Trusts Aren’t Just for the Wealthy: Why Every Family Should Consider One
Trusts Aren’t Just for the Wealthy: Why Every Family Should Consider One
Think trusts are only for the ultra‑rich? Think again. Discover how a living trust can protect your family, save on probate costs, and simplify estate planning in Pennsylvania and West Virginia.
What Exactly Is a Trust?
A trust is a legal arrangement that holds your assets (like a home, savings, or investments) for the benefit of your chosen people—your beneficiaries.
- You (the grantor) create the trust.
- The trustee manages the assets according to your instructions.
- Your beneficiaries receive the assets under those terms.
The most common everyday option is the revocable living trust, which you can change or revoke anytime during your lifetime.
Top 5 Reasons to Consider a Trust—Even If You’re Not “Wealthy”
- Avoid Probate. Probate can take months and cost thousands. A properly drafted trust keeps your estate private and out of court.
- Plan for Incapacity. If you become ill or unable to manage finances, your successor trustee can step in seamlessly.
- Protect Children or Beneficiaries. Control when and how your children receive an inheritance.
- Simplify Multi‑State Property Transfers. Own property in both Pennsylvania and West Virginia? A trust can prevent multiple probate cases.
- Save Time and Money for Loved Ones. The peace of mind alone is often worth it.
Trusts vs. Wills: Which One Do You Need?
Think of a will as directions for the court. A trust is a private instruction manual your family can follow immediately. Most families benefit from having both—a will for backup and a trust for control and privacy.
Common Myths About Trusts
- “Trusts are only for the wealthy.” False. They’re for anyone with property, kids, or privacy concerns.
- “Trusts are too expensive.” False. A tailored plan can fit your needs and budget.
- “Trusts are complicated.” False. Your attorney handles the heavy lifting.
How to Get Started with a Living Trust in Pennsylvania or West Virginia
- Meet with your estate planning attorney to clarify goals.
- Draft and sign your trust document.
- Transfer key assets into the trust (your attorney will guide you).
Everyday Legal Advice: Build a Trust That Fits Your Life
You don’t need millions to plan wisely—you just need guidance. We help families across Pennsylvania and West Virginia set up trusts that actually work for real life.
*Disclaimer: The advice provided is for informational purposes and is not intended as legal advice. It should not be relied on, nor construed as creating an attorney-client relationship.