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While a living trust may be a good idea for some people, it is not for everyone and does not reduce the time or expense of estate administration. In Pennsylvania, handling an estate is faster and less expensive than many other states. Judges are rarely involved with estate administration .

A will or a living trust are two valuable tools used for estate planning. A will is important to avoid having your estate distributed in ance with Pennsylvania's laws. A living trust can essentially operate as a vault to hold several types of assets that you transfer into it.

Living trusts in Pennsylvania You can select anyone to be your trustee, but most people choose themselves. A successor trustee is also named to step in after your death, take over management of the trust, and distribute the assets to the beneficiaries ing to the terms you have established.

To transfer real property into your Trust, a new deed reflecting the name of the Trust must be executed, notarized and recorded with the County Recorder in the County where the property is located. Care must be taken that the exact legal description in the existing deed appears on the new deed.

Setting up a trust: 5 steps for grantor Decide what assets to place in your trust. ... Identify who will be the beneficiary/beneficiaries of your trust. ... Determine the rules of your trust. ... Select your trustee or (trustees). ... Draft your trust document with an attorney.

To make a living trust in Pennsylvania, you: Choose whether to make an individual or shared trust. Decide what property to include in the trust. Choose a successor trustee. Decide who will be the trust's beneficiaries?that is, who will get the trust property. Create the trust document.