Q: In Pennsylvania, does property in a trust that is held for a specific person automatic pass to that person upon death?
It is stated in the trust that the property passes to a named beneficiary. Does title immediately pass upon death, similar to how it would in a will?
A: Sorry to say, but more information is needed. In general, however, just like under a will, such distributions are usually not "automatic". There is a process to be followed. With a will, the process is called probate. With a trust, the process is called trust administration.
A: You need to consult with a lawyer. However, if I understand you correctly, the right to receive title, but not the title, occurs as a result of the death, as it would in a Will. Title, however, does not pass until a deed is prepared, executed and recorded, as with a Will. Until a new deed is recorded, title remains with the Trustee. Further, there will be inheritance tax assessed.
A: A little more information is needed. The specific wording in the Trust, the type of property, etc.. If the Trust is not continued, or a new Trust is not created, then the property will generally pass to the named beneficiaries. This is not automatic as you refer to, but will require a trust administration (or possibly a trust termination) , which then would either transfer the property to the beneficiary (a new Deed for real estate, new account ) or sell the property and write a check to the beneficiary (again depends on the wording of the Trust)
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
