We are a Veteran Owned Business, providing 20% discounts for Veterans, First Responders, Elementary and High School teachers. We remain open during the shutdown period, so please contact us to set up a phone or Zoom meeting. Taking care of you and your family, It's What We Do!

Skip to Content
Klenk Law

LGBT Revocable Trust and Probate Concerns in Bucks County

Posted on Tue Jun 9, 2015, on LGBT Estate Planning

From our “Ask a Question” mailbag: LGBT Revocable Trust and Probate Concerns in Bucks County

Most Recently Updated July 14, 2018.

“In preparation for my upcoming death, I have formed a Revocable Living Trust to make easier the transfer of my assets to my partner. I wish to avoid probate in Bucks County, Pennsylvania. I do have some legal claims against people who owe me money that may not be resolved before my death. Do I need a will?”

What-is-a-Complex-Trust

LGBT Revocable Trust and Probate Concerns in Bucks County

LGBT Revocable Trust and Probate Concerns in Bucks County

If properly formed and funded with all of your assets that would otherwise be probate assets, your thoughtfully planned Revocable Living Trust can avoid probate in Bucks County. However, if you have a legal claim at your death, that claim must be pursued by your Executor. Although it is possible to transfer your claim into the Revocable Trust, this is often problematic.

What Your Executor Will Need to Do

Under typical conditions, shortly after your death, your Executor would file your will and than have your estate take your place as plaintiff in any pending lawsuits. Because of this possibility, you should form a “Pour Over Will” and name your partner as Executor. This type of Will is rather simple, and only states that any Probate Assets collected after your death “pour into” the revocable trust. It then gives your named Executor the rights to gather these assets. This would include the pursuit of any remaining legal claims.

More Planning Questions?

The LGBT Revocable Trust and Probate Concerns in Bucks County is only a piece of the Estate Planning process. By all means, if you want to learn more, please read my more detailed article, Estate Planning Everything You Need to Know.

In Conclusion: LGBT Revocable Trust and Probate Concerns in Bucks County

I hope that this article was helpful in explaining LGBT Revocable Trust and Probate Concerns in Bucks County. Further, I included links to even more detailed information on my website so you can learn more. Therefore, please contact me and let me know how I did. Certainly, your comments and questions are welcome!

Let our Estate Planning lawyers help walk you through what can be a confusing process. To begin with, call to speak to one of our experienced estate planning lawyers.  By all means, our lawyers are ready to answer your questions. In fact, feel free to contact our office for a free consultation. Ultimately our goal is to make the process as painless as possible!

Wills, Trusts, Probate, and Estate Litigation, It’s All We Do!

 

Tags:

Bucks County, Estate Planning, Estate Planning Attorney, Estate Planning Lawyer, LGBT Estate Planning, Pennsylvania, Revocable Trust

What Our clients are saying

Klenk Law Logo
Stars

Peter Klenk ESQ is a thoughtful and capable attorney who we work with on estate planning issues. His firm recently provided us with new Wills, Power of Attorneys and our instructions regarding major health issues. These documents are important for estate and life planning. Peter and his team are masters in the complexities of Estate Law. We highly recommend Peter and his Associates to provide thoughtful advice and outstanding work on these complex issues of the law. Make sure your estate planning documents are up to date, and Peter can be relied on to do an excellent job. Well done Peter!

Klenk Law Logo
Stars

Always professional and very responsive. Everyone on the staff that I have worked with. I look forward to continuing our relationship.

Klenk Law Logo
Stars

Klenk Law is an exceptional practice. Their fine lawyers and staff team up to produce excellent results for their clients. They excel at explaining the often cryptic laws and policies that govern estate planning right down to the complexities of the various "trust" frameworks. Peter himself manages each client together with his great team, and he has a rare quality to be both a walking encyclopedia of planning minutia and also one of the most likable lawyers I have ever had the pleasure of dealing with. He is truly generous in intellect and in his personal approach to getting the "big picture" for complex family structures. I trust him implicitly to help me make the right choices for the future. In short, Klenk Law is a gem of a firm.

Klenk Law Logo
Stars

I met Peter soon after he started his practice in Philadelphia, PA. He and his team have always been there for me and my various inquiries throughout my life-changing events, corporate relocations. I have lived in various cities throughout the nation, I have never had a problem in contacting Peter or a member of his team. He and his office responds quickly and returns calls to me to fulfill my requests for information or to revise my estate needs while posing relevant thought-provoking questions that I need to consider to secure my future. One of Peter's best qualities is his ability to answer clients complicated questions in a simple way to ensure comprehension.

Klenk Law Logo
Stars

Peter recently gave a presentation about Wills & Trusts at my employer, and it was fantastic! He was extremely knowledgeable and provided valuable information to the group. People were very engaged and asked several questions, all of which Peter thoroughly answered. Personally, my husband and I have selected Peter to help us with our estate planning, and he has been very helpful in providing us with all of the information we need to provide a secure future for our family. Thank you, Peter!

Let us put our expertise to work for you.

Free consultation within 24 hours.