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Trust Lawyers for State College, PA Residents

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A trust is a legal tool that enables you to control how your assets are managed and distributed during your lifetime and after your death. A properly drafted and funded trust can help your family avoid probate delays, protect beneficiaries, and create long-term financial stability.

At Kreisher Marshall & Associates, we can determine whether a trust fits your plan. Our trusted attorneys can help ensure that they align with your goals and protect what you’ve built.

What Exactly is a Trust?

A trust lets you transfer your assets to someone you trust, known as a trustee, who then manages those assets and uses them to benefit the people you choose, known as beneficiaries. You can serve as the trustee (while you’re alive) in many types of trusts. Trusts can be revocable (living) trusts, meaning you can modify them in your lifetime, or irrevocable trusts, meaning you can’t modify them. Each type of trust serves a different function.

Take note that a revocable living trustwon’t protect your assets from your own creditors during your lifetime or from the costs of long-term care. Because you retain control, those assets are generally still considered yours for creditor purposes. Protecting your property requires different estate planning strategies.

Avoiding Probate in State College, PA

Probate requires filing paperwork, inventorying assets, paying debts, and distributing property. While the process is structured, it can take months. However, assets properly titled in a trust generally pass outside probate. On the other hand, a trust only avoids probate if it’s properly funded. This means retitling real estate, updating financial accounts, assigning business interests, and coordinating beneficiary designations. An unfunded trust will not accomplish its intended purpose.

Protecting Your Minor Children and Vulnerable Beneficiaries

Trusts allow you to control when and how beneficiaries receive assets. You can structure distributions over time or for specific purposes instead of giving a lump sum. They can help:

  • Provide for minor children
  • Protect assets from mismanagement
  • Support a child with special needs
  • Safeguard inheritance from creditors in certain cases

Structured planning prevents sudden financial decisions that may not serve your long-term interests.

Planning for Your Long-Term Care and Asset Protection

Some irrevocable trusts can help preserve assets when planning for long-term care. Pennsylvania Medicaid guidelines include a five-year look-back period, so early planning is essential. Trust-based planning must follow strict legal requirements to remain valid.

Managing Your Business and Investment Assets

Trusts are also useful for individuals who own businesses, rental properties, or investment accounts. For instance, you can place your business interests into a trust to create a smoother transition plan and avoid interruption if you die or become incapacitated. Coordinating trusts with beneficiary designations and asset titles strengthens your overall estate plan.

What You Should Know About Inheritance Tax

The state imposes an inheritance tax on most transfers at death, including certain assets held in trust. The amount is based on the relationship between the deceased and the beneficiary. A trust will not automatically get rid of inheritance tax obligations. Proper planning, however, can help you and your family understand and prepare for these obligations.

What Our Trusts Attorneys in State College, PA, Can Do

Trusts must be carefully drafted and properly funded. At Kreisher Marshall & Associates, our trusts lawyers in State College, PA, determine whether a trust fits your goals and how it should be structured by:

  • Explaining the differences between revocable and irrevocable trusts
  • Drafting customized trust documents
  • Transferring assets into the trust
  • Coordinating trusts with wills and powers of attorney, including preparing a pour-over will when appropriate
  • Addressing long-term care planning concerns
  • Reviewing inheritance tax implications under PA law
  • Guiding trustees through post-death administration responsibilities
  • Updating trusts as laws and life circumstances change

Learn how our State College, PA, trust attorneys can assist you by calling Kreisher Marshall & Associates at 814-458-6294 or contacting us online for a confidential case evaluation.

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