!
If your goals are avoiding probate and transferring your assets as easily and inexpensively as possible, then a Revocable Living Trust sounds like a good fit. A well-crafted Revocable Living Trust will avoid probate at your death but allow you to enjoy and control your assets during your lifetime precisely as you have described.
The first step is to draft a trust for you. Once you sign this Trust, we can file deeds transferring ownership of all your real estate from your name to the Trust’s. So, yes, the Trust will own your real estate. But don’t worry; you are the Trustee, and the Trustee controls the real estate. You are also the Trust’s beneficiary, so you can spend the money on yourself and live in the properties. The Trust owns the assets, but this fact has little effect on your day-to-day life.
How Does a Bucks County Revocable Trust Avoid Probate?
If you should die without a Bucks County Revocable Trust, the terms of your Will divide your assets. To use a Will, your Executor must file a petition with the Bucks County Register of Wills and pay a hefty fee, which delays obtaining control over your assets. These delays can be a problem, especially if you have rental properties, as until the county recognizes the Executor, no one has legal authority over the tenants.
A Revocable Trust avoids all of these steps.
Remember, at your death, the TRUST will own your house and bank accounts. Not you. So, when you die, the owner of the assets doesn’t change. The Trust is just fine. The person who has control over your house and rental property is the Trustee, and, at your death, your successor trustee immediately takes over; there is no need to involve the county. So, without delay, your successor trustee can secure the house, access your bank accounts, and have legal authority over any tenants. Easy! Your Trustee can accomplish these tasks from anywhere on Earth. Your successor trustee can take control after your death from a beach in California; there is no need to appear in court or at the Bukc County Register of Wills.
How Do You Create a Bucks County Revocable Trust To Avoid Probate?
The Doylestown, Pennsylvania, Law Office of Klenklaw has been creating Bucks County Revocable Trusts for over 25 years. If a Revocable Trust is the right choice for you, we can incorporate it into your comprehensive estate plan.
If you want to start the process now, follow this link: contact our office.
Our system makes this process easy for you. We start the process with a free consultation. You provide us with information about your assets and goals, and we brainstorm together to arrive at the best possible plan. If this includes a Bucks County Living Trust, we draft the document and deed to move your house into the Trust. You come to our office to sign, and we file the deed. That is it! Simple.
There is no annual filing fee or extra tax return; a Bucks County Revocable Living Trust can be relatively simple and inexpensive.
To learn more, follow this link to my Revocable Living Trusts All You Need To Know article.
In Conclusion, Bucks County Revocable Trusts are Useful Tools.
Would you like more details about probate? Follow this link to my article, Probate: Everything You Need to Know.
I hope you found this short article about Bucks County Revocable Trusts helpful. I have also included some links for more detailed information. Contact us if you want to know more or have an estate that needs our help. Let our Probate and Estate Planning lawyers help walk you through what can be a confusing process. Feel free to contact our office for a free consultation. It’s All We Do:
Wills, Trusts, Probate, and Estate Litigation!
It’s What We Do!
Peter Klenk, Esq. Pennsylvania Probate Lawyer, New Jersey Probate Attorney
