If I Have a Living Trust, Will There Still be Death Taxes and Attorney Fees After My Death?
Generally speaking, in Pennsylvania there will be inheritance tax whenever there are assets transferred upon a person’s death, and assets in a Living Trust will typically be subject to death taxes. Certain types of trusts may have tax advantages: You should discuss this with your lawyer to determine if these types of trusts make sense for your situation.
Although there may not be a need for the probate process when a Living Trust is in place, there is still the need to accumulate assets, pay debts, and administer the Trust estate. There are certain notices required by the law. It is usually necessary to hire a lawyer to help in the administration of the trust estate after death.
