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Assets held in a living trust are exempt from Pennsylvania probate. To use this strategy, form a living trust and transfer the property in question to its ownership.
Property owned jointly between spouses is exempt from inheritance tax.
Intestate Share Of A Surviving Spouse If a decedent is survived by his or her spouse and a parent or parents, then the spouse will receive the first $30,000.00 of the estate, plus one-half of the remaining estate. The surviving parent or parents will receive the other half of the remaining estate.
A trust corpus, containing Pennsylvania real estate, is subject to Pennsylvania Inheritance Tax where the settlor retained certain rights over the real estate until her death.
Wills and trusts are different because they each offer certain advantages to their creators and beneficiaries. For example, a valid will can help you avoid Pennsylvanias intestacy law, while a trust can put conditions on the disbursal of the trusts contents.
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In Pennsylvania, a living trust is a legal agreement in which the testators assets, including bank accounts, home, securities, etc., can be transferred and handled by an individual, including the testator, or corporation, such as a trust or bank. The person or company managing the trust is called a trustee.
Youll likely spend a few hundred dollars at most. Additionally, this method is less expensive than hiring an attorney, but DIY estate planning also presents some risks. If youd rather hire a lawyer, youll likely spend at least $1,000. This could be a less risky approach than DIY planning, but itll cost you more.
Spouses in Pennsylvania Inheritance Laws While spouses will typically inherit most or all of their spouses intestate estate, children and parents can complicate that scenario. But if none of those relatives survive the decedent, the spouse is given the entire estate.
In Pennsylvania, if you are married and you die without a will, what your spouse gets depends on whether or not you have living parents or descendants -- children, grandchildren, or great-grandchildren. If you dont, then your spouse inherits all of your intestate property.
Heres a good rule of thumb: If you have a net worth of at least $100,000 and have a substantial amount of assets in real estate, or have very specific instructions on how and when you want your estate to be distributed among your heirs after you die, then a trust could be for you.

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