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How to use or fill out Living Trust for Individual Who is Single, Divorced or Widow (or Widower) with Children - Pennsylvania
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Click ‘Get Form’ to open it in the editor.
Begin by entering the name of the Trustor and their county of residence in the designated fields. This identifies who is creating the trust.
Fill in the name of the trust as specified in Article I. This will be used throughout the document.
In Article II, list all living children of the Trustor as beneficiaries. Ensure accuracy as this determines future distributions.
Designate a Trustee and any Successor Trustees in Article III. This person will manage the trust assets according to your wishes.
Complete Article IV by detailing all assets included in the trust on Schedule A. This ensures clarity on what is being managed.
Review Articles V through XII for additional provisions regarding trustee powers, administration, and beneficiary rights to ensure they align with your intentions.
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While trusts avoid probate, they do not avoid Pennsylvania inheritance tax. With few exceptions, in Pennsylvania, any property that passes at death is subject to inheritance tax, no matter if it passes by will, trust or law.
What happens to a living trust when a spouse dies?
A Pennsylvania living trust places your assets in a trust during your life and distributes them to your beneficiaries after your death. A revocable living trust offers flexibility and control, making it a popular option in Pennsylvania.
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beneficiaries according to the terms of the trust. This is why some people refer to a Living Trust as a Will substitute. However, since your Living. Trust
by RD Linderman 1973 Cited by 1 Consequently, this makes it possible for the spouse decedent to provide for children by a prior marriage, as by a revocable living trust, without being
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