Enhanced will plans are best for young individuals & couples with children; or older individuals & couples with grandchildren they specifically wish to provide for. These do not provide asset protection or avoid probate but do provide a plan for how to distribute assets at death and simple trust provisions and also include essential documents like healthcare directives and a financial power of attorney. We offer in home consultations in New Castle & Hermitage, PA
A revocable living trust (RLT) is best for individuals or families who prefer to keep their assets private and out of the public eye. A revocable living trust will avoid probate, which is the process of going through the court system to distribute assets. Probate occurs publicly, which strips away privacy, and can also cost approximately 5-10% of the estate assets.
A base asset protection trust is the best way to protect your assets and your legacy from your creditors and predators including the nursing home and the Medicaid process. The average family spends over $250,000 in nursing home bills. An asset protection trust can prevent this from happening and ensure that the assets your spent your life earning do not end up going to the nursing home. An asset protection trust can also insulate you from lawsuits and complicated family dynamics.
An enhanced asset protection trust provides all the benefits of the base asset protection trust but includes several customizable add-ons such as: IRA asset protection, asset protection for your children, special needs planning for disabled family members, and more. This is the most flexible asset protection package. Contact us today to learn more about wills & trusts in New Castle or Hermitage, PA.