The subject of trusts in Pennsylvania can engender discomfort among attorneys since an unskilled drafting of a trust provision can lead to liability and strife within the family you intended on assisting. This strife can last for years and even generations.
Any attorney offering estate planning services should be aware of the risks, the benefits, and the family structure involved in trust drafting. This overview will cover the world of trusts from the point of view of practicing attorneys and corporate trustees.
ABCs will examine the following:
- What is a trust?
- When and how should a trust be used?
- Irrevocable vs. Revocable Trusts
- Grantor vs. Non-Grantor Trusts
- Drafting the trust document - and tips for avoiding common errors
- Trust modification - Living with the trust you created
- Understanding the family unit and how a trust can disrupt family harmony
Recorded in March 2024.